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Why life insurance matters

Life insurance | |Read | August 3, 2021

The toughest challenges we face today are our own vulnerabilities, the restriction to take that step out of our comfort zone and look life in the face.

At Zurich we want to start the conversation person to person for our customers to build towards their best-case scenario and count on us in vulnerable times. When you consider the compelling facts from Zurich’s latest Customer Paid Benefits Report, it’s hard to ignore the benefits that protection brings, particularly when it’s considered early and sufficiently.

 

Key health risks

As professionals in understanding risk, we want our customers to be informed on how our solutions are tailored to protect them from life’s inevitable curveballs. We took a closer look at the most prevalent health risks we face today and how the following three health risks need to be addressed in order to take optimistic action for a brighter future.

1. The highest health risk in the region is heart attack and stroke. With obesity and diabetes profound in the region these health risks need to be addressed from the source with mitigation and protection against preventable catastrophes that account for 43% of life claims. In the UAE cardiovascular diseases are unfortunately climbing, with the average heart attack incidence falling between 30-40 years old and significantly more commonly in men, accounting for 53% of their critical illness claims.

2. The silent epidemic and the 2nd largest health risk is cancer, the hard truth that this is, it is the cause of 49% of all critical illness claims and is an eye-opening statistic on how crucial critical illness protection can be in vulnerable times. Our insights show that women are much more susceptible to being affected by cancer with it causing 85% of critical illness claims in women.

3. It's no shock to see the COVID-19 pandemics effect, posing us and our customers with a new challenge, accounting for 5% of life claims, amounting to USD 3.9 million

These are real risks that affect real people and Zurich was there for three such individuals in time of need. Watch our customers’ stories now:

Judie, 38 years

Richa, 45 years

Shankar, 46 years

 

Time is of the essence

Zurich are leaders in spreading insurance awareness, with real insights from our paid benefits report we want our customers to be sufficiently informed and protected to ensure they are ready for life. When considering insurance time is one thing you can’t take for granted. Our average life claimant (or benefit) age was only 52 years while our average critical illness claimant was just 49 years. Starting young - when you are also more likely to be healthier – means your insurance premiums will be cheaper and it’s also easier to purchase additional cover as your life needs and goals change.

 

The compounded power of prevention

Prevention is better than cure. With regular health check-ups you are giving yourself and your loved ones peace of mind through early awareness and detection. While we can’t predict the future, a healthy and active lifestyle can go a long way in averting illness, together with financial protection for sustained peace of mind.

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Zurich is the first insurer to release these insights with our 2021 Customer Paid Benefits Report. To get further informed find the full report here. While awareness is a key first step, we’ve also got a proven track record of covering our customers when the worse happens. Having paid out USD136 million in claims over the past three years only in the Middle East, and 98.1% of life insurance claims, you can rest assured that we’ve got you covered when you need it most.