UAE: Residents find it easier to explain cricket rule than life insurance
Source: Middle East Insurance Review | Apr 2015
UAE residents from the Indian subcontinent find it easier to explain cricket’s no-ball rule (39%) than a basic life insurance plan (29%), according to a survey commissioned by Friends Provident International (FPI).
The survey was sparked by the Cricket World Cup jointly hosted by Australia and New Zealand from 14 February to 29 March. It also found that residents value TV sports subscription packages over savings plans.
A more positive finding of the survey is that a third of respondents would choose to top up their regular savings plans or existing lump sum investments if they were given a significant end-of-year bonus, demonstrating a disciplined approach to financial planning. A further 15% would choose to invest a bonus in a single premium life insurance bond. In comparison, only 3% of respondents would use the money for a flight to Australia or New Zealand and a ticket to a game at the Cricket World Cup.
Asked what they would be most likely to go without if their income was reduced, 44% of respondents said that they would sacrifice a holiday they had started planning. However, more people would choose to discontinue contributions to their savings plans (19%) than their sports subscription packages (15%).