The latest updates on from the world of health and well-being.
A recent YouGov survey into life insurance trends in the UAE has found that although more people are doing all they can to protect their family’s future, there is still significant confusion between health and critical illness insurance. 40 per cent of the respondents claiming to have critical illness insurance in place said it was provided by their employer, an increase on the 38 per cent of respondents to last year’s survey who said the same. ‘It is worrying that the number of respondents claiming to have critical illness insurance, and indicating that it is provided by their employer, has increased in the last year,’ says Chris Divito, who is the managing director of Middle East and Africa at Friends Provident International. ‘I am concerned they may be confusing their mandatory health insurance with critical illness insurance, which is not something typically provided by an employer as part of a benefits package. These are two completely different types of insurance and these people may not be as well protected as they might think.’
Health insurance is designed to cover medical expenses only, and will cover these expenses as they arise. Health insurance does not usually provide for long-term recuperation, therapy or home-care services should they be required. On the other hand, the proceeds of critical illness insurance can be used in any way the policyholder chooses, depending on their particular circumstances.
Chris added: ‘People should consider critical illness insurance as a vital addition to their mandatory health insurance – especially if they have a family who would be impacted financially if they became seriously ill.’