Health Insurance
Sep 4th 2007, 11:53 am
#31
Forum Regular
Joined: Apr 2007
Posts: 58
Re: Health Insurance
I do not think that the FSA would be comfortable with anyone working for two companies, one UK based and being regulated by the FSA fine, but also working for another one based abroad, being unregulated and offering limited advice from a limited range of products as you state then the mind boggles. The fact that you state that you effectively change hats at any time with your clients then the compliance implications of this makes the mind boggle. I do not think that your professional indemnity insurers based in the UK would be comfortable with this scenario either let alone the FSA.
The suggestion that you can contact your UK clients when you are abroad is fine as you are effectively UK regulated and technology today allows this, but what if your UAE clients are in the UK do you have contact then ?
This is not a personal pop at you but last year but the last regulatory visit we had was more like a name names of advisors who are based abroad ( some of whom had escaped the grips of the PIA and FSA here in the UK), I used to do alot of travelling abroad but stopped doing this due to the problems re compliance issues and the fact that the regulator was very unhappy about such trips abroad.
As a final note then any form of savings should be undertaken on a single premium basis. Never, never get involved with any form of savings plans albeit for a short term such as three or 5 years, the charges on even these plans are too high thus effecting potential returns.
The suggestion that you can contact your UK clients when you are abroad is fine as you are effectively UK regulated and technology today allows this, but what if your UAE clients are in the UK do you have contact then ?
This is not a personal pop at you but last year but the last regulatory visit we had was more like a name names of advisors who are based abroad ( some of whom had escaped the grips of the PIA and FSA here in the UK), I used to do alot of travelling abroad but stopped doing this due to the problems re compliance issues and the fact that the regulator was very unhappy about such trips abroad.
As a final note then any form of savings should be undertaken on a single premium basis. Never, never get involved with any form of savings plans albeit for a short term such as three or 5 years, the charges on even these plans are too high thus effecting potential returns.
Sep 4th 2007, 12:22 pm
#32
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: Health Insurance
*sigh*
The FSA is fully aware of my personal situation and have confirmed that they are happy with it. It is complicated, but I am fully compliant. What you may 'think' is not relevant here.
The FSA is fully aware of my personal situation and have confirmed that they are happy with it. It is complicated, but I am fully compliant. What you may 'think' is not relevant here.
Sep 25th 2007, 10:03 am
#33
Just Joined
Joined: Sep 2007
Posts: 1
Re: Health Insurance
u can log on to www.doctor-dubai.com and u can get a lot of info on insurance companies especially which companies are accepted by which hospitals clinics or doctors. it is a very good and detailed search engine not only for finding insurance companies but to find doctors by speciality language spoken, nationality.location etc
Sep 25th 2007, 12:07 pm
#34
Forum Regular
Joined: Sep 2007
Posts: 42
Re: Health Insurance
I do not think that the FSA would be comfortable with anyone working for two companies, one UK based and being regulated by the FSA fine, but also working for another one based abroad, being unregulated and offering limited advice from a limited range of products as you state then the mind boggles. The fact that you state that you effectively change hats at any time with your clients then the compliance implications of this makes the mind boggle. I do not think that your professional indemnity insurers based in the UK would be comfortable with this scenario either let alone the FSA.
The suggestion that you can contact your UK clients when you are abroad is fine as you are effectively UK regulated and technology today allows this, but what if your UAE clients are in the UK do you have contact then ?
This is not a personal pop at you but last year but the last regulatory visit we had was more like a name names of advisors who are based abroad ( some of whom had escaped the grips of the PIA and FSA here in the UK), I used to do alot of travelling abroad but stopped doing this due to the problems re compliance issues and the fact that the regulator was very unhappy about such trips abroad.
As a final note then any form of savings should be undertaken on a single premium basis. Never, never get involved with any form of savings plans albeit for a short term such as three or 5 years, the charges on even these plans are too high thus effecting potential returns.
The suggestion that you can contact your UK clients when you are abroad is fine as you are effectively UK regulated and technology today allows this, but what if your UAE clients are in the UK do you have contact then ?
This is not a personal pop at you but last year but the last regulatory visit we had was more like a name names of advisors who are based abroad ( some of whom had escaped the grips of the PIA and FSA here in the UK), I used to do alot of travelling abroad but stopped doing this due to the problems re compliance issues and the fact that the regulator was very unhappy about such trips abroad.
As a final note then any form of savings should be undertaken on a single premium basis. Never, never get involved with any form of savings plans albeit for a short term such as three or 5 years, the charges on even these plans are too high thus effecting potential returns.
