Common Questions That Come Up While Buying Health Insurance
Majority of us tend to get the insurance that appears inexpensive, regardless of whether it provides adequate coverage. Also, humans have an odd tendency to follow the crowd; for example, if a neighbour has purchased a health insurance plan, we tend to view it favourably and buy it without a second thought.
Here is a list of ten questions you must ask your insurer to help you choose the best health insurance policy:
- What form of health insurance is it?
The first question you must ask your insurer is which form of insurance plan is optimal for your needs. There are three available types of health insurance: fixed benefit, medical, and critical illness. Examine the benefits of each plan carefully, and then select the one that best meets your needs.
- What does the insurance coverage cover?
Policy coverage or inclusions refers to the list of ailments that can be claimed under a health insurance policy and the number of people it covers. A health insurance policy or family health insurance plans may cover hospitalisation fees, pre- and post-hospitalization fees, ambulance services, laboratory tests, prescription medications, and organ donor fees. *
- What the insurance does not cover
Exclusions are conditions that an insurance policy will not cover. After a waiting time, certain insurance policies cover the treatment of specific disorders. The exclusions in the insurance may vary from insurer to insurer; therefore, it is equally vital to be aware of these limitations since this will assist you in choosing which coverage to purchase.
- Does your health insurance cover routine screenings?
Certain health conditions necessitate routine medical examinations. It would help if you inquired whether or not your plan covers routine checkups.
- What is the cost of the plan?
The health insurance plan‘s cost is the monthly premium or the amount you pay your insurer each month to maintain your health coverage. The cost can differ based on the type of plan you select and the level of coverage you desire. *
- How is the policy’s premium calculated?
Age is a significant factor in deciding the premium you pay for your health plan. The older you get, the more susceptible you are to sickness; thus, the cost of your premium will increase. Your past medical history also plays a factor in determining your health insurance rate. If you have a favourable medical history and are in good health, your premium will likely be lower. Many insurance providers now let you check your premium amount on a health insurance premium calculator too. *
- How much will you be required to pay for medical care?
The out-of-pocket expenses associated with health insurance include deductibles and coinsurance. This is the amount you will be responsible for paying out of pocket for medical care. Also, determine the percentage of costs your health plan will cover once the deductible has been met. *
- Will you be able to receive care from your preferred physician?
If you have a chosen doctor or hospital, check the list of network hospitals to determine whether or not you can utilise their services, as an out-of-network provider might be quite costly.
- What is the procedure for submitting a claim?
Because unexpected crises can strike anytime without warning, it is always advisable to be familiar with the claim filing procedure of your family health insurance plans. You must comprehend the claim process and the documentation required to initiate a claim. Insurers also provide cashless services that allow you to receive medical care without paying!
- What is the annual maximum number of claims that can be filed?
There is no limit on the number of claims per year so long as the total does not exceed the sum insured. It would be best to inquire about your insurer’s claim limit upfront.
Create a checklist of these questions, and use it to evaluate all accessible policy possibilities. You must also read the policy wordings thoroughly and attentively before signing the documents, regardless of your chosen plan.
* Standard T&C Apply
‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘
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