As Friends Provident International (FPI) launches a protection product in the Middle East, the firms says it has identified a need for client education on critical illness cover in the region.
According to FPI’s survey of 503 UAE residents conducted online, around a quarter of United Arab Emirates (UAE) residents admitted their lack of knowledge prevented them from buying life insurance with critical illness cover.
The research also revealed around 70 per cent of respondents believed it was likely that they would develop a critical illness, yet almost half of them did not have a life insurance policy that would provide cover if this were to happen. A further fifth said they did not understand the need for cover at all.
Matt Waterfield, general manager (Middle East) for FPI, said: "We want to make sure people understand the financial impact of developing a critical illness and encourage them to seek needs-based advice to allow them to make the right choices in order to protect their income and lifestyle should anything occur."
Friends Provident launches protection product in the Middle East
Financial Services > Income lnsurance > News
Friends Provident launches protection product in the Middle East
Mon, 16 Mar 2009
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