Insurance Policy

What’s in your insurance policy?

With health insurance becoming a compulsion in Dubai, many people and organisations are now

looking to get coverage for themselves or their employees. But before proceeding and choosing any

insurance plan that you come across, it is important to get a thorough understanding of all the

aspects about your coverage and liability during a medical treatment. Once you are aware of all the

vital information, you would be in a better position to choose a plan that is the right fit for your

needs. Below we list down some of the key terms related to the insurance industry that every policy

holder should be able to comprehend.

Premium:

Premium is the amount you pay to the insurance company for your coverage. Payment for insurance

premiums can be made on a monthly, quarterly, half yearly or annual basis. However, it is advisable

to make premium payments annually as it turns out to be much cheaper compared to monthly,

quarterly, or half yearly. Last year, the overall premium amount in UAE rose by 13.5% to AED 33.5

billion.

Inclusions and exclusions:

The health insurance policies come with a long list of benefits and exclusions. Inclusions are basically

all the benefits that will be covered in your insurance policy. In simple terms, it consists of all the

ailments and illness for which you will get coverage in a listed hospital. Exclusions, on the other

hand, comprise of all the treatments for which you will not be provided any coverage in the list of

hospitals. For ex. if a woman is trying to get coverage from a hospital during pregnancy, she may not

receive the coverage if maternity is excluded from coverage.

Types of Claims

There are two types of claims that the insurance company offers. The direct settlement or the

cashless claims, as the name suggests, does not require the insured to pay any money out of his

pocket at the time of settling the bills at the hospital. In a cashless policy, the insurance company

directly...