Expatadvisor are you a retired IFA then ?
Sep 26th 2007, 4:37 am
#35
Banned
Joined: Aug 2007
Location: Kuwait - Sringboard to Djibouti
Posts: 305
Re: Health Insurance
I think that this thread is commercial and breaking the rules and to me is blatant advertising of IFA services. Sorry if it is not but it seems that way to me. I don't condone the hostile response either.
For my part I suggest that you don't get medical insurance - just do without it - take the risk if you are healthy. This is not an order - it is just a suggestion. A perfectly logical risk management solution where the risk resides with you rather than the risk with the insurance co and the cost of insurance with you.
If you need something done then go to India - the case of the 5000 Dh 2 minute op that someone mentioned is exactly the case in point - it would have been much cheaper to take a return trip to India and have it done there.
You can also get treated at the cheaper hospitals - where do you think the maids go, the taxi drivers and so on. Why is it that in the UK you are content to be treated by an Indian doctor but is ME need to see a white one? (Of course I don't mean everyone but there are people you know who deride the lower cost services and hardly any of those individuals are members of the BMA professional standards committee).
In Kuwait the medical service is free for all residents. The Brits go abroad and the Lebanese, Indians and so on find it perfectly acceptable. I've just been to the hosp to see someones new baby and it was all fine - and it is a govt clinic.
For my part I suggest that you don't get medical insurance - just do without it - take the risk if you are healthy. This is not an order - it is just a suggestion. A perfectly logical risk management solution where the risk resides with you rather than the risk with the insurance co and the cost of insurance with you.
If you need something done then go to India - the case of the 5000 Dh 2 minute op that someone mentioned is exactly the case in point - it would have been much cheaper to take a return trip to India and have it done there.
You can also get treated at the cheaper hospitals - where do you think the maids go, the taxi drivers and so on. Why is it that in the UK you are content to be treated by an Indian doctor but is ME need to see a white one? (Of course I don't mean everyone but there are people you know who deride the lower cost services and hardly any of those individuals are members of the BMA professional standards committee).
In Kuwait the medical service is free for all residents. The Brits go abroad and the Lebanese, Indians and so on find it perfectly acceptable. I've just been to the hosp to see someones new baby and it was all fine - and it is a govt clinic.
Sep 26th 2007, 8:23 am
#36
Forum Regular
Joined: Sep 2007
Posts: 42
Re: Health Insurance
I think that this thread is commercial and breaking the rules and to me is blatant advertising of IFA services. Sorry if it is not but it seems that way to me. I don't condone the hostile response either.
For my part I suggest that you don't get medical insurance - just do without it - take the risk if you are healthy. This is not an order - it is just a suggestion. A perfectly logical risk management solution where the risk resides with you rather than the risk with the insurance co and the cost of insurance with you.
If you need something done then go to India - the case of the 5000 Dh 2 minute op that someone mentioned is exactly the case in point - it would have been much cheaper to take a return trip to India and have it done there.
You can also get treated at the cheaper hospitals - where do you think the maids go, the taxi drivers and so on. Why is it that in the UK you are content to be treated by an Indian doctor but is ME need to see a white one? (Of course I don't mean everyone but there are people you know who deride the lower cost services and hardly any of those individuals are members of the BMA professional standards committee).
In Kuwait the medical service is free for all residents. The Brits go abroad and the Lebanese, Indians and so on find it perfectly acceptable. I've just been to the hosp to see someones new baby and it was all fine - and it is a govt clinic.
For my part I suggest that you don't get medical insurance - just do without it - take the risk if you are healthy. This is not an order - it is just a suggestion. A perfectly logical risk management solution where the risk resides with you rather than the risk with the insurance co and the cost of insurance with you.
If you need something done then go to India - the case of the 5000 Dh 2 minute op that someone mentioned is exactly the case in point - it would have been much cheaper to take a return trip to India and have it done there.
You can also get treated at the cheaper hospitals - where do you think the maids go, the taxi drivers and so on. Why is it that in the UK you are content to be treated by an Indian doctor but is ME need to see a white one? (Of course I don't mean everyone but there are people you know who deride the lower cost services and hardly any of those individuals are members of the BMA professional standards committee).
In Kuwait the medical service is free for all residents. The Brits go abroad and the Lebanese, Indians and so on find it perfectly acceptable. I've just been to the hosp to see someones new baby and it was all fine - and it is a govt clinic.
Secondly, who do you think came back with a hostile response ?
