Whether to have a detailed medical insurance or a cashless treatment policy needs serious thinking, irrespective of whether one is frequently sick or not.
With the world, including Oman, in the grip of a pandemic that can affect anyone, anytime, the need for insurance cover is important as hospital bills can be beyond reach for both individuals and their employers.
Speaking to the Observer, a senior executive of leading insurance firm, said, “Insurance policies take some time to get activated after the applicant’s documents are vetted. We have clients or potential clients coming to us when their near ones are admitted to hospital. Things do not work that way. Insurance is a safety net, and not that someone must fall sick to make use of it. It is always good to have a cover that can be used anytime, anywhere.”
Here in Oman, medical expenses can burden both the employers and employees if they are not insured enough. “Covid has taught that one can get hospitalised anytime and need not have a history of illness for that. So, it is good to have a health security net.”
Insurance is a safety net, and not that someone must fall sick to make use of it. It is always good to have a cover that can be used anytime, anywhere
Executive
Insurance firm
Oman’s mandatory universal health insurance for private sector employees, domestic workers and visitors to the Sultanate is expected to be launched this year.
The system aims to provide affordable health insurance to private sector employees and domestic workers, as well as visitors to Oman and will start with the electronic Dhamani system for mandatory health insurance. It hopes to guarantee that costs do not leave too much of a dent in the wallet of those who find healthcare expensive.
According to industry experts, it is important to opt for the right health insurance policy that will meet the requirements of emergencies.
According to sources in the industry, the client should understand the requirement while selecting the health insurance policy as it will help them to take maximum advantage.
The clients should also compare with multiple insurance companies or agents to find which policies suit them the most.
In terms of life insurance, age is one of the significant factors that determine the premium. The policies are less expensive at the age of 30 than bought at the age of 50, as people are more prone to get impacted by diseases at their later age.
Health insurance policies have specific terms and conditions that will inform you about the covered and excluded things under the policy. It is always better to check all the terms and conditions of the policy before buying it.
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