Insurance giant Zurich has launched YourCare to address the various concerns and shortcomings in relation to existing medical cover.
Co-developed with existing Zurich customers and the wider market, the service is in response to customer feedback, reflecting what people actually want and need to protect their financial future.
It meets growing demand for “easy, affordable and adequate protection against serious health risks”.
Key features include:
- Instant cover – no medical underwriting is needed, and consumers benefit from smooth online purchase and policy access;
- A simple process – it only takes a few minutes to get cover online, with a choice of three plans for critical illnesses and either five- or 10-year term options for all plan types; and
- Affordable cover – AED1m (£210,000, $270,000, €230,000) cover is available starting from AED4 per day, including free children’s cancer cover and a lump-sum figure to cover hospital treatment or funeral expenses.
Walter Jopp, chief executive of Zurich Middle East, said: “This product addresses a gap in the market for customers in the UAE, especially millennials, who are concerned about the extent of their health insurance and are particularly anxious about how they would get treatment in the event of a serious illness such as cancer.”
“We are proud of the innovative approach we have taken: we started with customer insight and the shape of YourCare was directly driven by detailed discussions with our Z-One community.”
At the same time, Zurich has published its ‘2020 Customer Benefits Paid’ report in the UAE.
It said revealed worrying trends about the affordability of treating serious illnesses.
- Some eight-in-10 people are concerned about getting adequate access to care if diagnosed with cancer;
- There are notable gaps between standard medical cover in most plans and actual costs to treat critical illnesses; and
- Consumers of generations X and Y are more inclined to take risks and consider their medical insurance to be sufficient – despite evidence of serious illnesses occurring earlier than expected.