Living in Dubai after retirement age: Health insurance, working after retirement and family sponsorship explained

Dubai: Planning to retire in Dubai? Whether you have spent years working in the UAE or are looking to move here for the next chapter of your life, Dubai’s five-year retirement visa offers eligible retirees the opportunity to make the city their long-term home. However, when planning for retirement, there are also a few other practical considerations that you need to plan for ahead of time. Here are some of the basic questions related to retirement answered. Is health insurance mandatory? Yes. A valid UAE health insurance is required for Dubai’s five-year retirement visa. If you were previously working in the UAE's private sector, your health insurance would have been covered by your employer, as per the UAE’s Labour Law. However, once you retire, that is a requirement you will need to arrange for on your own. Dr Abdul Wasay Mohammed, Senior Manager – Medical Claims at Watania Takaful Insurance Company, advised residents to start early and begin comparing policies before their retirement begins. "You should begin before your retirement comes into effect, because the process may take time. Issuing a health insurance is not immediate, like other forms of insurance that may be done at a click of a button. This requires customisation for each individual and multiple documents may be needed and you may also need to go for medical investigations, before you finally apply for it,” he said. Dr Abdul Wasay Mohammed Pre-existing conditions When you do apply for the insurance, you would be asked to complete a Medical Assessment Form, or MAF, which asks a set of 15-20 questions related to your medical history, including any pre-existing conditions. While filling out the form, all pre-existing conditions should be declared accurately, as the information is used by the insurance company to assess the application, determine the level of cover available and calculate the premium. “Also, if you have pre-existing conditions, you may need a report from your treating doctor who can provide more information on the medications you need, any procedures that might be required in the coming year,” he said. How much does health insurance for a retiree cost? The cost can vary significantly depending on the applicant’s age, medical history, required hospital network, benefits and geographical area of cover. Annual premiums found across the market may range from: Ages 60 to 65: approximately AED8,000 to AED15,000 Ages 65 to 70: approximately AED12,000 to AED20,000 Above 70: approximately AED18,000 to AED35,000 or more It is important to note that this is an estimated range of how much your policy may cost and the final premium may differ depending on your specific case. The costs above are for a one-year health insurance policy. Can I still work if I am on a retirement visa? If you are also looking for a steady source of income post-retirement, there are a few options you can consider. According to Ahmed El Naggar, Founder & Managing Partner, Elnaggar & Partners, retirees have the option of taking on roles as consultants, if they are experts in their field. However, working a full-time job may not be feasible. "An employment permit requires the approval from the Ministry of Human Resources and Emiratisation (MOHRE) and is issued year by year, as per the Ministry's approval," he said. "However, as a consultant, a retired person can also establish his or her own company and offer consulting services, that's not a problem. They can continue being on a retirement visa, but they would need a freelance licence or a service licence, depending on the consulting services they offer, to be able to do the work," he added. Ahmed Elnaggar Can I sponsor my family on the retirement visa? According to Elnaggar, whether you are on a five-year retirement visa or 10-year Golden Visa, you can sponsor the following family members: Spouse Son up to the age of 25 years Daughter up to any age, as long as she is unmarried. "You may also be able to sponsor your father and mother, if you can offer proof that they are dependent on you. So, while theoretically, parents are not included as 'dependents' for issuing a family visa, you can visit the immigration department and if you are able to prove that your parents are dependent on you, the immigration department will be able to grant the 'dependent' status to a retiree's parents as well," Elnaggar said. To prove dependency, you would need a formal Consular Affidavit or Dependency Certificate, which can be issued by your home country’s consulate in Dubai.