Premium international health insurance introduced in to UAE market
Press release
Al Bawaba
A brand new international health insurance proposition has been launched in the UAE. Insured by AXA Gulf, Now Health International is an exciting new offering, built specifically for people who want to access healthcare anywhere in the world.
This top-end product, system, pricing and service infrastructure has been made available in the UAE through an exclusive arrangement between Now Health International and AXA Gulf. This means that there are now two international health insurance offerings under the AXA banner in the UAE. AXA Gulf will continue to offer its current award-winning proposition while at the same time, under a separate and stand-alone agreement, provide the Now Health product with their underwriting capability.
Ms. Sonja L. de Pattenden, Associate Business Development Director, AXA Insurance (Gulf), commented, “This product is one of the most benefit-rich in the international health insurance market today. It has generous levels of cover, high benefit limits and an extensive range of optional benefits – all designed specifically to suit a high net worth client base.”
Cover is available to both expat and local UAE customers, and at the heart of the proposition is an aim to provide unparalleled service with all turnaround times quoted up-front ensuring fast, accurate service.
Customers will have their own online secure portfolio area, which they can access 24 hours a day from anywhere in the world. They can view and download all their plan documents and track all their claims past and present. They can also add and delete members, introduce a medical provider and order replacement membership cards.
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Background Information
AXA Gulf
VAT or Value Added Tax is a form of consumption tax that is imposed on a transnational level. The GCC has agreed to apply a uniform standard rate of 5%. This standard rate will apply to almost all domestic transactions. UAE and KSA will implement VAT on 1 January 2018, and the other GCC countries are expected to implement in the following 12 months.
In limited instances VAT can also apply at 0% (zero-rate), or transactions can be exempt from VAT, or out of scope.
How it works is that taxable businesses are generally able to recover the VAT they incur on their purchases and expenses.
However, as individuals, we are the final point of the supply chain and therefore, will bear the cost as we are not able to recover the VAT.
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