Published:  May 31, 2020 17:14 Gulf News Web Report – Dubai

Dubai: Life insurance is the top financial priority for individuals in the wake of COVID-19, according to a survey of 1,000 residents in the UAE, commissioned by Zurich International Life Limited (Zurich).

Survey showed almost 5 in every 10 respondents indicated that life insurance was increasingly important to them in the current environment. A similar number of individuals (51 per cent) called out savings as a key priority while retirement planning highlighted by 32 per cent.

“The unprecedented nature of COVID-19 with the rising rate of infections and the increasing death toll across the globe has altered the mindset of individuals,” said Walter Jopp, CEO of Zurich in the Middle East.

“The previous misconception of “it won’t happen to me” has been set straight and people are now coming to terms with the fact that the unexpected does happen and it can happen to anyone and everyone,” Jopp adds.

EA recent survey showed almost 5 in every 10 respondents indicated that life insurance was increasingly important to them in the current environment.