Modern Medicine is changing the Game Plan of Life.
How many of you believe that Innovations in Modern medicine is a Boon ?? Good and How many of
you believe that it is a Curse ??? Very Good.
The Innovations in Modern Medicine has played an important
role in increasing Human Life Span from 45 years in 1900 to 75 years today.
However, this increase in life span has come with a BIG cost.
Are we all ready for
it ?
TMOD Fellow TM and Guests, G.Evening
My name
is Aadil Kadri. I am a Certified Financial Planner with 15 years of experience
is going to shed some light on most important yet neglected area of life.
According
to a recent survey by Cancer Research Institute, Diabetes is the fastest
growing condition in the world and UAE has the second highest rate of Diabetics
in the world. This condition is a major cause of many Critical illnesses.
Our
chances of being diagnosed with a Critical Illness are very high, thanks
to our sedentary life style. The good news is there is a very high probability
of our survival and the bad news is that survival comes with a BIG cost.
A study found that almost 75 percent of people who face a
critical illness survive. Sadly, majority of them are forced to use their life
savings to pay for medical costs.
Are we all ready for
it? Survey says that 9
out of 10 are not ready.
So what is the solution ??? Solution lies in Critical
illness / Loss of Income Insurance which pays Lump sum to the insured upon
diagnosis of specified illness.
Critical
illness insurance protects our most precious asset which is “Our Ability to
Earn ”.
Life
Insurance hopefully will take care of the family in case of death. However, we
have 80% of people losing their homes because of major illnesses and not due to
death.
Medical
insurance will hopefully take care of all the direct expenses of the hospitals
and pharmacy bills. However, the lump sum money which comes upon the diagnosis
of critical illness will help them to take care of liabilities and
responsibilities of family.
In 2008,
I met Mr. John who was not adequately covered so we have suggested him to take
up Critical Illness Insurance for himself and his wife. Although he was
reluctant, his wife was in favor and we did the paperwork. Just 9 quarters
passed by I came to know that Mr. John was hospitalized due to a Critical
illness: Malignant Brain Tumor. The whole world around him came to a Standstill.
Living expenses for his wife was a Big question mark. Mr. John got the claim
amount which has helped the family to recoup from the shock.
Alternatively, I also know one Mr. Abdulla, physically fit
young man of 38 years of age. Although he was covered by his company, he did
not have any protection plan. Unfortunately his wife got detected with a MS -
Multiple Schelorosis and due to which not only he had to resign from the job
and leave the country but also lost his entire savings and his house for her
treatment.
How many of us know
such Mr. Abdulla around us ?
Friends,
- Why do we even after hearing the
stories, experiencing the trauma if it happens to the nearest in the family,
understanding the statistics still do not act upon it.
- Why do we procrastinate for
no reason and finally we blame GOD for our fault.
- Why do we create a
situation that that leaves us dependent on our KIDS or relatives.
- Why do we leave things to
destiny.
Even the Recent reports of WHO confirms that statistically
by 2020 one in two would be suffering
from critical Illness before the age of 65 years.
We have
found that people are long on life & short on cash, they sacrifice health
for wealth, then try and use wealth to buy back health...when they are
out of time and income-producing opportunity.
In case of any Critical illness, Doctors are there to help
you medically , relatives are there to help you emotionally but
who is going to help financially.
I strongly
believe that “Yes .. Innovation in
Modern Medicine is a Boon as it gives us more time to live” however it can
become a curse if we do not have adequate money to be get cured in case if we
are struck with life threatening diseases.
Critical
Illness Insurance is not expensive; however survival from a critical Illness is
very Expensive. So it is better to have a Critical Illness Insurance and not
need it rather than needing it and not having it.
“In desert believe in GOD but tie your camel also.
“No one can predict the future so why not we protect
it”.
Over to
the TMOD.
No comments:
Post a Comment