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What is Medical Insurance?

Medical insurance is a type of insurance that pays for unexpected healthcare expenditures brought on by a disease or any form of major injury. These costs may be associated with the price of hospitalization, the price of medications, or the cost of doctor visits.

It covers medical and surgical costs for an insured person. Depending on the terms of the insurance policy, either the insured pays expenses out-of-pocket and then receives a reimbursement, or the insurance provider pays expenses directly.

Healthcare Insurance provisions in UAE

The UAE government has ruled that healthcare coverage is a must for every citizen. The state government provides financial support for the healthcare system there. In each state, there are various health authorities that oversee the system. The vast network of contemporary healthcare facilities available to those seeking care for a variety of serious and minor medical conditions is the best feature of the UAE healthcare system. 

Why invest in Mediclaim?

The cost of healthcare or Medicare is increasing yearly. In actuality, healthcare inflation is higher than that of food and other goods. Healthcare costs typically rise by double digits, compared to single digit inflation for food and clothing.

Finding money at the last minute can be difficult for someone who hasn't saved much money. Given that the majority of illnesses develop in older people, this presents a particular challenge for seniors.

Getting health insurance is one way to cover unexpected medical or health needs. Regarding coverage for diseases and ailments, health insurance offers a great deal of flexibility.

The following are some benefits for purchasing health insurance:

It helps you address highly variable medical costs

It assists you in effectively manage your medical costs to protect your family from unforeseen financial situations

You receive an optimal standard of healthcare

No worries of losing all of your savings in an instant

Handle lifestyle-related diseases better with a critical illness cover

With health insurance, you can be sure of a more secure future in terms of both your health and your finances. Health insurance policies are therefore essential for individuals.

Types of Medical Insurances in UAE

The categories of health insurance offered by various service providers across the UAE are  somewhat different than those in other nations. The following are some widely known plans -

1. Basic Health Insurance

A fundamental health insurance policy protects policyholders from all medical costs incurred as a result of an illness or injury. When you or a member of your family is admitted to the hospital, these plans will pay for the cost of your medical care.

2. Comprehensive Health Insurance

The most comprehensive form of protection against medical costs is comprehensive health insurance. The cost of diagnostic tests, prescription medications, doctor consultations, and other urgent ambulatory care and hospitalisation medical expenses are all covered by the comprehensive health insurance plan. Pre- and post-hospitalization costs are covered by comprehensive health insurance plans.

Personal accident insurance, critical illness insurance, family floater health insurance, and many others are among them. Individual health insurance is also one of them. For serious conditions like cancer, paralysis, and heart attacks, etc., the majority of insurance companies offer comprehensive health insurance plans.

3. Shariah Compliant Health Insurance

Takaful Insurance is another name for shariah-compliant health insurance. Members of takaful health insurance can make financial contributions to cover each other's medical costs. These medical insurance plans explain that people have a duty to look out for one another and are based on Islamic religious law.

Life and health insurance benefits are provided by takaful health insurance plans. Members of Shariah Compliant Health Insurance Plans consent to make contributions to a mutual fund rather than making monthly or yearly premium payments. The insurance sum is paid from the Shariah Compliant Health Insurance fund established by other members if any member files a claim.

All of the funds are managed by a takaful operator, who also handles all of the participants' claims and charges an agreed amount of fee.

4. Health Insurance with First-Hand Hospital Tie-ups

These health insurance plans are directly connected to the hospitals in their network. To assist policyholders in managing their finances more effectively, they offer cashless benefits.

You are not required to pay your medical bills with these plans. Instead, you can just request that your insurance provider pay your medical expenses directly.

The monthly and yearly insurance premiums for each of these insurance plans vary. You can contrast the basic health insurance options provided by different insurance companies to find the one that best suits your needs. 

Discover the best Medical Insurance Companies in UAE!

You must pick a health insurance plan that offers full coverage and meets your needs from the variety of options on the market. Everything is dependent on your present financial and medical situation. To reap the rewards in the future, you must decide wisely today. Discover the leading firms covering a vast spectrum of medical insurance services from anywhere within the UAE on and get your healthcare needs secured right away!