Awareness about term insurance among UAE customers remains notably low compared to other insurance options, an industry survey showed.
Besides, a significant number of respondents – as much as 45 percent – are yet to initiate any form of retirement savings, while a significant 57 percent are still deliberating over purchasing a plan to secure their family’s future, the survey by Policybazaar, a leading insurance aggregator in the UAE, said.
The aggregator also said a staggering 68 percent of participants are yet to invest in any form of life insurance in the UAE.
“Despite an uptick in the uptake of term insurance plans, many residents are still overlooking the critical importance of safeguarding their families in the face of unexpected events such as death or serious illness,” Policybazaar.ae said.
The firm said its findings are based on the survey data and statistics, and also information drawn from comprehensive insights gathered through an analysis of traffic patterns on its platform and engagements with their expert team on life insurance products.
In order to highlight the importance of the security family’s future through term insurance products, Policybazaar.ae also released a digital film, flagging life’s uncertainties and urging viewers to safeguard the future of their loved ones.
Titled “Their World Begins with You”, the short film underscores the irreplaceable role parents play in their children’s lives and the imperative need to secure their future.
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