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Protect yourself and your family in times of uncertainty. 36 critical illnesses covered. Our lives are fraught with difficulties and so to safeguard ourselves from accidents or mishaps we need to protect ourselves. So what would do we do? Life insurance policies in Dubai, Abu Dhabi and UAE can be the most effective way by which we can protect or at least insurance ourselves against these uncertainties. But there are certain things that you should keep in mind while investing in life insurance policies.
These Things to be kept in mind:
Businessmen should go for Key Man Life Insurance Policy. This type of insurance is taken to safeguard the business organization from financial losses in case of the death of one or more employees or owners. Any person can be a Key Man provided they should be either director of the company or key project managers or key sales people or people with specific skills occupied in a particular business. This it also helps the company in its tax planning and protects the immediate families of the businessman from getting affected by the vagaries of the company.
Shareholders should go for Shareholder Protection Plan Saudi Arabia. This not only helps the shareholder but also the deceased shareholder’s family as they can realize the value of the business interest. The shareholders thus can reduce the risk involved in their business. Stefan Terry provides financial assistance to various corporate companies.
Life Insurance should be a must:
Every person needs life insurance cover to his or her personal debts, medical plan and funeral bills. Therefore insuring yourself and your business should be one of your main concerns until you have enough assets to cover the expenses after you are gone. Moreover, even if you are single, you still need to insure yourself.
Thus it is clear from the above discussion that insuring oneself and ones business has various advantages. Although insuring may initially involve some costs but it will definitely benefit one in the long run. So, leave all the stress aside and let your insurance policy deal with them, while you rest at peace and enjoy a carefree life. One cannot predict future disasters or mishaps that may happen in your life but through insurance, you can protect yourselves from them and live a happy life!
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Expat Wealth Care is an independent brand created and operated by Stefan Terry. We provide advice and guidance on the topic of financial planning, solely focussing our strengths on the Middle Eastern market. Stefan has been advising clients in this region for over 7 years and Stefan’s support team has carefully been selected to ensure that customer satisfaction is kept at the highest level throughout the relationship with our company.
Expat Wealth Care is a Globaleye operated enterprise, and as such, we are licensed by the UAE Insurance Authority and registered with the Ministry of Economy and Department of Economic Development and under UAE Federal Law (8) of 1984.
We provide advice to expats and locals in the UAE, with all aspects of tax efficient savings and financial planning to ensure that time spent in the UAE is time well spent from a financial point of view.
Typically we help individuals and families with retirement planning, education fee planning, life cover, critical illness cover and medical cover and we partner with companies such as Zurich International Life, Standard Life, Royal Skandia, Friends Provident International, Generali International and Royal London 360.
Stefan has been working in the Middle East since 2007. His very thorough and meticulous methods of client management and his breadth of knowledge in the offshore investment market has developed his client base at an incredible rate. His superior work ethics along with his professionalism and his knowledge are all traits that his clients always praise.
Stefan enjoys providing financial planning and offshore investment management expertise to private clients in and around the Middle East. Stefan’s client’s range from typical expatriate families to ultra-high net worth individuals and corporate clients.
Stefan studied at a UK University and obtained a 2:1 in BSc (Hons) in Business IT & Finance. Furthermore, Stefan is a member of The Personal Finance Society and The Chartered Insurance Institute (CII) and he has obtained an International Financial Planning qualification with the CII (The CII Award).
Personal Honour & Awards
The International Financial Planning Award (FSA Approved) – The Chartered Insurance Institute (CII)
The Top 1% most viewed Linked In profile of 2012 – Linked In (www.linkedin.com)The Valedictorian Award – Bournemouth University Graduation
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When you live as an expatriate in another country and earn your life’s income, it becomes imperative that you secure all your finance intact; and prudently plan your wealth management. Especially in Arab countries like UAE, where the financial laws are stringent, it becomes even more important that you are very cautious in devising your financial plans.
In saving money, Insurance plays a vital role, in that by taking suitable covers with appropriate beneficial clauses, you can protect you, your family and kids from huge financial losses, when something untoward happens in life. In addition, at the end of service in UAE a well-organized Retirement Plan with adequate coverage for Insurance to take back home the entire hard-earned pension funds will be of great help.
Various protection plans under Insurance in UAE:
During the expatriate life-period, you need to take sufficient and profitable Insurance plans at a lesser-cost. This Insurance coverage will render timely help, when a person gets ill and hospitalized; gets incapacitated; takes a Mortgage for housing, but leaves the family by demise to bear the unpaid debt of Mortgage; works in a corporate entity where medical coverage is not available for family members; and protection of pension funds from undergoing huge taxation etc.
Popular Financial Consultant Companies like Expat Wealth Care have a plethora of Insurance Plans and wealth management plans, to help expatriates in UAE to get benefited immensely. For example, you can get Corporate Medical Plan UAE, Mortgage Protection Life Insurance Plan, Corporate Medical Plan abu dhabi, as also investment solutions in highly profitable Mutual funds Dubai etc.
