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A health insurance policy is a basic need to meet unplanned medical emergencies. But choosing the right health cover never comes easy. There are many people who get puzzled by the various options available while buying a health insurance policy. In this age of inflation, getting a decent insurance cover is the only way not to become a victim of the skyrocketing healthcare costs. However, keeping a few tips handy makes sure you get an extensive cover at an optimum price. Read on to learn what to keep in mind before buying a health insurance plan.
TIPS FOR BUYING HEALTH INSURANCE POLICY
- Choosing the right health insurance agent or broker is the first and most important step in buying a standard health insurance.
- You need to have thorough knowledge about various products available in the market.
- Compare the features as well as the price before buying. One policy can cost more than three times the other.
- Comparing the policies has now become very simple as it can easily be done online.
- The terms and conditions of the policy should also be compared before buying.
- Be honest and accurate in your declarations on the form this will enable you to receive a payment when you have a genuine claim.
- Don’t only adopt a policy with a cashless tie up with a hospital nearby. Rather look for a policy that fulfils your requirements adequately.
- Another important factor to be considered is the number of exclusions in this policy
- Cover in the policy should suit your family’s requirement. While you would be requiring cover for expenses related to maternity, your parents would be keen in getting a cover for preexisting disease as quickly as possible.
- Care should be taken that the policy is flexible enough that a person has the right and can switch over to any other suitable product offered by the insurer at the time of renewal.
- The maximum permissible age limits offered by the insurance company should also be known. The chance of falling sick at an older age is high. Hence it is advisable you cover yourself with a comprehensive policy at an early age.
- The sum insured must be fixed on the basis of the past medical history and the area where you reside.
Finally make sure you have gone through all the terms and conditions of the policy you are about to cover yourself with or else it will backfire at you with unpleasant surprises.