Thinking of buying health insurance in the UAE? You are certainly on the right track, considering that medical insurance in the UAE is a must to safeguard you and your family members from future costs of medical treatments, procedures, surgeries and hospitalization. However, simply comparing health insurance policies in the UAE will not do the trick. You need to keep some crucial pointers in mind before going ahead with your decision.
Here are some things to keep in mind before opting for medical insurance in the UAE:
The waiting period for most health insurance policies in the UAE is usually 2-5 years for pre-existing ailments. Hence, insurance companies do not register claims linked to such diseases before the expiry of the waiting period. You should hence compare health insurance plans and choose the one that has the lowest waiting period. You should also get health insurance coverage as early as possible.
Prior to choosing any health insurance policy, ensure that you carefully check the claims process at the company. A smooth and convenient procedure is a must, since this will help you whenever you need funds urgently. Check parameters like the claim settlement ratio and settlement timelines before finalizing any specific policy.
Examine whether the insurance policy is accompanied by maternity coverage benefits. With increasing costs of pregnancies and hospitalization expenses to boot, checking this aspect carefully is highly important. There is usually a 2-4 year waiting period before one can raise claims in this regard. Remember to go through the inclusions and exclusions carefully.
The right premium and coverage amounts
A balance has to be drawn between the coverage amount and payable premium. Choose a policy which offers extensive coverage as per your needs. At the same time, you should not lose sight of the health insurance cost in the UAE. Your premium should not be exorbitant, while you should get ample coverage as well. Striking this balance is highly essential.
Cashless treatment and hospitalization
Check the list of network hospitals at the insurance company. Cashless treatment is a boon, saving the time and paperwork required for admission. The insurance company will pay the hospital directly instead of you having to fork out the sum initially.
Coverage for post and pre-hospitalization costs
Check whether there is coverage for both pre and post-hospitalization costs including diagnostics, medicines, ambulance costs, fees of doctors, etc.
NCB (No Claim Bonus)
The NCB (no claim bonus) is the discount given by the insurance company for not filing any claim for the year. The sum assured may increase at the time of renewal for the entire claim-free duration. Most insurers in the UAE will list the NCB threshold which you should check carefully.
Regular medical tests and check-ups are essential after attaining middle age as per experts. Hence, check whether your insurance coverage also extends to medical check-ups, or whether free check-ups are offered to customers.
You should look into all these aspects before finalizing your health insurance plan. Compare policies from leading UAE insurers on the basis of the parameters mentioned above. A little homework will always help you make the right decision.