Healthcare is consistently undergoing advancement with time, which leads to early diagnosis of various diseases and improvement in treatment procedures. However, with the advancement, cost associated with OPD, MRI and other types of diagnostic procedures and treatment is increasing at a high rate. The drastic increase in medical expenses may lead to a big financial burden for common ailments, especially if a person lives in a costly city of Dubai.
Positively, one can get health insurance policy to achieve financial security by covering their medical treatments. Furthermore, health insurance gives certain tax benefits up to certain permissible limits. However, before you should choose a specific one, you should compare health insurance policies available online.
Claim Settlement Ratio
Claim settlement ratio of an insurance provider is a prime criterion to compare health insurance. This gives you an idea about rejection or acceptance of your health insurance claim. Thus, you have to search for a company, which has the highest claim settlement ratio, as you will have relatively less chances associated with rejection of your claims.
You should check the policies, which give the facility of cashless treatment. This helps you to avoid lengthy paperwork and prevent you shelling out reimbursable advance in the form of cash. Moreover, you should check the numbers of hospitals, with which a health insurance company has tie-ups. While you compare health insurance, you should especially pay attention to the hospitals and nursing homes near your native place and later on, check whether any of them has cashless tie-up with your chosen insurance provider or not.
Coverage Size and its Limits
You should look for an insurance policy that gives you maximum coverage and charges minimum premium amount by maintaining other conditions as unchanged. Besides, you should consider different caps in insurance policies on diverse diseases and related treatment options.
Portability related to Health Insurance
A policyholder can easily change the health insurer depending on his/her requirements. For this, a person does not need losing the benefit of waiting period related to the existing policy. Hence, you should go with an insurance policy that lets you porting to a different company. You should always keep in mind that porting does not involve any fee or charge.
Size of Your Family
Maximum numbers of family members to cover in a single health insurance policy vary among insurance companies. Each individual has diverse family size and specific requirements. Hence, a person’s requirement to cover different family members vary not only according to the size of his/her family, but also a few other aspects. These include financial strength, marital status and age. Hence, you should compare health insurance policies and select the one that suits the best according to your requirements.
Top Ups and Waiting Period
Most of the medical and health insurance policies have a clause of waiting period and it varies among companies. This means, the benefits associated with your chosen policy will start only after the elapse of a specific period associated with your purchased health insurance policy. However, none of the claims is permissible during the respective period. Furthermore, you should check various top-up plans, which you can get from the available policies. A top-up plan refers to a facility, where an insurance provider gives you additional coverage in the case you exceed the mentioned threshold limit.
Health Insurance and Healthcare Team
Lastly, while comparing the available medical or health insurance policies, you should check and assure that your chosen insurance provider has its fully dedicated team to conduct each of the medical claims and related tasks, so that the claims will proceed at a faster rate.