Thirdly, I think the rest of your post is nothing but a generalisation / sweeping statement. People DO want Private Medical Care and all of the assurances which come with that. It also their right to want that and I'm sure it has NOTHING to do with the colour of the doctor's skin!
As for your recommendation about going to India, well that's up to you for a planned operation but what happens in an emergency, let's say after a car accident etc ???
Sep 26th 2007, 9:11 am
#37
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: Health Insurance
I think that this thread is commercial and breaking the rules and to me is blatant advertising of IFA services. Sorry if it is not but it seems that way to me. I don't condone the hostile response either.
For my part I suggest that you don't get medical insurance - just do without it - take the risk if you are healthy. This is not an order - it is just a suggestion. A perfectly logical risk management solution where the risk resides with you rather than the risk with the insurance co and the cost of insurance with you.
If you need something done then go to India - the case of the 5000 Dh 2 minute op that someone mentioned is exactly the case in point - it would have been much cheaper to take a return trip to India and have it done there.
You can also get treated at the cheaper hospitals - where do you think the maids go, the taxi drivers and so on. Why is it that in the UK you are content to be treated by an Indian doctor but is ME need to see a white one? (Of course I don't mean everyone but there are people you know who deride the lower cost services and hardly any of those individuals are members of the BMA professional standards committee).
In Kuwait the medical service is free for all residents. The Brits go abroad and the Lebanese, Indians and so on find it perfectly acceptable. I've just been to the hosp to see someones new baby and it was all fine - and it is a govt clinic.
For my part I suggest that you don't get medical insurance - just do without it - take the risk if you are healthy. This is not an order - it is just a suggestion. A perfectly logical risk management solution where the risk resides with you rather than the risk with the insurance co and the cost of insurance with you.
If you need something done then go to India - the case of the 5000 Dh 2 minute op that someone mentioned is exactly the case in point - it would have been much cheaper to take a return trip to India and have it done there.
You can also get treated at the cheaper hospitals - where do you think the maids go, the taxi drivers and so on. Why is it that in the UK you are content to be treated by an Indian doctor but is ME need to see a white one? (Of course I don't mean everyone but there are people you know who deride the lower cost services and hardly any of those individuals are members of the BMA professional standards committee).
In Kuwait the medical service is free for all residents. The Brits go abroad and the Lebanese, Indians and so on find it perfectly acceptable. I've just been to the hosp to see someones new baby and it was all fine - and it is a govt clinic.
I have given loads of free advice to numerous people over the past year.
And as for your 'advice' for people not to bother taking out medical cover - that is dangerous, irresponsible and a completely unqualified suggestion. Clearly you know very little about the cost of treatment, especially in the case of emergencies.
Sep 26th 2007, 9:14 am
#38
BE Forum Addict
Joined: Jul 2007
Location: dubai
Posts: 2,674
Re: Health Insurance
Oh what rubbish!
I have given loads of free advice to numerous people over the past year.
And as for your 'advice' for people not to bother taking out medical cover - that is dangerous, irresponsible and a completely unqualified suggestion. Clearly you know very little about the cost of treatment, especially in the case of emergencies.
I have given loads of free advice to numerous people over the past year.
And as for your 'advice' for people not to bother taking out medical cover - that is dangerous, irresponsible and a completely unqualified suggestion. Clearly you know very little about the cost of treatment, especially in the case of emergencies.
Emergency Operation would have cost us AED 147,000.00 so glad we had health insurance !!!
Sep 26th 2007, 11:26 am
#39
Forum Regular
Joined: Apr 2007
Posts: 58
Re: Health Insurance
Yes I am a UK based FSA registered Independent Financial advisor, who has been dealing with expats for over 20 years. Totally fee based not commission based. I do not advertise my company and no longer take on new clients except via existing clients.
I totally support the comments made by meow and blokeindubai in respect of the need for health insurance, it is irresponsible and stupid to think that if you are healthy just take the risk of being without it!!, or else that you can just nip to India for a cheap operation. It never ceases to amaze me the attitude of some people. like the gentleman, a friend of client, I am dealing with at the moment who has no life insurance to over his existng mortgage even though he has a spouse and dependents as nothing is going to happen to him !!, must be immortal I guess !!
I totally support the comments made by meow and blokeindubai in respect of the need for health insurance, it is irresponsible and stupid to think that if you are healthy just take the risk of being without it!!, or else that you can just nip to India for a cheap operation. It never ceases to amaze me the attitude of some people. like the gentleman, a friend of client, I am dealing with at the moment who has no life insurance to over his existng mortgage even though he has a spouse and dependents as nothing is going to happen to him !!, must be immortal I guess !!
