Don’t gamble with your health, get the right cover at the right price.
But before you dive into a deeper analysis of health insurance companies in the UAE, it is essential to circle out the top choices. To make your task a bit easier, here’s a list of the top 10 health insurance companies in Dubai, UAE with a brief introduction to the kind of health insurance plans each one of them offers:
|Top 10 Medical Insurance Companies in UAE|
|9||Al Sagr Health Insurance|
|10||Daman Health Insurance|
Orient Insurance is a part of the Al-Futtaim Group and was started in 1982. It has been on a path of steady growth and rise since its inception and is known to be one of the top health insurers in the country. Orient Insurance PJSC offers a number of health insurance with each one catering to a particular set of requirements and groups. The company secured the highest net profit consecutively for two years in 2010 and 2011 in UAE along with the ‘An Excellent’ rating from AM Best, the highest offered ranking in the book. Along with having a distinctive set customer base in all the seven emirates, Orient Insurance has also made its presence known in countries like Sri Lanka, Egypt, Turkey, Muscat, Oman, and Bahrain.
Alliance insurance is a UAE-based medical insurance company in Dubai that has been in the business for over 40 years now. The best thing about health insurance plans offered by Alliance Insurance is that they are extremely detailed and segregated on many levels to suit the needs of each user. Alliance was established in 1975 and its headquarters are located in the Emirate of Dubai although, you can find the branch offices anywhere in the seven emirates. The health insurance plans offered by Alliance Insurance not only come with several options to choose from but also offer a diverse range of coverage amount to suit all budgets. This one of the best affordable health insurance companies in UAE.
As far as health insurers with a conservative approach to the insurance business are concerned, DNIRC takes the top place. With an experience of about 30 years, DNIRC has been a customer-favorite since the day it started. It is not only backed by a number of big players of UAE, like SCOR, Munich Re, and Swiss Re but also has a large number of public shareholders. DNIRC was the very first company that was registered with the Dubai Financial Market. This medical insurance company in Dubai offers a number of individuals, family, and corporate health insurance plans and is supported by a huge network of hospitals and other medical facilities. DNIRC boasts five different networks of medical facilities, each one with further bifurcated networks within, applicable to different kinds of healthcare plans.
Sehteq is one of those health insurance companies in UAE that came into existence later than their competitors but made a huge name for them. Sehteq was established in 2017, supported by Ras Al Khaimah Insurance and has quickly become the biggest insurance company in the country. The profit margin earned by Sehteq recently was double of what it made last year which says more than enough about its speedy race to the top of the list. Sehteq offer completely digitized insurance solutions to its customers and operates 5 of the biggest legacy medical insurance companies in Dubai the country. It offers over 15 high-risk insurance plans to its customers along with reinsurance services. Sehteq is also a network provider partner with many top insurance companies in Dubai including DNIRC offering several networks for in-patient treatment.
Watania or National Takaful Company (PJSC) was established in the year 2011 and is known as one of the most popular sharia-compliant takaful medical insurance company in Dubai and the UAE. Abu Dhabi National Energy Company, Al Dar Properties and Abu Dhabi National Insurance Company came together to lay the foundation of this company. Watania offers over 10 different types of medical insurance plans to the customers and has partnered with NAS, Next Care and MED Net as its network providers. Watania saw an increase of about 40% in their net profit for the year 2020 as compared to the profit of the year 2019 ensuring that it is becoming a rather strong contender for the list of top takaful insurance providers in the country. As evident, Watania only offers sharia-compliant takaful which is in complete harmony with the insurance rules laid out by an independent surveillance body.
Also referred to as the second-largest takaful medical insurance company in Dubai and UAE, Noor Takaful has a very established customer base in the country. Offering a number of sharia-compliant insurance plans, Noor Takaful has grown into a multi-million empire in a very short time since it was founded. Noor Takaful registered as a takaful insurance company in 2009. It was the very first company of the lot to abide by Federal Law 6 drawn out in 2007. Noor Takaful takes pride in its ethical approach towards insurance scope and has won several awards and accolades since its inception. There 5 different plans offered by this health insurer for individuals, dependent and house help insurance, and two separate plans for employees and their dependents for corporates and SMEs.
Takaful Emarat Insurance PSC was founded in the year 2008 and is another one of the leading takaful providers in the UAE. Takaful Emarat exclusively offers life and health insurance plans only which in compliance with the Sharia law of takaful. The risk is shared by all the participants of takaful and everyone is liable to receive help as and when they require it. There is an independent sharia committee at Takaful Emarat that oversees the operation of this health insurer and regulates the takaful plans.
Union Insurance is a UAE-based insurance company that was established in the year 1998. IT is known among customers for offering insurance products ranging across all domains of the insurance market. Union Insurance has several health insurance plans which are segregated on the basis of benefits as well as regions. Union Insurance Company is supported by several global organizations like Swiss Reinsurance Company, SCOR Reinsurance, QBA Europe, Lloyds. Hannover Reinsurance and Generali. The health insurer started with a paid-up capital of AED 330 million and has grown significantly ever since its inception.
