Feature2 » Protection


GlobalEye gifThe one area of Financial Planning that I am most passionate about is protection. We often use the analogy that Financial Planning is very much like building a house – before you lay the bricks its necessary to put the foundations in place. Life insurance and Critical Illness cover is one of these most important foundations. We have a responsi- bility in life to ensure that ourselves and our fami- lies are protected in the event of death or ill health.


The sad reality is each of us has a real chance of suffering a critical illness or becoming disabled. You may be healthy but unfortunately there is also a risk of dying at a young age. In Dubai alone last year 123 people died in car accidents.


When considering protection needs one question to ask yourself is `If I suffered a Critical Illness and were unable to work how would myself and my family copy financially`


We are all very focused on the future goals that sometimes we overlook our current situation and put
it to the back of our minds.

Did you know that.......

1 in 3 people will have cancer in their lifetime
1 in 6 people worldwide will have a stoke in their lifetime


Coronary heart disease in UAE is 15 years ahead of the western World, consider main contributing factors for heart disease; poor diet, lack of exer- cise, smoking and stress


MacMillan cancer support recently announced they predict in 2020 47% of UK will have cancer The average age to be diagnosed with Parkin- son’s disease however, Mohammad Ali was 42 and Michael J Fox was only 30


Being a keen sports person, I am currently trying to raise awareness of Protection issues in the sporting community. Recently there have been several publicized cases in the region of individu- als being involved in life threatening accidents and not having any or enough protection in place to cover medical expenses. As a result of this their friends and colleagues have had to come to together to show support with fund raising efforts to assist with the often huge costs.


If we had adequate insurance put in place then we would be protected for such eventualities if they ever arose. I think if we are all completely hon- est with ourselves most of us do not have enough protection needs put in place to protect ourselves or our family in the event of injury or critical illness/ death.


This brings us to the question of how much cover do I need? A simple guide is to take your current annual salary, then multiply this annual figure by the remaining years to wish to work or take re- tirement. So as an example if you are earning $150,000 per year and currently aged 40, want to retire at age 60 this would equate to a potential total earned salary amount (excluding pay rises) of $3,000,000 ($150,000 x 20 = $3.0m) over the next 20 years


How a lot of this is cost driven. Not everyone can afford 3 million dollars worth of life cover. A sim- ple insurance policy that costs $100/$200 per month could ensure you have the financial sup- port you need, which is a small price to pay for peace of mind.

Zoe gif

I would personally be very happy to help any indi- vidual review their protection needs.


You can contact me Zoe Turner on 0558695673 


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