Unpredictability is an essential part of a human life. Life throws many unpredictable surprises at us in so many different ways. There come times when we get caught wrong-footed by sudden events like fatal accidents, disabilities, financial setbacks, dangerous diseases, etc. Many of us are not ready in advance to deal with such sudden events in life. We always come to know about fatal accidents on the highways of the United Arab Emirates. Moreover, there are many unwelcomed diseases that hit us just at the wrong time. The concept of insurance, especially medical insurance, has always been a top priority in the western world where the governments make such arranges for their citizens at the national level. Such arrangements are not that common when it comes to the third world countries. However, there is no such issue when it comes to Dubai or Abu Dhabi as the local governments have made it compulsory for the local companies to arrange for health insurance for their employees. The local governments have recently made it compulsory for everyone to keep an active medical insurance.
The biggest advantage of having a health insurance is that you never have to worry about your financials in a medical emergency. A good health insurance pays the bulk of your medical expenses and you can take your time in ensuring a stable health recovery.
Let’s take a look at some of the aspects which demand having a health insurance policy.
There could be circumstances when you have no money to pay your medical bills. Such a situation makes you feel embarrassed and helpless as management of the hospital keeps pushing you to clear the bills. Just imagine if you have the medical insurance facility available then how easily you can avoid such an embarrassing situation. All the unexpected medical cost can easily be paid by insurance coverage without much hassle and the risks of falling short on your medical bills.
The medical insurance is not only beneficial for individuals but also helps to maintain the long-term reliable relationships with your employees by having corporate medical insurance coverage plan. That means now you can also facilitate your staff with insurance coverage in their difficult times. This will not only save your employees from troubles of paying bills but they also feel more connected with the company which stood by them in their hard times.
Always make sure that you have a good health insurance coverage while living in Dubai to save yourself and your employees from sudden medical financial hit.
The global financial downturn of 2007-08 affected most of the economies and the United Arab Emirates was no exception. However, since then the UAE has picked up remarkably and achieved a number of economic gains that has undone the financial effects of the worst global crisis since the 1930s’ Great Depression. The downturn specially affected the Dubai’s real estate and construction sectors while tourism and hospitality also took a hit as the purchasing power of the people deteriorated at a global scale. The days of the woes have long gone now. Dubai has transformed itself into a regional trade hub and there are many companies which are joining the bandwagon to expand their reach at a global level.
Many top international companies have set up their regional offices in Dubai and have witnessed a positive impact on their international business repute. This is a clear indication of a renewed trust and confidence of foreign investors in Dubai’s economic fundamentals. Moreover, the local rulers have made it simple enough for the foreign companies to make their presence felt in Dubai and other Emirates. This renewed international trust has given local rulers the strength and the confidence to smoothly diversify the local economy. As we all know, Dubai has always been regarded as an economy which is totally reliant on the its oil reserves. However, the recent developments have allowed the local government to include sectors like tourism, real estate, education, construction, hospitality, healthcare into the mainstream economic channel.
With the expanded scope of economy, a huge number of foreign companies have thronged the UAE to be able to pounce on the opportunity to expand their international reach and tap the markets which were not accessible in the past. The World Expo 2020 is one of the leading business events in the world and Dubai as a host to this magnificent event has already made a huge statement by undergoing a massive change in its infrastructure. This extensive investment on infrastructure has made doing business in Dubai a luxury rather than a challenge. Dubai’s strategic location, coupled with business friendly government policies, stable government structure, and a diverse population, has made it the perfect place for international brands to market their goods and produces. The tax-free regime has further attracted the foreign business community and a good number of foreign businesses have set up their regional offices in over 20 free zones located across Dubai. These free zones are exempted from personal and corporate taxes while the foreign companies are allowed to repatriate their full capital and profits besides doing their business in the currency of their choice. A complete package, indeed!