One of the most important criteria for a human being's happiness is sound health. Although eating healthy food, routine exercising and regular medical checkups are a must in everybody's life, the truth is we’ve become more susceptible to all types of illnesses.
Meeting this demand for expenses and affording quality medical care has become challenging for people from all strata of society. This is where health insurance can help you and address those challenges.
We have come up with 5 important questions which you need to ask before buying Health Insurance.
Is Health Insurance Suitable for You?
Figure out why you really need? How many people are there in your family who need health insurance? Consider the kind of illnesses that are present currently and what types you foresee in the future.
How Much Do You Have to Pay?
How much should you pay to buy an insurance plan for you alone or for your entire family? Every medical insurance requires you to pay a monthly premium which depends on the plan which can be calculated easily. There is something called “out-of-pocket” costs which is what you need to pay first in order to avail medical insurance. Some plans require you to bear the expenses first and later get it reimbursed. Check whether periodic check-ups and diagnostics are covered or need to be paid in extra.
How Much Do You Have to Pay?
Check what features the plans cover, like cashless hospitalization, routine examinations, treatment for pre-existing illnesses, waiting periods before claiming insurance, number of claims in a year and maximum years you can claim. Most importantly check if it provides security for older patients who have existing illnesses. Always make a note of what the insurance providers do not cover. Check if you can buy more than one policy from more than one company and most importantly, don’t forget to read through the terms and conditions carefully,
What Conveniences Does your Health Insurance Plan Offer?
For example, some questions you should perhaps ask are -
How easy is it to buy health insurance and renew it? Many agencies require certain documents to be furnished and medical tests to be taken. Check if the plan includes coverage for consulting your existing doctor. How easy is it to get help if you have an emergency? Do you have to call the doctor before getting hospitalised for an emergency? Consider the claim filing process offered. Check if the plan allows a change in hospitals if it's something that is important to you. Can you add new family members to your plan? How easy it is to cancel the policy mid-duration? What about cases of untimely demise where the plans can be transferred to relatives?
Answering these questions beforehand helps decide the best plan for you and your family.
How Credible Is the Health Insurance Company?
Check the financial stability of a health insurance company. Check customer reviews and peer feedback on how the company deals with its customers. Good and dependable customer care and easy and successful claim process are also something you can look for in a health insurance company.
We hope this guide will give you some insight into what to look for in health insurance and make you more informed as a customer. All in all, our suggestion would be to take your time to do your research and choose smartly.