• RAKcare, a RAKBANK Health Insurance Policy

    RAKBANK Health Insurance

    Rakbank Health Insurance Sum Assured

    Sum Assured:

    Plans and sum assured for 7 and 32 critical illness

    Plan Sum Assured in AED
    Plan 1 25,000
    Plan 2 50,000
    Plan 3 100,000
    Plan 4 250,000
    Plan 5 500,000

    Plans and sum assured for 7 female cancer cover

    Plans Sum Assured in AED
    Plan1 25,000
    Plan 2 50,000
    Plan 3 100,000

    Introduction to RAKBANK Health Insurance in UAE

    UAE’s RAKBANK offers a stand-alone health insurance policy called RAKcare offered by Oman Insurance Company. It provides financial protection against a critical illness. It offers cover for over 32 critical illness and also offers 7 female cancer cover.

    Features and Benefits of RAKBANK Health Insurance

    • Offers a lump sum payment that is equal to sum insured if diagnosed with any of the critical illness that is covered by the policy.
    • Standard premiums that doesn’t fluctuate.
    • Offers three kind of cover plans.
    • No medical underwriting for sum insured up to AED 100,000.
    • Worldwide coverage.
    • The payments can be made monthly, quarterly, biannually or annually.
    • A simple medical questionnaire is required for sum insured of AED 250,000 and AED 500,000

    Eligibility Criteria for RAKBANK Health Insurance

    The eligibility criteria to avail RAKcare is listed below.

    • Age: Minimum- 18 years

      Maximum- 64 years

    • Maximum coverage age- 65 years
    • Children are not eligible for this plan

    RAKBANK Hospital Cash Benefit Policy - Cash Benefits for Hospitalised Patients

    The RAKBANK Hospital Cash Benefit Policy is designed to make the policyholder’s stay in a hospital more comfortable whilst offering cash benefits provided that the patient has been hospitalised for at least 24 hours because of maternity, accidents, or sickness. The policy can also be used to meet incidental expenses that include miscellaneous expenses such as ambulance charges, supplementary medicines, etc. that are usually not covered in conventional medical insurance policies offered by most companies.

    What does the policy cover?

    • Cash benefits to the extent of AED 8,000 for adults and up to AED 2,000 for children per day, not exceeding more than 60 days a year
    • Seven-day cover for hospitalisation because of maternity
    • Children are covered for both accidents and sickness
    • Discount on Family Cover – 10%
    • Making annual payments provides free coverage for one month
    • The policy can be purchased by using a RAKBANK credit card and the amount will be directly debited from your account
    • Payments can be made on an annual, half-yearly, quarterly or monthly basis
    • Easy enrolment process
    • Round-the-clock availability in the UAE as well as worldwide in case of emergencies
    • Payment of premiums with your RAKBANK credit card can provide cash back benefits
    • Flexible payment mediums

    There are four plans available under the Hospital Cash Benefit Policy. Plan 1 offers a cash benefit of AED 1, 000 for adults and AED 200 for children per day. Plan 2 offers AED 2,000 for adults and AED 400 for children per day. Plan 3 offers AED 4,000 for adults and AED 1,000 for children per day, and Plan 4 offers AED 8, 000 for adults and AED 2,000 for children per day. Monthly premiums for adult start from AED 90 and for children, the minimum monthly premium is AED 25.

    Eligibility Criteria for Hospital Cash Benefit Policy

    Customers who wish to take out a RAKBANK Hospital Cash Benefit Policy will have to meet the following eligibility criteria:

    • Must be a UAE resident
    • Must be at least 18 years in case of an adult policy
    • Must be younger than 64 years of age in case of an adult policy
    • 65 years is the maximum coverage age for adults
    • Children must be at least six months old to enrol
    • Children’s policy cannot be taken if the child is older than 18 years of age
    • Primary and unmarried dependents and full-time students who depend on the insured individual must not be older than 23 years of age

    Why choose RAKBANK health Insurance?

    RAKBANK’s RAKcare is the first of its kind to offer a different plan catering to the female cancer ailments. It offers cover for 7 types of female cancer in addition to cover for 32 critical illness. The customer has the option to choose from three different plans that suits their needs. One of the added advantages is that the plan can be purchased online with no hassles. One can also a family discount of 10% if they or their spouse residing in UAE are enrolled for RAKcare. One can also avail cashback when they pay premiums with their RAKBANK credit card.

    Other products offered by RAKBANK in UAE are:

    RAKBANK Credit Cards

    RAKBANK Car Loan

    RAKBANK Home Loan

    RAKBANK Fixed Deposit

    RAKBANK Car Insurance

    RAKBANK Home Insurance

    RAKBANK Travel Insurance

    RAKBANK Life Insurance

    Frequently Asked Questions - FAQs

    1. Which is the insurance house that offers RAKcare?
    2. Oman insurance house offers RAKcare.

    3. Will there be an additional cost for getting a second medical opinion?
    4. No, one can avail a second medical opinion free of cost.

    5. Is there any advantage if you make an annual payment on the premium?
    6. The insured can enjoy one month of free coverage if they make an annual payment on the premium.

    7. Are children eligible for the plan?
    8. No, children are not eligible for this plan.

    News about Health Insurance in the UAE

    • Insurance Coverage Now Available for Indian-based Families of Indian Expats in the UAE

      Health insurance policies can now be availed by Indian expatriates in the UAE to protect their families back in India. RAK Insurance and Aster DM Healthcare from Dubai have joined forces to provide policies that range between AED 225 and AED 3800 per year. Care and accidents are covered by the policies in around 5500 hospitals in India. The policyholder or primary member must a resident of the UAE and may add parents, children, in-laws and spouse who reside in India.

      The maximum age of family members must not exceed 70 years of age, and plan renewals are allowed until a member hits 75 years of age. The rise in premiums is dependent on the benefits provided by the policy and the age of the policyholders. However, it usually ranges between 10% and 30% per annum.

      24th February 2016

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