Time has been changing rapidly in almost every sector of life and healthcare is not an exceptional case. This latest trend that we have been witnessing somewhat sounds like the following points:
- There is a continuous growth in the number of consumers aware of medical insurance.
- The Medical Insurance Companies are trying to reach every corner of the UAE and guide people about the importance and advantage of opting for a health insurance policy.
- The rising costs of medical facilities have made it tough to avail the best healthcare treatment without spending a huge amount of money.
Therefore, health insurance policy is not less than a boon in today’s time and it is one of the important insurance policies to have considering the rise in health-related issues at an early stage of life now these days.
As you all know that life is uncertain and we can’t predict anything in advance and there could be a sudden illness or accident. Hospitalization and medication can be very expensive. With better medical treatment, the medical cost also rises and this is where a health insurance plan comes into the picture. A right medical insurance plan makes it easy for you to get the cashless facility in the network hospitals which provide you financial protection and peace of mind during a medical emergency.
But now the main concern is there is a wide range of health insurance companies that offers different medical insurance plans in UAE. So, it becomes quite confusing to choose the medical plan that is best for you. To help you in this, here we have listed the 7 key factors that will help you to opt for the best medical insurance in UAE:
1. Search for the Right Insurance Coverage
When it comes to health insurance, simply choosing a medical plan that is available on a lower rate of premium is not an ideal way to go. Usually, such kind of health insurance plans offers inadequate coverage and you’ll only end up paying more out of your wallet for any medical expenditure, and rendering the point of buying health insurance in the 1st place is useless.
Considering the increasing cost of medical treatments, it has become quite imperative to opt for a plan that offers maximum coverage so that it can protect you against a maximum of medical issues and offers benefits including daycare expenses, pre & post hospitalization, transportation, and illnesses that you might be at great risk of due to your family’s medical history, and much more.
And if you are purchasing a plan for your family, don’t forget to check whether the medical insurance fulfills the need of each family member for whom you are buying it. Do consider all their medical needs, compare health insurance UAE based on benefits and premium, and then choose a plan that meets all of your requirements.
2. Opt for a Medical Plan with Lifetime Renewability
While buying a health insurance plan, be sure you check for how many years the medical plan will cover you or whether it provides lifetime renewability or just for a limited period. You know, why? Because the requirement for medical insurance increases as you grow older and so does the cost of buying it. That is why it is quite important to buy a health insurance plan that offers lifetime renewability.
3. Prefer Family Health Insurance Plan over Individual Ones
Individual medical plans are good for those people who don’t have a family to support. But, if you are purchasing a medical plan considering your family members in mind, then you should buy a Family Health Plan in order to avail maximum health insurance benefits at an affordable premium.
4. Compare Different Health Insurance Plans
As mentioned earlier, there is a wide range of health insurance companies that offer different health insurance plans. You can compare health insurance online in order to find the best plan for you and your family members that can meet your requirements. Certain things that should be considered at the time of comparing health insurance plans include the features of the medical plan, the sum insured under the medical policy, the add-on benefits provided by the insurance company, and the network of hospitals that are associated with the insurer. Comparing the different medical insurance quotes based on these key features and benefits will help you to make a well-informed decision.
5. Network Hospitals Coverage
When you buy medical insurance, you need to look at the network of enlisted hospitals where you can get the cashless treatment during a medical emergency. Always choose a medical insurance company that has a broad network of hospitals globally.
6. Higher Claim-Settlement Ratio (CSR)
Claim-Settlement Ratio is basically the ratio of the total number of claims obtained and fixed by the insurer. You should always choose an insurance provider who has a higher CSR. This eventually enhances the chances of your medical claim getting approved during an incident because such kinds of insurers have a good record of settling medical claims.
7. Higher Sum Assured
A medical insurance company reimburses expenses up to the sum assured of the health insurance policy. The higher sum assured simply will simply mean that you will be covered for a higher amount. And it can be very helpful for you if you residing in a higher tier city.
Keep the aforementioned tips in your mind while buying health insurance online or offline. These handy tips will help you opt for the best health insurance plan. After all, it’s a great investment that you are making in order to protect yourself from the financial burden of increasing medical treatment cost so choose the right one to make the most of it.