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Zurich International Life has said more than 63.3% people in the Middle East aged 18-34 claimed they purchased life insurance since the Covid-19 pandemic began
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It added that more than half of the respondents across all ages said they were likely to consider getting life or critical-illness cover due to Covid-19
Dubai-headquartered insurer Zurich International Life has said more than 63.3% of respondents aged 18-34 to one of its surveys claimed they purchased life insurance since the start of the Covid-19 pandemic.
That amounts to nearly two out of every three people that this subsidiary of global insurer Zurich Insurance Company Ltd polled.
It added in the report that more than half of the respondents across all ages saidthey were somewhat likely or extremely likely, due to Covid-19, to consider purchasing life or critical-illness cover.
The 2021 Customer Benefits Paid Report said about the Middle East that heart attacks and strokes were the biggest risk to life (43%), followed by cancer (27%), and accidents (10%). Covid-19, while a relatively new illness, was responsible for 5% of all life insurance claims in the region, said the report.
People in the Middle East are also paying increased attention to the benefits of a healthier lifestyle, with many taking up exercise, yoga and other physical and mental wellbeing activities in a bid to reduce or mitigate the risks of developing long-term, serious illness.
The report also claimed women tended to find life insurance too expensive compared to men. Of those surveyed, 42.8% of women said they don’t have insurance because it is too expensive, compared to 34% of men who lacked cover for the same reason, claimed the report.