When it comes to your and your family’s health, there is little that is more important. Apart from it being the law in the UAE to have medical insurance in place for those living and working in the likes of Dubai and Abu Dhabi, it’s also an area of continuous growth in the UAE. Medical insurance companies are taking huge leaps in trying to educate and guide residents on the importance of good medical care and insurance, so we thought it would be beneficial to provide a little guidance of our own.
Below are our top tips on how to find the best possible medical insurance plan for your needs.
Top Tips from a Medical Insurance Specialist in the UAE
The UAE offers some of the best medical care in the world, but it’s not cheap, which is why it’s now more important than ever to ensure that you have the right insurance in place.
Understand Your Needs.
The first and arguably most important step is to understand what your needs are to ensure they’re met. Consider points such as if you’re a single claimant or if you need to meet the needs of your family. Your age, any pre-existing medical conditions, and the size of your family also count so you can cover each family member’s health needs.
Research Coverage Options.
At this point, you can look into the different coverage options and consider the cost of medical treatments, daycare expenses, pre- and post-hospitalisation, transportation, and illnesses that run through your family history. Basic plans tend to cover essential medical expenses, while comprehensive plans offer a wider scope and tend to cover specialist consultations, prescription medications, and even dental and optical care.
Check Out the Network of Hospitals and Clinics.
After comparing coverage options, it’s then important to look at which hospitals and clinics are local to you or easy to get to and check their ratings and reviews as each medical insurance provider will be associated with different establishments, and therefore may not offer insurance coverage to a hospital that is closest to you.
Evaluate Your Budget.
Next, understand how much you and your family can afford and compare this against your needs. It’s important to look at the fine print and understand if there are additional expenses that could affect your cost. Some plans may have higher premiums with lower out-of-pocket costs while others may have lower premiums with higher co-payments or deductibles. Understanding your budget and finding a plan that strikes a balance between your needs and affordability is best. Some other points to consider are the Claim-Settlement Ratio (CSR) which is the total number of claims that can be obtained and fixed by the insurer and also a company that offers a higher sum assured, which means that you are likely to be covered for a higher amount.
Understand Exclusions and Waiting Periods.
Within the fine print, it’s also important to note the exclusions and waiting periods specified by each policy. Exclusions are any conditions or treatments not covered and waiting periods are the time you must wait before certain benefits become effective.
Take Note of Additional Benefits.
Once you have understood the fine print, look into the bonuses that come with each plan and understand which are most suitable for you. In the UAE, medical insurance plans can offer maternity coverage, wellness programs, and international coverage so it’s important to assess which of these meet your current needs.
Compare Medical Insurance Plans.
Once you have worked your way through the above 6 steps and have a handful of plans in mind, sit down and compare your needs against each and strike a balance of which will work best. It’s also important to ensure that your chosen medical insurance plan complies with the relevant regulatory body for your emirate.
Work with a Medical Insurance Expert Who Specialises in Medical Insurance in the UAE.
You can take the stress out of finding the best medical insurance for your and your family’s needs by using a medical insurance specialist like IAE Insure. Using an insurance expert who understands your needs, budget, and circumstances and does the hard work for you, finding basic, comprehensive, and even golden visa insurance plans can be the best option, especially if you have a small family.
IAE Insure: Your Medical Insurance Specialist
We are a premier medical insurance specialist in the UAE, providing insurance for over 20 years within the UAE, and have a vast amount of expertise in finding top-tier insurance solutions for our valued clients. Our extensive network includes over 40 local, regional, and international insurance providers, ensuring that you receive the best options tailored to your needs.
Contact us today to receive a free quote and see how we can help you find the medical insurance you need.
