Medical health insurance in Dubai is a must if you want to ensure that you benefit from the best healthcare. However, before you go ahead and choose health coverage, you need to be aware of what an excess / deductible is, and how it impacts your policy. Find out more below.
Deductible and excess are both terms that are used to describe the amount of money that you need to pay before your insurer will start paying for medical expenses. A lot of people choose a higher deductible, as this will result in lower premiums. However, it is important to find the right balance. You need to make sure that you can afford the excess amount; otherwise you will find yourself in a sticky situation when the time comes to make a claim. It is important to recognise that deductibles are handled differently from company to company. Some insurance companies will set a deductible per year, while for others it will be per insurance period or per incident. The best way to illustrate this element of medical insurance is with an example. So, for instance, you may be quoted 600 Dirham for health insurance cover without a deductible. However, if opt for a high-deductible plan, your premiums may be reduced to 300 Dirham. Nevertheless, this will mean you need to fund a large portion of any claims yourself and, therefore, you need to decide if it is worth it. It is all about balance.
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