More than half of UAE employees do not have adequate funds to survive financially for three months should they have to leave their job due to critical illness, and more than a quarter would not even survive one month, according to a new study. 

There is a lack of preparedness for critical illness by the average UAE-based employee, life assurance provider Friends Provident International (FPIL), noted in its report.

“All employees in the UAE are woefully unprepared to survive financially if they can’t work,” said Stuart Shilcock, the company’s Head of Sales, Middle East.

The study, which surveyed 1,000 UAE-based employees, showed women were more confident than men that they were prepared for critical illness, with 12 percent of men and 14 percent of women believing they could survive a full 12 months in the event of job loss due to illness.

More than two thirds of Emirati, Arab expat and Asian workers didn’t believe they could survive financially for three months if they fell ill and lost their jobs.

Western employees were even less confident, with 71 percent believing that they could not manage financially for three months if they became ill and couldn’t work.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

 imogen.lillywhite@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021