UAE residents can now lock in their health insurance premiums for up to five years under a new offering from Policybazaar.ae, helping eligible customers avoid annual price increases linked to inflation and age-related premium hikes.
The new Health Insurance Premium Lock add-on allows customers to freeze the premium they pay when purchasing an eligible policy and continue paying the same amount throughout the lock period.
The feature is currently available on selected health insurance plans for residents of Dubai and the Northern Emirates.
How the UAE Health Insurance Premium Lock Works
Under the new add-on, eligible policyholders can secure their premium rate at the time of purchase and keep that rate unchanged for up to five years.
According to Policybazaar.ae, the lock protects customers from premium increases caused by medical inflation as well as age-band pricing adjustments that often occur during annual renewals.
The add-on is available for an additional fee and can be selected during the checkout process when purchasing eligible health insurance plans through the platform.
Why Health Insurance Costs Increase in the UAE
Health insurance premiums in the UAE are often affected by rising healthcare costs and age-related pricing structures.
Policybazaar.ae said medical inflation typically ranges between 5 and 10 per cent annually. In addition, premiums can rise by 20 to 25 per cent when policyholders move into a higher age bracket.
The company added that many customers experience premium increases even when they have not made claims or reported pre-existing medical conditions.
Data from Policybazaar.ae showed that nearly 40 per cent of customers who faced renewal increases had not submitted a single claim and did not have pre-existing health conditions.
Who Can Apply for the Premium Lock?
The Health Insurance Premium Lock is available to selected customers who meet specific eligibility requirements.
Applicants must be adult policyholders aged up to 60 years and must not have declared any pre-existing medical conditions when applying.
The feature is currently offered exclusively through Policybazaar.ae and is available only on selected plans.
Policybazaar.ae Says the Goal Is Greater Cost Certainty
Neeraj Gupta, Chief Executive Officer of Policybazaar.ae, said the new feature was created in response to customer concerns about rising renewal costs.
He said many customers felt frustrated when their premiums increased despite maintaining good health and not making claims.
According to the company, the Premium Lock is designed to provide greater predictability and reduce uncertainty around long-term healthcare expenses.
What It Means for UAE Residents
The launch marks what Policybazaar.ae describes as the first health insurance premium lock of its kind in the UAE.
For residents planning their long-term finances, the feature could provide added stability by protecting against future premium increases during the lock period.
As healthcare costs continue to rise globally, the company says the initiative aims to give customers more confidence and transparency when managing their health insurance coverage.
