Health Chalenges Insure your future with good planning
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Dubai: How's your health and wealth? Do you have allotments for illness eventuality? How to ensure that you are ready to face the unforeseen events? Are you insured? Ben Parco, District Manager with Nexus, Insurance and Financial Services, Dubai, shares his expertise on the importance of insurance and financial planning. He said, "The four major areas of financial planning are family protection, financial independence in retirement, children's education funding, and other lifetime aspirations." Parco added that the order of priority on these four areas varies from person to person but, in his opinion, the basic need is family protection. He said, "Life insurance and health insurance must be arranged immediately to provide peace of mind and protect the welfare of the whole family. Death and serious illness can wipe out a person's life savings and will have a great impact on the future of the family, so it should be the number one priority." For life insurance, critical illness, disability cover and retirement funding, he normally recommends a long-term plan that saves about Dh700 every month to get a cover of about Dh175,000. If used as income, this will provide the family a guaranteed income of at least Dh1400 per month for 10 years.
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