UAE’s subcontinent residents find life insurance a slog compared to cricket rules
If you are a UAE resident from the subcontinent and you’re into cricket - it appears you are more in tune with the finer points of your favourite sport than your own financial needs.
According to a new survey from Friends Provident International, 39 per cent of residents from the subcontinent would find it easier to explain the game’s no-ball rule than a basic life insurance policy. Only 29 per cent said they were better at explaining a life plan than the cricket rule.
The poll, inspired by the Cricket World Cup currently taking place in Australia and New Zealand, also found that when asked what they would choose to go without if their income dropped, more people would discontinue contributions to their savings plans (19 per cent) than their sports subscription packages (15 per cent).
However, healthy financial habits are not entirely disregarded. If given a large end-of-year bonus, a third of those polled would top up their regular savings. This compares to only 3 per cent who would use the cash to jet to the southern hemisphere to catch a game at the Cricket World Cup.
While I’m all for enjoying your hobbies, as a personal finance journalist, I always advocate saving more and spending wisely when it comes to managing money.
But while I can tell you how a life insurance policy works, I have no idea what the no-ball rule is.
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Published: February 24, 2015 04:00 AM