How to Ensure your Health Insurance Plan is Right for You
Just buying health insurance plans isn’t enough, if you want sensible health cover you need to invest in an adequate health insurance. There are a lot of things that one need to consider when he or she wants to take out a new health insurance policy. It starts with knowing which kind of insurance is right for you, if you need to invest in personal accident insurance or go for a family health insurance plan. Here are some tips that should help you in making the right decision.
1. Decide the amount carefully: Give it a lot of thought before putting your money in it. It’s easy to get carried away with low premiums and attractive packages, but inadequate insurance amounts can really screw you over in the time of need. So make an informed decision by evaluating the proper costs of health care in and around your city before buying your health insurance.
2. Cashless health cover is important: When there is a health related emergency in your family, you may or may not have time to run to the bank for the cash required during hospitalization. You may also run out of cash required for treatment. It’s during these instances that a cashless health cover comes in handy and buying such cover is always a good idea.
3. Age criteria is crucial: Health insurance plans often have clauses that allow easy renewal for the insurer when they are young, but the same renewals aren’t extended to them in their old age. Read carefully through the clauses of your insurance to make sure that it allows you renewal even in your old age.
4. Look into sub-limits: Sub-limits are the amounts that your insurance will pay for during hospitalization or for any other medical cost incurred by you. Most of the time it’s only a percentage of the expenses incurred by the insurer. You need to pay special attention while deciding these sub-limits in your family health insurance plans.
5. Maximise the benefit of your plan: Your health insurance provider will list down all the pre-existing disease and critical illnesses that will be covered in your health insurance. You need to choose the ones that you think you may need cover from. Make sure your plan accommodates most, if not all diseases and illnesses to ensure that you’re covered no matter what.
Get an early start: There is no right age to buy health insurance for yourself and your family. So start as early as you can and secure your future.