Founded in the year 1979, Al Sagr is one of the oldest health insurance companies in the UAE. This health insurer is registered with UAE’s Ministry of Economy and Commerce and operates under the Federal Insurance Law 9 laid down in 1984. The company is known among customer for its wide selection of insurance plans and the wide scope of services they offer in every insurance field. Al Sagr is a public shareholding company that started with an investment of AED 10 million. Now the company has built up a paid-up capital of AED 230 million in its 4 decades of service.
A rather new addition to the group of locally founded health insurers of UAE, Daman Insurance or the National Health Insurance Company was founded in 2005. It is a non-life insurance company and operates on health insurance plans only. Daman has a huge network of healthcare providers and serves almost 2.5 million customers today. Daman also organizes several health events throughout UAE to help its customers stay healthy and fit.
The first thought that comes to your mind when choosing a health insurance company could be to choose the one that has lower premium rates. However, that may not be the smartest decision to make. One thing that you need to understand is that the lower the coverage amount of an insurance plan, the lower the premium will be. This simply means that you may not be able to have all the expenses covered by the insurance company if you claim of a high amount.
You should always try and find an equilibrium of just the right amount of coverage and the amount of premium that you can easily pay. The right coverage amount for you will be the one that not only offers a significant amount of cover in monetary terms but also includes in-patient and out-patient services such as daycare, ambulance expenses, etc. Choose an insurance company that has all these services included in its plans along with the monetary annual cover.
Not every insurance will cover all the same treatments, procedures and medicines. You must browse through the basic as well as additional optional inclusions offered by the health insurance companies in Dubai and then make an informed decision. For example, several health insurance companies in UAE add dental cover as a basic inclusion across all their personal and commercial health insurance plans, some add it as an optional benefit and some do not add it at all. The cost of dental treatment is high in UAE so, if you see a probability of needing this treatment in the foreseeable future, it is smart to choose the company that at least offers it as an optional cover.
There could be times when you come across health insurance companies in Dubai that are offering a very high coverage amount as well as too many services and treatments in too little of payable premium or deductibles. Always beware of these organisations as there is a good enough chance that they are
If you have dependents in your family who are not covered in the insurance plan provided by your employer, you should consider opting for an insurance company that offers a quality family health insurance plan. It will be a less expensive alternative than insuring each member of your family under an individual healthcare plan. Many health insurance companies in Dubai and UAE also offer a segregated cover option in family plans as well where you can decide to allow a portion of the cover to each member or keep it open. When portions are allotted, each member will be able to use only that amount of coverage money from the insurance ensuring that other members can use the insurance covers as well.
It may seem like a bleak point but this can come in handy when you are older. Insurance will keep costing you more and more if you buy it when you are older. If your insurance company offers you insurance plans that can be renewed as many times as you like for your lifetime, you will not have to buy a new more expensive plan when you are older.
If your insurance company has a bigger network of hospitals and clinics, you will be able to get cashless treatment easily without having to travel much. While filling a reimbursement claim is not very difficult when top health insurance companies in Dubai and UAE are concerned, it still can be a bit of a hassle as compared to cashless claims.
The better the claim settlement ratio your insurance company has, the more are the chances for your own reimbursement claims to get approved. While it is a rather meek possibility that your claim will get denied or rejected if there is nothing wrong with the documents, forms and details, it is still better to have an insurance company with a high claim settlement ratio.
Getting reviews from existing customers or even insurance aggregators like Policybazaar.ae can be a lot helpful in deciding an ideal insurance company for yourself. You will get to know the experience of an actual customer of the company as well as insights from the experts of the field.
Comparison is the key to buying good whether it is health insurance or any other product. Always compare the services and plans offered by the top health insurance companies in Dubai and see which one of them are most suited to your needs. In addition to that, do not forget to compare the different health insurance plan offered by the medical insurance companies in Dubai that you choose after the first line of comparison. You can compare the companies swiftly at insurance aggregators’ websites like Policybazaar.ae or take your time visiting each health insurers’ website separately.
Ans: Almost all top insurance companies in Dubai and UAE offer cashless hospitalization for treatments done in one of the network hospitals. Reimbursements are available for out of network hospitals.
Ans: You can change your health insurance provider easily but this can generally be done only during the renewal or new enrolment period of your health insurance plan. The new health insurers should be notified beforehand as well.
Ans: This depends on the terms and conditions laid out by your health insurance provider. If plan portability is allowed by both the current company and the new company, you can port the plan.
Ans: There are 62 health insurers in UAE as per the data available in 2021 out of which 35 are national insurance companies based in UAE and 27 are international insurance companies.