What does covid-19 teach us about life insurance

Except in some zombie movies or in some crazy dreams we have never thought the world will come to a stand still at least for sometime. If somebody suggested this would happen few months back we would have laughed at him or her. Yet here we are, most of us confined to our homes. Digitally connected to the other end of the world but hardly connected to the friend next door.

Truth is stranger than fiction coz fiction has to make sense but life does not always have to.

we never know what life throws at us from time to time, we may not be able to avert all of it but at least we could be prepared for some of it, and its called insurance

Life insurance is all about the what ifs?, in life. We often take it for granted. Statistics shows there is a 60% chance that one may be struck with some life altering serious illness before the age of sixty. 1.7 per 1000 people is the average death rate in UAE before the age of 65.

then again we think to ourselves, what are the odds? it won't happen to me. we never want to consider ourselves as one of the statistics numbers.

Insurance is meant to cover the uncertain events, we do not know what's in store for us in the future. That's precisely the reason you cannot buy an insurance after the event is certain.

• You cannot buy a health policy once your surgery is planned

• You cannot buy a motor insurance once your vehicle has crashed

• You cannot buy a life insurance on your death bed.

So is the case with every other insurance, still life insurance often end up last in the list of priorities for insurance. we insure our car which is most likely less than in value than our 1 or 2 years income, and constantly depreciating in value. Yet again we look the other way when it comes to protecting the income which we will generate throughout our life time.

Then again, "it won't happen to me!!!." not every country in the world will close the borders all at once, not 90% of the flights and cars will be grounded together. You never have to take permission to step out of the home even if you are not under house arrest. Schools and offices will not be closed for months across the globe.... and yet, Here we are.

Its time to reconsider the odds.