AD
Term insurance is an essential financial tool designed to safeguard your family’s future in the event of your untimely absence. It provides peace of mind by ensuring your loved ones remain financially protected. However, many people unknowingly make mistakes when selecting term insurance policies. Here are five common errors and how to avoid them.
1. Selecting Insufficient Coverage
One of the most frequent mistakes is opting for a lower coverage amount to save on premiums. While this may seem cost-effective initially, it can leave your family underprotected in the long run. Financial experts recommend choosing a sum assured that is at least 10 to 15 times your annual income. Don’t forget to account for any outstanding loans or debts that your family may need to cover.
2. Choosing a Short-Term Policy
Some individuals opt for policies with a short duration, often 10 to 15 years, to reduce costs. While this may save money initially, it can leave policyholders unprotected in later or vulnerable years. Financial planners suggest selecting a policy term that extends until retirement or until your financial responsibilities are fully covered. Longer-term policies provide stronger, lasting protection.
3. Postponing the Purchase
Many young adults believe they can delay buying term insurance, assuming they are healthy and don’t need coverage yet. The reality is that purchasing early—in your 20s or 30s—helps secure lower premiums and ensures continuous protection. Waiting too long may result in higher premiums or even rejection due to health issues that develop over time. Early purchase is both a smart and cost-saving strategy.
4. Withholding Health or Lifestyle Information
Some buyers attempt to lower premiums by hiding important health details such as pre-existing conditions, surgeries, or lifestyle habits like smoking or alcohol consumption. This is a critical mistake, as any non-disclosure or false declaration can lead to claim denial later, leaving your family without financial support despite years of premium payments.
5. Adding Riders Without Proper Evaluation
Riders, including critical illness or accidental death covers, can enhance a term insurance policy. However, many individuals add them without assessing actual needs. Factors such as personal health history, lifestyle, and risk exposure should guide decisions on which riders to include.
Making Term Insurance Work for You
Buying term insurance is crucial, but selecting the right policy is equally important. Start early, choose an adequate coverage amount, select a suitable policy term, and regularly review your plan to adjust coverage if needed. Avoiding the mistakes mentioned above ensures your family remains financially secure, giving you true peace of mind.
The Ultimate Guide to Birthday Freebies in Dubai
If you are the one whose most favourite phrase of the year is “ It’s my birthday”, then Dubai is surely your soulmate city. Because here you can enjoy free brunches, cafe treats, and even your favourite waterpark adventures on your birthday. You don’t even have to plan, just show up with your Emirates ID and let the city celebrate your day and make you feel special. Everywhere you turn, there is a new surprise wishing you a “ Happy Birthday”. And because Payit loves good dealsas much as you do, Payit has rounded up the best birthday freebies in Dubai. Here is where to find the freebies and claim yours!
What is a Duplex? Pros & Considerations in the UAE
Duplex properties have steadily grown into one of the most attractive residential options in the UAE, especially for families and residents who want a spacious lifestyle without the higher costs of a standalone villa. With their generous layouts, multi-level design, and a living experience that feels both private and contemporary, duplexes blend the best of apartment convenience with the openness of a villa-style home.In Dubai and neighbouring emirates, duplex homes continue to draw interest fro
Where to celebrate New Year’s Eve in the UAE: From fireworks and beach parties to desert countdowns
As the UAE prepares to welcome 2026 in signature style, New Year’s Eve celebrations across the country promise something for every kind of reveler. From family-friendly fireworks and dinosaur-themed adventures to glamorous dinner-and-show spectacles, sky-high balloon countdowns, beachside parties, desert celebrations and nostalgic throwback nights, this year’s lineup is as diverse as it is dazzling. Whether you’re after a relaxed coastal vibe, an immersive luxury experience or a fun-filled night with the family, here are some of the best ways to ring in the New Year across the UAE:
Sudha Murty celebrates 50 years of storytelling with launch of new book
Sudha Murty has been writing ever since she was in school. She published her debut book at 28, and now, as she launches her 50th title The Magic of the Lost Earrings, we delve into her journey as a storyteller — her childhood, her love for reading, and her timeless wisdom for parents. A familiar face in Dubai, Murty often visits the city for educational and cultural events.