Sep 26th 2007, 3:00 pm
#40
Banned
Joined: Aug 2007
Location: Kuwait - Sringboard to Djibouti
Posts: 305
Re: Health Insurance
Firstly, I totally disagree with your opening point. This is not an advert for anything or anyone... It seems to me that someone who works in this specific field of enquiry has taken time out of their work-time and responded with genuine FREE advice.. What's wrong with that ? Surely that is better than trivial gossip or advice from self-proclaimed advisors ?
Secondly, who do you think came back with a hostile response ?
Thirdly, I think the rest of your post is nothing but a generalisation / sweeping statement. People DO want Private Medical Care and all of the assurances which come with that. It also their right to want that and I'm sure it has NOTHING to do with the colour of the doctor's skin!
As for your recommendation about going to India, well that's up to you for a planned operation but what happens in an emergency, let's say after a car accident etc ???
Secondly, who do you think came back with a hostile response ?
Thirdly, I think the rest of your post is nothing but a generalisation / sweeping statement. People DO want Private Medical Care and all of the assurances which come with that. It also their right to want that and I'm sure it has NOTHING to do with the colour of the doctor's skin!
As for your recommendation about going to India, well that's up to you for a planned operation but what happens in an emergency, let's say after a car accident etc ???
Sep 26th 2007, 3:08 pm
#41
Banned
Joined: Aug 2007
Location: Kuwait - Sringboard to Djibouti
Posts: 305
Re: Health Insurance
Knowing the costs of emergency treatment is irrelavent to this - it is knowing the cost of premium, the effectiveness in engaging the insurance and what is covered that is the issue.
Sep 27th 2007, 5:27 am
#42
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: Health Insurance
In Dubai & other parts of the Middle East people are not automatically covered for the all the things you mentioned. Besides if you have a car accident, YOU may be covered for emergency treatment, but what about say, long term rehabilitation? What happens should you have heart disease, or cancer?
Plans will also frequently cover such costs as emergency evatuation & repatriation (incl of mortal remains), physiotherapy, psychiatric treatment, complementary medicine, wellness checks, home nursing, compassionate emergency trips, cash benefits for being in hospital, legal expenses, maternity cover.
As with most insurances - including car insurance - you have to hope that it is a total waste of time, but it may literally be a lifesaver. As they say, you pays your money you takes your choices.
For your sake, I hope you are never seriously ill....
Plans will also frequently cover such costs as emergency evatuation & repatriation (incl of mortal remains), physiotherapy, psychiatric treatment, complementary medicine, wellness checks, home nursing, compassionate emergency trips, cash benefits for being in hospital, legal expenses, maternity cover.
As with most insurances - including car insurance - you have to hope that it is a total waste of time, but it may literally be a lifesaver. As they say, you pays your money you takes your choices.
For your sake, I hope you are never seriously ill....
Sep 27th 2007, 10:55 am
#43
Forum Regular
Joined: Sep 2007
Posts: 42
Re: Health Insurance
Take the case of a car accident - you are covered. Take the case of an indistrial accident - you are covered, workplace accident - covered. Mugging - probably not covered. Getting hurt when drunk - not covered - but that is down to youYes the treatment costs may be high but not all are down to the wounded. Not all emergencies are only subject to medical insurance. As I say - you do it your way I do it mine.
Knowing the costs of emergency treatment is irrelavent to this - it is knowing the cost of premium, the effectiveness in engaging the insurance and what is covered that is the issue.
Knowing the costs of emergency treatment is irrelavent to this - it is knowing the cost of premium, the effectiveness in engaging the insurance and what is covered that is the issue.
"the effectiveness in engaging the insurance" ??? Erm, one single cancer scare, one slipped disc or a simple household accident and you could face bills for 5k plus ?? It seems to me that you're gambling with your health.. good luck to you !
Sep 27th 2007, 5:47 pm
#44
Banned
Joined: Aug 2007
Location: Kuwait - Sringboard to Djibouti
Posts: 305
Re: Health Insurance
Given you're working in the Middle East, it seems strange that you're worried about an annual premium of approx 1k sterling... Obviously you're single ie. without a family as you're willing to risk so much for so little.....
"the effectiveness in engaging the insurance" ??? Erm, one single cancer scare, one slipped disc or a simple household accident and you could face bills for 5k plus ?? It seems to me that you're gambling with your health.. good luck to you !
"the effectiveness in engaging the insurance" ??? Erm, one single cancer scare, one slipped disc or a simple household accident and you could face bills for 5k plus ?? It seems to me that you're gambling with your health.. good luck to you !
