Life Insurance for Senior Citizens in Dubai

By Shivangi - 30 Mar 2022 Last Updated: 01 Jul 2022
Life Insurance for Senior Citizens in Dubai

Health Insurance is mandatory in the UAE, regardless of age or profession. It has been observed that as people grow older, the cost of medication and the number of hospital visits rise.

Keeping this in mind, several health insurance companies in Dubai came up with health insurance plans focusing on elderly people. In this article, Dhanguard is going to explain the importance of the Senior Citizen Health Insurance Plan in the UAE.

Why Should Senior Citizens in Dubai  Purchase  Medical Insurance?

Due to a worsening physical state, aging can bring up a slew of problems. It has been noticed that after a certain age, people are much more likely to become ill, and that they do so frequently. This could put a huge strain on a family's finances, which is why senior citizen health insurance is so essential. Several health insurance providers in the UAE provide great senior citizen insurance coverage. The medical expenses are covered by these health insurance programs.

Senior citizens' health insurance policies provide medical coverage to people over the age of 60. 

Advantages of Senior Citizen Health Insurance Plans

Here is a list of the distinct advantages of a senior citizen health insurance plan 

  • Hospitalization without spending any money;

  • A larger insurance amount;

  • Expenses for daycare;

  • Heart attacks and strokes are covered;

  • Pre-existing condition coverage;

  • 15-day free-look period;

  • There is no need for a physical evaluation;

  • Medical examinations on a yearly basis;

  • Coverage for pre-existing conditions

  • Option for perpetual renewal.

Things to Keep in Mind While Getting Senior Health Insurance Plans

Here is a checklist to keep in mind when applying  for senior citizen health insurance:-

Hospitalization Perks

Make sure you look into the various insurance companies' in-hospital benefits. For older adults, the number of hospitals covered by hospital networks may be greater. Do your research and find an insurance company that offers the most benefits.

Pre-Existing Disease 

Pre-existing illness rules vary per health insurance company. If you have any pre-existing disorders, make sure to read the terms and conditions.

Waiting Period

Check the waiting period limit before buying any insurance policy for your parents. In some situations, a waiting period may prevent your loved ones from receiving risk coverage for a period of time. The waiting period for health insurance policies in the UAE is between one and two years. After this period has passed, policyholders are entitled to be covered.

Co-Payment Clause

If your insurance coverage allows it, examine the percentage of co-payment. Depending on the terms of the policy, the co-payment percentage can range from 10% to 20% of the entire value insured.

Guaranteed Payment

In comparison to conventional health insurance policies, the sum assured for senior individuals is frequently different. You should buy insurance with a bigger sum assured because seniors are more likely to get sick.

The Policyholder's Age

When it comes to choosing the correct insurance policy, the policyholder's age is extremely important. When purchasing health insurance coverage for senior citizens, the premium is usually quite high.

How Can Senior Citizens Find the Best Health Insurance?

Here's how to compare several insurance policies and pick the best one for senior citizens.

Explore the Plans

Before getting a senior citizen insurance plan, you must first review a list of options to see which one best meets your needs. 

Consider Your Parents' Medical History

Keep in mind your parents' medical history. The amount of your insurance premium is influenced by your pre-existing medical conditions.

Check the Sum Assured

Since senior persons are more likely to become ill, medical insurance plans for them normally have a higher sum assured. Make sure you acquire the greatest plan possible, one that covers all you need.

Provide Accurate Information

Ensure that your insurance provider has all of the necessary information, including your personal information and medical records. This is useful in the event of reimbursement or an emergency.

Comparing and Selecting a Plan

After you've taken care of all of the other details, connect with our experts at Dhanguard to examine all of the plans and pick the one that best suits your needs.

Eligibility to Buy a Senior Citizen Health Insurance Plan

There are some things you should know regarding senior citizen health insurance eligibility criteria, which are as follows:

  • In most circumstances, if you are 60 years old or older, you are eligible to acquire any healthcare insurance plan created just for seniors.

  • There are a few insurance firms that set the age restriction a little higher or lower depending on their own personal requirements, but the lowest age limit is usually around 60-65 years.

  • The eligibility criteria for senior citizen health insurance policies have no upper age limit.

  • To be eligible for the insurance plans, you must also be a UAE national or resident. Non-residents and expats have access to the same programmes and perks as residents.

How can Senior Citizens Register a Health Insurance Claim?

Here is a simple procedure for obtaining a senior citizen's health insurance plan:-

Claim Registration 

Submit a claim on the website of your insurance company.

Provide Documents

You must submit the required documents in order for your claim to be approved. To get your claim approved, upload the documentation to the web portal and submit it.

Wait for Approval 

Once you've completed that, you'll need to wait for your medical claim to be approved.

Conclusion

In Dubai, senior persons are regarded as significant assets to the community and are treated as such. These incentives for Dubai's elderly are a way of thanking them for their contributions to the emirate's growth and development. Aside from these old-age benefits in Dubai, the elderly who have worked for private companies are entitled to end-of-service rewards as defined by UAE labor laws.

For the time being, that is all we have for you. For more information, connect with Dhanguard will provide you with even more helpful information on life in and around Dubai. Get your Medical Insurance just by a single click!

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By Shivangi

30-Mar, 2022

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