Breaking Myths about Critical Illness Insurance in UAE

Leading our lives while battling a series of myths can cloud our judgement to a very dangerous level, no matter the subject concerned. The same is the case with critical illness covers in UAE. It is no secret that critical illnesses are one of the most feared ailments, given the amount of pressure – mental and physical – they bring to the table. The topmost cause of deaths in the UAE is coronary heart disease – a classified critical illness.

It is true that awareness regarding critical illness health insurance has increased several folds now. Although, there are still some myths that can lead to huge problems at the time of claim approval or even buying the plan. This makes it all the more important to clear out the myths that surround them insurance covers that can offer support for a critical illness – critical illness covers. Let’s bust out some of these myths:

Busting Top 10 Myths about Critical Illness Insurance in UAE

1. All critical illnesses are covered in a Critical Illness insurance plan

The most common myth or misconception about the cover is that all critical illnesses are covered in a critical illness cover. The fact is that there are several critical illnesses but not all of them are covered by critical illness health insurance covers. The kinds of critical illness covered in your health insurance plan completely depends on your health insurance provider. Most of the best critical illness covers include 20-30 critical illnesses out of the lot. However, some providers may even provide coverage for 36-38 critical illnesses. The number of critical illnesses covered can also depend on the comprehensiveness of the plan that you choose.

2. I am eligible for a cover immediately after I am diagnosed with a critical illness.

This one myth can be classified as half-myth. The fact is that the eligibility of cover for every critical illness covered by your plan can differ individually for each of them. For example, most health insurance providers only start to cover for the treatment of pancreatic cancer when it is classified as medically necessary by the doctor. Similar kinds of clauses can apply to every single critical illness covered by the insurance provider. So, make sure you read the terms and conditions written in fine print.

3. Claim eligibility does not apply to critical illness covers.

This statement is a complete myth. The hard fact is that just like any other kind of health insurance claim, the claim settlement and approval process for critical illness is also subjected to a certain number and levels of eligibility trials. You may get the option to go for a cashless direct claim for several critical illnesses, depending on the terms of your insurance provider. Although, most critical illness health insurance plans work on a reimbursement lump-sum claim process basis. In either of these two cases, claim eligibility still applies to all the plan holders.

4. Riders or add-ons are not applicable for critical illnesses.

It is a common myth that critical illness cover can only be bought standalone and you will have to purchase an additional insurance plan for the coverage. The fact is that most comprehensive health insurance plans in the UAE come with riders related to critical illness covers. You can easily choose to get an add-on for your basic health insurance plan and get covered for the critical illness of your choice. The only thing important to note here is that the coverage that riders offer is far lesser than the coverage offered by some of the best critical illness covers in the UAE.

5. Premiums are sky-high for all critical illness insurance plans.

All critical illness plans coasting bringing unbelievably high premiums is just a simple myth. If you research well and compare the available options, you will realise that not all good critical illness health insurance plans cost a fortune. A difference is bound to be there among the different plans inspired by the number of illnesses covered, the core benefits, total coverage amount and additional benefits. However, you don’t have to spend every Dirham in the bank for proper coverage. Compare on trusted sources like PolicyBazaar UAE to find out the plan that suits your needs the best without costing everything from your savings.

6. All types of cancers and tumours are covered by critical illness insurance plans.

Cancers are some of the deadliest critical illnesses after heart diseases in the UAE. So, a lot of people assume by default that all kinds of tumours and cancers are covered under critical illness health insurance plans. Although, that is not completely true. Many types of cancers like liver cancer, pancreatic cancer, breast cancer and colorectal cancer are covered in basic critical illness covers. However, you must read the terms of the plan you choose and find out exactly what kinds of cancers it covers. If you have a family history of a certain type of cancer or are prone to have one due to environmental and living circumstances, choose a plan or add-on that covers it specifically.

7. People with pre-existing medical conditions can not buy a critical illness insurance plan.

This particular myth is not limited to critical illness covers. It also seems to be the case with generic health insurance plans. The fact is, no matter what kind of pre-existing conditions you have, you can always buy a health insurance plan – critical illness covers or the basic ones. All you need to do is inform your health insurance company about the condition at the time of buying the plan so that your claims are not denied later. However, you may indeed have to pay a little extra premium since you are an increased level of risk for the company to take on. Nevertheless, the covers are still available for you to buy.

8. There is no difference between critical illness covers and direct medical claims.

Critical illness cover claims and medical claims are indeed different. Direct medical claims are cashless claims that are used to cover costs like hospitalisation fees, daycare fees, etc. Critical illness covers are generally offered as a lump sum amount to the plan holder instead of a direct payment made to the hospital like in the case of medical claims. There can be a few exceptions depending on the individual terms of the company but most critical illness claims are equivalent to reimbursement claims with the addition of the lump-sum payment clause.

9. Critical illness insurance covers also include disabilities.

No critical insurance plan covers any kind of disability. Your critical illness cover will only provide a lump-sum amount in case you are diagnosed with a critical illness that requires medically necessary treatment. You can use the paid-up compensation amount in any way that you like whether it is to cover the loss of income due to a permanent disability. But know that the critical insurance plan will not cover any kind of permanent or temporary disabilities.

10. Critical illness insurance covers should only be bought in old age.

The search for the “right time to buy health insurance” seems to be never-ending while the answer is the same for each kind of health insurance including critical illness covers. Old age is not necessarily the right time to invest in a critical illness cover. Old age is indeed the prime factor in the development of many critical illnesses, like Alzheimer’s disease, but it is not the only one. If you are aware of your family history for a certain critical illness, work in a potentially dangerous area/occupation, or are exposed to harmful factors adding to the development of the disease, get the plan right away. The right time to buy a critical illness health insurance plan is when you are aware of the risk you are at and it seems to be potentially high.

Conclusion

Overly expensive, a worry to take on in old age, or being an omnipotent coverage are just some of the many myths that surround critical illness covers. All these myths come together and make critical illness health insurance a rather rare appearance. But with the right information and facts in your pocket, you can ideally choose a plan that can come in handy if a disease happens to rise out of the blue. Several insurance companies in the country offer the best critical illness covers to ensure comprehensive coverage. If you choose smartly, you can get a plan that is not only easy on the pocket but also gives out the support you require.