WHAT MAKES NEXUS DIFFERENT
LARGEST INSURANCE BROKER IN THE MIDDLE EAST
Understanding Life Insurance
Key Takeaways: Life Insurance
The primary reason we buy life insurance is for protection — it can provide financial back-up during emergencies when we pass on or become totally and permanently disabled.- Protection against financial loss: Life insurance provides a financial safety net for your loved ones in the event of your death or total and permanent disability.
- Types of life insurance:
- Term insurance: Provides coverage for a specific period.
- Whole life and endowment policies: Offer lifelong coverage with a savings component.
- Cost: Policies with investment components generally cost more than those without.
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- Protection needs: Determine the amount of coverage needed to protect your dependents.
- Affordability: Ensure the premiums fit your budget.
- Gather information: Provide accurate details to the insurance company.
- Understand the product: Read policy documents carefully and ask questions.
- Seek advice: Consult with a financial advisor for personalized guidance.
Nexus Group has over 400 qualified professional consultants offering a broad range of licensed products from regulated providers.
With over thirty years’ experience in the GCC, Nexus Group operations are located in Dubai, Abu Dhabi, Bahrain, Qatar and Kuwait to underpin a professional and high-quality level of service to our clients.Life Insurance
Understanding Term Insurance
Key Takeaways: Term Insurance Basics
- Pure protection: Term insurance provides coverage for a specific period without investment features.
- Benefits: Pays out a lump sum upon death or total and permanent disability.
- Cost: Generally more affordable than other life insurance types.
How Term Insurance Works
- Coverage: Covers death, disability, and sometimes major illnesses.
- Sum assured: Remains constant or decreases over time.
- Premiums: Typically fixed but may increase upon renewal.
- Riders: Additional benefits can be added.
Things to Consider
- Coverage term: Choose a term that aligns with your protection needs.
- Reinstatement: May require underwriting after expiration.
- Age limits: There may be age restrictions.
Term Insurance
Understanding Whole Life Insurance
Key Takeaways: Whole Life Insurance Basics
- Lifelong coverage: Provides protection for your entire life.
- Cash value: Builds up over time, potentially offering savings and loans.
- Premiums: Generally higher than term insurance due to the savings component.
Types of Whole Life Insurance
- Participating policies: Share in the profits of the insurance company, offering potential bonuses.
- Non-participating policies: Offer guaranteed benefits without bonuses.
Key Considerations
- Long-term commitment: Whole life insurance is a significant financial commitment.
- Cash value loans: Borrowing from cash value can impact future growth.
- Early termination: May result in financial losses.
Choosing the Right Whole Life Policy
- Needs assessment: Determine if lifelong coverage is necessary for your dependents.
- Product comparison: Evaluate participating and non-participating options based on your needs and budget.
Whole Life Insurance
Our Values
Through association with a class-leading panel of providers, and a commitment to provide our staff with leading-edge technical, service and training support, we have the confidence that we offer the best possible bespoke solutions.
We have a responsibility to our employees, recognizing their value and contribution at every level of our business. They should feel empowered to act on behalf of NEXUS and at the same time recognize the responsibility that this brings. We should provide appropriate IT, training, infrastructure and medical support concomitant with staff functions and maintain transparent procedures for their well-being and HR requirements.
We must deliver equal opportunities and enable advancement and wealth creation to the mutual benefit of the staff and the company. We should strive to be transparent, informative and inclusive so that united as one body, we can grow ‘in good faith’ with our clients.
We have a responsibility to the community in which we operate. We acknowledge our responsibility to play our part in developing the financial services industry of the UAE, the Kingdom of Bahrain and Qatar, and as we expand, we do so as the best of ambassadors. We take with us the highest operating standards synonymous with the NEXUS brand.
We help the communities amongst which we operate and through strategic partnerships, selected through open and inclusive debate with our staff, we play our part to help others. This recognition of the need to be good global citizens reflects our multi-cultural composition and the founder’s overriding intent that NEXUS represents a force for good.