Renew health insurance

1. Renew your health insurance policy: When the time comes to renew health insurance, many people wonder if renewing the policy is necessary, especially when neither they nor their family members had a need to go for treatment during the policy tenure. If you, a resident of the UAE, also have such thoughts, kindly bear in mind the following. Health insurance in UAE is an investment that provides you with benefits in the long run. You may not know when you may need it or whether you will need it at all!! Following reasons generally make you confused about the renewal of your health insurance. 1. According to you, there is no value in “spending” on health insurance. 2. You may have had an earlier experience of your claim getting rejected due to restrictions such as waiting periods or pre-existing ailments. 3. You think that by doing a little more research, you can find better plans than what you have now. Let us assume that due to any of the above reasons, you are not renewing your health insurance or you want to postpone the task to a future date. As this is not a high-priority task for you so chances of you forgetting about this are high. But have you considered? One day you may find that you and some of your family members have aged and have poorer health. If you decide to buy health insurance at that age, the premium will be much higher. There may also be unpleasant exclusions in the plan. What are the implications in such a scenario? Your waiting periods will begin from the time you take a policy. Any ailments that may have affected you or any of your family members during the interregnum will be construed as pre-existing ailments. Insurance companies may ask for a higher premium. Even if you or your family members have become overweight, obese or underweight, the insurance company will resort to the tactic of loading additionally on your premium. You may continue to be healthy and may think that you do not need health insurance now. But remember, your family members may not be as healthy as you are. Further, the present-day lifestyle and stress may take a toll on your health anytime. You may think that the cover offered by your employer is enough. But group policies may not cover all your health risks and those of your family members.

2. Expert Suggestion: The small premium you pay now will cover the expenses of the treatment for an ailment that may affect you when you grow old. Experts say that it is wrong to wait for ailments to happen before buying health insurance. It is because of the above reasons, you are advised to jettison the thoughts that cloud your mind at the time of renewal of your health insurance and take up the task immediately.