Dubai Forums Dubai Expat Forums Dubai Expat Help Forum

Apologies if this is in the wrong section - but it seems to be a lot busier compared to the other sections.

I am approaching 30 and feel the need to take an additional life insurance policy (I already have insurance covered by my company) that would act as a savings plan and/or investment (additional stream of revenue). I understand that this would entail either a lump sum premium and/or monthly premiums.

Can someone point me in the right direction, as to what is good? I tend not to go with banks like Citi or HSBC 'cause essentially they just act as middle-men between Zurich, Alico, etc.

Thanks a bunch.

I would recommend that you keep life assurance and savings plans separate as hybrids never do an ideal job.

Best to speak to an Independent Financial Adviser who can give you proper advice based on your personal circumstances. Feel free to PM me.

-

Phoenix wrote:Apologies if this is in the wrong section - but it seems to be a lot busier compared to the other sections.

I am approaching 30 and feel the need to take an additional life insurance policy (I already have insurance covered by my company) that would act as a savings plan and/or investment (additional stream of revenue). I understand that this would entail either a lump sum premium and/or monthly premiums.

Can someone point me in the right direction, as to what is good? I tend not to go with banks like Citi or HSBC 'cause essentially they just act as middle-men between Zurich, Alico, etc.

Thanks a bunch.

Hi Phoenix,

I am an insurance broker and i agree to Elphaba's advice.
There are a lot of plans that combine both. If you are a person that follows global mkts rigorously, then go for a ULIP whole life plan.They will ensure that your premium money invested grows with time Else if you want only a basic insurance coverage, go for a simple Term plan. they are the cheapest in the mkt and have only death benefit attached.
let me know if you still have some clarifications