Health Insurance Mistakes You Should Avoid

Image courtesy: www.bayzat.com

With the introduction of the health insurance law in Dubai every individual is

required to purchase a health cover. (It is mandatory as of January 2015.)

While this may seem like an extra burden to the already existing monthly

expenses, we must sit back and consider why health insurance is important.

Due to the very unpredictable nature of life, we can never be prepared enough

for what might happen in future. Bad health conditions occur unannounced

and we often become helpless in such situations. Having suitable health

insurance will ensure that we are at least financially covered during these hard

times.

However, when purchasing health insurance we need to weigh the pros and

cons in order to pick the most appropriate policy for us. Following are some of

the mistakes we should be careful not to make while choosing a health

insurance policy:

a) Similar to selecting any other financial product, a thorough research

should be done on all available health covers as the initial step. Experts

at Bayzat will suggest health insurance providers that meet your

requirements. You can also enquire from friends and family regarding

their experience. Utilizing the Bayzat platform can be an easy method to

identify the best plan. Once a suitable policy is selected, always make

sure to review the terms and conditions closely before making the

purchase. Customers are highly advised to go through the insurance

company’s handbook to understand the limits of the coverage. Bayzat’s

experts can help you choose an appropriate cover, suitable inclusions

and exclusions as well as with the necessary documentation required.

b) You should never conceal or withhold your accurate health condition

from the insurance company. Insurers monitor your health claims very

closely and therefore will find out if false information was provided.

Upon such discovery, the insurance company has the legal right to annul

the health insurance plan and you will end up without any cover, even if

your claim is legitimate. The main purpose of purchasing a health

insurance is to be covered during bad health and it is unwise to put this

advantage in jeopardy due to your reluctance to reveal your health

status.

c) The monthly premium depends on the annual cover, among other

factors. Certain benefits, which come with higher annual covers, might

not be worth it if the benefits are not used frequently. Meanwhile not

covering some health issues can cost you more at the end of the day as

you will have to spend on medication in addition to the monthly

premium. Therefore, you should always strive to balance, the monthly

premium cost and the benefits offered, before reaching a decision.

Read more : https://www.bayzat.com/blog/category/health-insurance