RAK Health Insurance

Overview

The RAK Insurance health policies were brought into effect in 1974 when RAK Insurance was set up in the emirate of Ras Al Khaimah. In 2015, RAKBANK officially took over RAK Insurance with a majority stake of more than 79%. Today, RAK health insurance operates with a paid up capital of AED 110 million and is also listed on the Abu Dhabi Securities Exchange (ADX).

Boasting of highly effective risk analysis and underwriting processes, the RAK medical insurance does more than offer exceptional protection to its policyholders. The RAK Bank health insurance also incorporates innovative new practices and the latest technologies on the market to provide the very best of protection for its customers in Ras Al Khaimah and across the UAE.

RAK medical insurance coverage is available in three major varieties: as the Life Insurance plan, as the Dubai Essential Medical plan and as the RAK Essential Medical Insurance plan.

Features & Benefits of RAK Health Insurance

Hailed as one of the most comprehensive and affordable health insurance policies in the UAE, the RAK Bank medical insurance policy is catered to perfectly protect the interests and physical wellbeing of UAE residents.

Plan Types

Applicants can avail of the RAK insurance health policy via any of the three plans mentioned below:

1. Life Insurance: RAK health insurance offers a comprehensive life insurance plan that customers may avail of for a minimal monthly premium amount. This life insurance plan protects the policyholder in the event of accidental death by compensating the customer’s immediate family members for their loss.
2. RAK Essential Medical Insurance: This particular RAK medical insurance plan protects customers with a Ras Al Khaimah (RAK) visa across the RAK emirate. However, in emergency cases, the RAK Essential Medical Insurance plan offers cover across the rest of the UAE as well.
3. Dubai Essential Medical: As suggested in the policy’s name, the Dubai Essential Medical plan is the premier RAK health insurance in Dubai. It is offered to customers with a Dubai visa and is in full compliance with the mandates set forth by the Dubai Health Authority (DAH).
4. Reasonably Priced: For a premium as low as AED 499, customers can access the amazing protection offered by the various RAK Bank health insurance plans. This starting RAK health insurance premium amount makes policyholders eligible for a year’s protection and can be paid partially or as one lump sum, on approval from RAK Insurance. The Dubai Essential Medical RAK Bank health insurance policy offers a maximum insurance limit of AED 50,000 per year.
5. Flexible Tenors: The RAK medical insurance policy offers a customizable tenor in 12-month increments. Starting from a minimum tenor of 12 months, applicants may protect themselves with the RAK medical insurance coverage for a year or more as per their personal preference.
6. Hospital Network: In order to provide coverage without interruption, the RAKBANK medical insurance offers policyholders’ access to a third-party provider and their network of medical establishments. The third party provider that RAK health insurance employs is called IRIS Healthcare. As members of the RAK medical insurance, policyholders are protected across the clinics and healthcare centres in the IRIS Ezyclaim Network. The lengthy list of RAK insurance covered hospitals can be found on the RAK Insurance website.
7. Age Criteria: RAKBANK health insurance plan members can access coverage right from birth, and up to a maximum age of 65 years. This lenient maximum limit allows policyholders to enjoy the benefits of a worry-free lifestyle from birth to retirement.
8. Coverage: The RAK medical insurance policy offers coverage for an impressive variety of medical conditions, some of which are not even offered by other insurance providers in the UAE. Policyholders can expect to receive benefits such as vaccination cover, physiotherapy cover, preventative checks and more.

The Types of RAKBAK Health Insurance Plans

The three types of RAK health insurance plans are further expanded upon below:

Life Insurance

This RAK Bank health insurance plan is offered to customers in two formats, as explained below. As members of the RAK Bank medical insurance, policyholders are required to specify a beneficiary who will be given the insurance amount in the event of the policyholder’s death. The RAK medical insurance plan for life insurance is further split into the following types:

1. Protection: As a short term or temporary RAK insurance health policy, this form of life insurance protects the customer for small durations. The protection life insurance plan comes into effect only if the accident falls during the plan’s tenor.
2. Investment: Investment RAK health insurance policies are generally longer covers that protect the policyholder’s savings. Under this form of RAK life insurance, customers invest in various services and products as desired and are protected by the policy in the case of unforeseen accidents or emergencies.

RAK Essential Medical Insurance

Offered to Ras Al Khaimah visa holders, the RAK Essential Medical Insurance plan provides a comprehensive range of medical covers and maternity benefits amongst its many available services. Members of this RAK medical insurance are offered a maximum yearly limit of AED 50,000 which can be accessed with premiums as low as AED 499 (for a year’s cover).

Dubai Essential Medical

For applicants with a Dubai visa, the Dubai Essential Medical RAK Bank medical insurance is the perfect mix of affordability and protection. First and foremost, the Dubai Essential Medical offers all of the covers that the Dubai Health Authority (DHA) mandates for Dubai visitors and residents alike. But this RAK health insurance in Dubai goes above and beyond the standard DHA mandated insurance, offering customers additional services, benefits, hospital connectivity, and more.

RAK Health Insurance Inclusions

The table below contains the details of the scope of RAK medical insurance coverage for the popular RAK Essential Medical policy.

(Updated on May 2019)

RAK Health Insurance Exclusions

There are very few services that do not fall under the all-encompassing umbrella of the RAKBANK health insurance plans. These exclusions are subject to change as per the discretion of RAK Insurance.

1. Life Insurance Exclusions: The Life Insurance RAK health insurance plan compensates the policyholder’s immediate family members in the event of an accident that results in the customer’s death. However, death caused due to certain scenarios such as suicide, war, riots, etc will void this agreement.
2. RAK Essential Medical Insurance Exclusions: First of all, this RAK medical insurance is applicable for all RAK visa holding residents with a monthly salary that is less than AED 20,000. The policy does not cover pre-existing conditions, chronic conditions and maternity services within the first year of the policy’s tenor. However, all of these services become available from the second year onwards, i.e. as soon as customers renew their RAK health insurance However, in case of an emergency, policyholders with pre-existing conditions are still eligible to avail of the RAK medical insurance coverage within the set annual limit.

The RAK Medical Insurance Claims Process

Making claims is extremely simple and highly effective with a RAKBANK health insurance plan. Policyholders are issued a virtual RAK health insurance card to make such situations as painless as possible.

All RAK medical insurance policyholders are required to do is present their virtual RAKBANK health insurance card and their Emirates ID at the healthcare provider. RAK insurance covered hospitals usually immediately process this request, while hospitals outside this approved list may require additional documentation. Policyholders are also advised to note down or remember their policy number, as it will be required to access any of the RAK health insurance benefits.

Policyholders can find out more about the RAKBANK medical insurance plans and claims process by contacting the RAK Insurance support team at 800-7254.