Ensure your Insurance Plans are right and sufficient:
Being an expatriate, the benefits extended by the government for their citizens may not be applicable or available to you. So you have to take complete care of your financial management, with the help of experts in the field. Talking of that Expat Wealth Care is immensely popular among expatriates in UAE, by their dedicated, personalized and prompt services.
All that is needed is to approach Expat Wealth Care online, by landing into http://www.expatwealthcare.com/ and indicate your needs for wealth management solutions in UAE. Their expert team of professionals will come forward with a smile, to hear your needs patiently and help you out with meaningful suggestions that can benefit you largely.
You will be amazed to see the enormous branches of their financial services listed at their website. Their wealth management solutions and Insurance cover suggestions will go a long way, in meeting your individual needs fully and satisfactorily. You can go through the valuable credentials by their expatriate clients like you; and this will convince you that your future financial plans are in safe hands with Expat Wealth Care.
Even though you come under the broad category of expatriates, the needs for financial planning will certainly vary, according to your earnings, age, life-style, family members and kids residing with you etc. Therefore, you cannot go for “one-size fits all” theory in respect of your Insurance, Investment and Wealth Solutions planning, as of now and also in the future.
So explain and entrust your needs to Expat Wealth Care professionals. This is the sure-shot way of ensuring the adequacy and prudency 100% of your Insurance plans, by clicking http://www.expatwealthcare.com/wealth-management-solutions/life-assurance/ !
In many places, you will get to hear about the comparisons being done in the UAE regarding the critical illness cover UAE policies of various kinds and you might be eager to know as to why this is done in the first place. Well, if you go for the comparison, then you will be able to choose the best of the policy that suits you in the best possible manner. So it is always said that it is good to get your policies compared so that you can go for nothing but the best.
How can you get it done?
According to the mortgage protection life insurance plan Dubai, if you want to get the comparison done, you can go for the online ones in which you can get a lot of quotes as because there you can have the actual proportion of each and every aspect of the policy and there you can easily determine which the one that you should go for is. In order to do that all you have to do is to log on to the comparison website and enter the names of the policies that you want to compare and within no time, you will be able to get the compared results.
In the United Arab Emirates, according to education fee planning Dubai it is now important for every individual to have the medical insurance done up so that you can have the free medical treatment in case of any medical emergency when you cannot get the cash ready right at the moment. But you do have to make sure that you are choosing the right kind of insurance provider so that you do not have to regret later on.
In the UAE there are a lot of insurance providers and choosing one from them can be a really tiresome task that you have to endure. Now if you really want to go for the best, then you have to check the authentication of each of them so that you do not fall in the wrong hands.
Also you do have to check which policy gives you more benefits and what are the restrictions that you have to follow. It is these two aspects that help you in determining how promising the insurance policy actually is and then you will be able to get the best of the sort.
If you want to have the best of the policy, then it is for the best that you go for the offline comparison so that you can have the exact quote and you can have the best of the many policies that you get to see in the markets. In this way things will no doubt be very profitable on your behalf and you will be able to get the best of the medical facilities in case of any emergency.
Now that you know how to choose the best of the policies, I am sure that you will be the gainer at the end of the day by choosing the right one.
Dubai is a wonderful city, full of opportunities and ambition. But it is possible for you, as a hard working expatriate, to get too caught up in your work and neglect another important part of making it big in your chosen career: proper systematic care of your wealth.
GROW YOUR WEALTH
It is important to notice that just accumulating wealth will not make it last. Inflation will cause your wealth to depreciate into nothing. That is why it is so important to properly invest your hard earned money into avenues that can ensure long-term growth potential while offering very little downturn risk. Mutual funds in Dubai are one of the most attractive investment avenues available to you. They are dead simple to set up and offer predictable returns. You do not need to worry about diversification and all other nonsense. Look for a long serving fund manager who has successfully headed the fund through tough times and always compare how the fund has performed historically.
TAKING CARE OF YOUR EMPLOYEES
Being the successful entrepreneur that you are, your success depends on you having the best people to work for you. It is a buyer’s market, and hence it is imperative that you offer your employees all the benefits that they deserve. Corporate Medical Plans in Dubai are one of the easiest ways to put their minds at ease; you are being a pragmatic employer as well as an upstanding citizen. These medical plans ensure that in case of sickness, you and your employees remain financially secure. Some plans even compensate the company for losses resulting from the insured being unable to work, which truly works out to your advantage. Your employee gets to properly recover in the comfort of his home and you are duly compensated for any loss in business you might incur as a result.
DO NOT UNDERESTIMATE LIFE INSURANCE
This is definitely a statistical outlier, but life insurance makes financial sense as well. In addition to ensuring that your loved ones do not unduly suffer if, God forbid, something untoward happens to you, the insurance premiums also act as investments that you recoup after the policy matures. Life insurance is a practically risk-free endeavour as you are guaranteed a return on your investment, in addition to life cover in Dubai, and depending on your insurance provider, the rest of the UAE as well.