Hamda scores big win for Emirati women at Sheikh Mohammed Endurance Festival
When the desert asks the toughest questions, it is determination rather than reputation that matters most. That was clear at Dubai International Endurance City in Seih Al Salam on Saturday, as two Emirati women rewrote the narrative of one of equine sport’s most demanding events.Hamda Jasim Ahmed Mohamed Al Ali and Maitha Mohamed Al Qubaisi delivered a performance of rare authority to dominate the flagship 160 km ride of the His Highness Sheikh Mohammed bin Rashid Al Maktoum Endurance Festival,
Full Mouth Dental Implants for Seniors: Cost, Insurance, Options & How to Choose
Full mouth dental implants for seniors are often considered when missing teeth begin to affect daily comfort, eating ability, speech, and overall confidence. For many older adults, traditional dentures no longer feel stable enough, which makes full mouth restoration a more attractive long-term option.
Older CareShield Life Policyholders to Benefit from Lower Premiums from 2026
Singaporeans preparing for their long-term care needs can expect changes to CareShield Life that may reduce premiums for older policyholders starting in 2026. Announced during the passage of the CareShield Life and Long-Term Care (Amendment) Bill on October 15, the updates aim to maintain the scheme’s affordability and sustainability while continuing to provide essential financial protection for Singaporeans.
'One Battle After Another' heads into Golden Globes as favourite
Hollywood's A-listers are set to hit the red carpet on Sunday for the Golden Globes, with the politically charged One Battle After Another expected to solidify its status as the film to beat this awards season.With nine nominations, One Battle... appears a lock to take home the prize for best comedy/musical film."We're seeing a real sweep and a juggernaut in that movie," Deadline's awards columnist and chief critic Pete Hammond said, two months ahead of the Oscars.Paul Thomas Anderson's screwbal
UAE NRIs may soon find it easier to carry gold home
For many Indians living in the UAE, carrying gold home has always been a mix of tradition and tension. Jewellery plays a central role in weddings and family celebrations, yet passing through Indian airports with gold often feels more stressful than festive. Current rules are viewed as outdated, unclear, and out of step with the frequent travel patterns between the Gulf and India.Now, hopes are rising. India’s Finance Minister, Nirmala Sitharaman, has indicated that customs modernisation is her n
Best Themed Restaurants in Dubai: Themes, Locations & More
Dubai is not just a city of impressive skylines and luxury shopping; it’s also a hotspot for unforgettable dining experiences. Themed restaurants in Dubai go beyond serving meals—they offer immersive journeys where every visit feels like stepping into a story. Whether you’re seeking family-friendly fun, romantic evenings, or extraordinary adventures, Dubai’s themed dining scene has something for everyone.For those looking to add a little magic to their mealtime, the city offers a wide variety of
Comparing the different types of car insurance in Singapore: Choosing the Right Coverage for Your Vehicle
Buying a car in Singapore comes with an important responsibility: insurance. Before you can hit the road legally, every vehicle—new or used—must be covered by a valid car insurance policy. For first-time car owners, navigating the variety of motor insurance plans can feel overwhelming, especially with different companies and a wide range of coverage options.Car insurance, also known as motor or vehicle insurance, is designed to protect you, your passengers, and your vehicle in the event of an ac
Is 2026 the year crypto finally moves from speculation to structural maturity?
For many people, 2025 felt like a year the crypto market should have soared and didn’t. Markets lagged, prices disappointed and we started to rethink once sacred rhythms like the four year cycle. Some analysts suggested a 5.4 year pattern (with hope for a final run at the bull market after all), while others argued cycles might be replaced altogether by a market shaped more by institutions than solo traders. At the same time, by the end of the year my social media feeds were filled with people talking about how 2025 was the year of the snake in Chinese zodiac, and that in February, we pass into the year of the Fire Horse. So what if 2025 was an important transition year, where crypto shed its Wild West reputation like a snake sheds its skin, in the direction of structural maturity and widespread adoption, under the auspices of the Fire Horse’s energy, enthusiasm and speed? Either way, markets are up despite geopolitical uncertainty, an interesting development, considering the impact of incidents in the past. And 2026 is shaping up to be very interesting indeed. Here are six things I’m looking forward to:
