Critical illness insurance take up isn’t as widespread as general medical insurance. While medical insurance has recently become mandatory in Dubai for employees and their dependents, critical illness insurance remains optional. This can have massive implications for those residents who don’t understand the difference, and it is likely they will only comprehend the extent of their cover when they are in a perilous situation. However, those who invest in critical illness cover from one of the many insurance companies in Dubai will be able to rest more easily at night. No one knows when disaster may strike, but we can be ready for it.
Critical care protection covers a multitude of critical illnesses that can severely impact your financial situation as well as your health. Even so, the take up of critical illness health insurance is quite low. This leads to terrible consequences when a critical illness is diagnosed, as the financial burden can add to the stress at a time that is already challenging. For those electing to obtain critical illness insurance or medical insurance UAE wide, you face a multitude of policy options, some of which cover common eventualities and some that cover rare ones. You’ll need to be certain about what your policy covers before you take it out. There are several reasons for why the take up of critical illness insurance is so limited across the UAE. It’s estimated that only 1 in 5 of UAE residents have critical illness cover, resulting in a widespread problem if the worst should happen. Conjecture has attributed this to the fact that residents feel invincible because of the success of their lifestyles. They disregard financial advisors when they recommend critical health insurance. However, it’s not just for those in middle age and beyond. If you’re young and are paralysed or suffer third degree burns, you have a lot of time left in your life to deal with the ramifications of that, not to mention the initial financial costs. You may have medical insurance with your employer, but this is limited and personal critical illness cover is a much better option for those wishing to keep their future secure.
When you’re searching for critical illness insurance quotes, the number available may be confusing. In addition, the benefits derived from individual insurance policies can differ quite dramatically. Dealing via a broker instead of approaching numerous insurance companies on your own can help cut through the confusion and aid you in finding the best deal for your particular circumstances. It’s also worth noting that critical illness insurance rates increase the older you are when you begin the policy. This is quite a natural decision on the part of the insurance companies themselves. After all, a policyholder is more likely to suffer from critical illnesses the older they become. The contributions if you begin a policy aged 40 instead of 30, for example, can increase dramatically. This, in turn, leads residents to think they can manage without it. The simple fact is, the earlier you get started with a policy, the cheaper your contributions will be. So, instead of approaching critical illness insurance companies, try applying through a reputable insurance broker and you’ll be matched to a critical cover policy that best matches your needs. How the policy is made up and how it functions varies from policy to policy. However, some experts advise against using critical illness cover as any sort of savings vehicle due to the charges and commissions involved in such policies. The standard recommendation for critical cover is eight times an annual salary. To find quotes that work for you, consult a broker like Insure4me.
At Insure4me, we’re committed to finding the best insurance deals for our clients. We have links with numerous insurance companies offering critical illness insurance across the UAE, ensuring that we have access to the most suitable policies for your circumstances. We deal with only the most reliable companies and utilise our passion for customer service to your advantage every time. You can find out more about the different types of insurance we can find for you by visiting our website at https://www.insure4me.ae/. Whatever you need insurance for, we’re confident we can get a great deal for you.