CONSIDER OPPORTUNITY COSTS
Not all investments are created equal. One of the biggest things new investors fail to factor into their decisions is the opportunity cost: the cost of not being to invest in a more lucrative avenue because your funds are already tied up elsewhere. This is why due diligence is absolutely key when you are investigating avenues to invest your hard earned money. Weigh your options carefully; an opportunity with a high possibility of return also carries an equally high possibility of risk. Gauge your situation properly; maybe risk-averse bonds would be a better choice for you if you do not have sufficient financial capital to recover from a botched investment. Take expert advice, and do not make rash or impulsive decisions.
Mortgage Protection Life Insurance Plan are available on http://www.expatwealthcare.com/wealth-management-solutions/life-assurances-mortgages/ OR http://expatwealthcare.blogspot.in/. Visit to know more about the Corporate Medical Plans http://www.expatwealthcare.com/
There are numerous agencies in the Middle East which deals with the protection of wealth, its preservation and creation. There ways by which these goals can be achieved. Some of them are by providing life cover, medical cover, critical illness cover, mortgage protection, international pension plans, savings plans, pension transfer plans and the likes. It is very important to attain these covers as they help the families to tide things over.
Medical insurances are an important aspect as they help to overcome the financial issue of sickness. Families and individual go through a lot of emotional turmoil when somebody gets sick. At least being financially covered spares some of the worry. There are critical illness covers apart from the generic medical covers which can also be availed.
Life insurance is the fundamental step in the financial arena. It is the main foundation of financial planning. Basically, it provides financial cover to your loved ones on the advent of your death. It can cover the debt on the mortgaged property, and removes the hindrance of debt. Life insurances for mortgages UAE ensures that on the event of your death, the debt incurred on the property will be inherited by your family. So, in order to take up a mortgage it’s essential to have a life insurance. It can also cover the education cost of your children as well as provide a cash inflow for your family. Another aspect of life insurance is the planning for the inheritance tax liabilities
The retirement years has to be planned meticulously in a detailed manner with utmost care. It all depends on the kind of lifestyle you live and the passive or aggressive way in which you would like to live your retiring years. However, it is best from the financial point of view if the retirement fund is started early. The most tax beneficial method in the retirement is opting for offshore pension plans. This is why people living in places like Middle East and Africa, places which are a non taxed jurisdiction opt for the private pension plans UAE. The structure of your retirement pension plans depends on you. You can withdraw the entire maturity amount together or benefit the maturity gradually over a period of time.
Every parent wants the best for their children and the importance of education is paramount. However, the cost of education has also sky rocketed and is increasing rapidly. Therefore a lot of investment is required for a proper education. In the advent of your death you wouldn’t want to leave your child without being able to afford their rightful education. So planning for your child’s education is very important and putting away money at a regular basis is a good way to tackle that issue. Even in places like UAE education fee planning is a very important aspect which should be considered and covered by concerned parents.
Living or rather earning in the United Arab Emirates has its fair share of pros and cons. While there are certain benefits such as earning more and getting the option of saving more because of the country’s zero-tax regime, one of the harsh disadvantages is that it does not provide the expatriates with a suitable retirement pension plan. One must become very proactive and set up a Corporate Pension Plan In UAE while working there.
Why Do We Need A Pension Plan?
It is very important to know the reasons for taking retirement pension plans very seriously and planning it before knowing how to do it. One of the most important aspects of human life is that it is very fragile and vulnerable. And the one certainty in human life is that no matter what, we are going to grow old. And contrary to popular beliefs- People do not age very gracefully. Instead they rather become very weak and incapable of working furthermore in order to provide themselves their livelihood. And the modern society is devoid of any social security whatsoever. So the most practical approach is to start saving for your retirement as soon as you start earning because the only way to make a large amount of money is by joining small chunks of money over a long period of time.
Points To Remember And Evaluate
While setting up a pension fund in the UAE one should primarily consider the tax regime in his/her home jurisdiction. One should also be concerned with the structure one must adopt in order to make it tax-efficient. Secondly, you have to decide the amount of money you will be able to put aside for your retirement. These are very important aspect while setting up a pension plan. The next aspect one shall have to consider, especially in the UAE is movability from one employer to another. Changing of jobs from one part of the country to another might affect your capability of contributing to your pension scheme.
Pension Fund Or Employer Scheme : The Most Popular Debate?
If fixing the appropriate amount of money to save for your retirement isn’t debate enough the next question is one that often causes the most confusion, whether one should avail their saving schemes from their respective employers or choose to construct a pension scheme for himself from an independent financial advisor. The key benefit for opting for the former option is that your employer has an independent board of proficient trustees who has the ability to ask the correct question on your behalf. For example, portability of the savings from one jurisdiction to another, details of the costs involved etc. The fact that your employer will not ask for any commission fees enhances the idea of choosing your employer for going through your pension schemes. But the main drawback in this regard is that in this market you cannot avail any long-term pension solution but only a long-term savings plan from your employer. On the other hand an IFA (Independent Financial Advisor) can tailor your retirement plans based on your requirement. He can offer a certain level of portability and has the ability to alter the plans to specific tax codes. But the flip-side is the expensiveness of the process.
Things That Must Also Concern You
Other prospects one must be concerned with are life insurance and education planning. Other than Corporate Pension Plan UAE, other aspects available are Mortgage Protection Life Insurance Plan and Education Fee Planning In Saudi Arabia.