5 Questions to Ask Your Insurance Agent Before Purchasing Health Insurance
Published On Nov 28, 2019, Updated On Dec 09, 2020
So, have you made your final decision to invest in one of the best health insurance policies?
Do you have a health insurance plan in your mind or are you feeling confused between a few options?
Whether you already have an option or are looking for a few to make the best possible choice from, make sure you do your analysis of medical requirements and other needs beforehand so that you don’t end up regretting your choice.
To ease the selection process and receive the best guidance, make sure you ask a few prominent questions to your health insurance agent in the first place.
5 Questions to Ask Your Health Insurance Agent
- Inclusions under the policy
Other than the premium, inclusions are also a significant feature that one should ask about to their insurance agent. Emphasising inclusions is a must so that one gets an idea about the coverage being offered. So, make sure you ask your insurance agent about the policy type to learn whether it covers hospitalisation, daily hospitalisation, or critical illnesses. Remember that the scope of coverage varied from one insurance company to the other as well as from one policy to the other. Before buying a health insurance, it is really important to know whether the coverage provided will be of use or not.
- Exclusions under the policy
Just like the inclusions, the list of exclusions also varies from a health insurance policy to another. It is important to note that all health insurance policies come with a specific list of exclusions that a potential customer should know about in advance. The reason an extensive knowledge about the exclusions under a policy is important is that it prevents one from getting surprised or disappointed at the time of emergency situation. Learn that there are certain claims that you cannot make during the initial months of buying the policy. There are also general exclusions and ones that are time-based. Being aware of what all your policy doesn’t cover and until when is of massive significance.
- Sub-limits under the policy
If new to the concept of sub-limits, know that they limit the expenses that one can claim. Sub-limits on a specific treatment mean that there is a limit on the amount that the policyholder can claim. Sub-limits are basically set on 2 expenses, the sum assured on hospital room rent or on a specific disease. However, there can be sub-limits on OPD, doctor’s fees, and other elements as well. First and foremost, it would be important to ask whether or not there is a sub-limit associated with the policy you like. If the policy doesn’t come with sub-limits, you won’t have any limitations. However, if there are sub-limits, it would be best to know in advance.
- Waiting period under the policy
Waiting period is the time limit that one has to wait for after which they can file a claim for all or some benefits of health insurance plan. Generally, the waiting period in health insurance policies is associated with pre-existing diseases (while some cover pre-existing diseases right away, others cover them after 3-4 years), medical expenses such as maternity coverage, arthritis, cataract & eye ailments, and stone in the gall bladder come with the waiting period. Note that expenses for these medical treatments might not be covered in the first one or two years of the policy. Overall, it is important for one to be aware of waiting periods so that they can be prepared to deal with medical expenses if they occur before the waiting period ends.
- Add-on covers under the policy
Multiple policies, whether new or old provide add-on covers. These add-on covers help tremendously in enhancing the range of benefits. Features such as Ayurvedic treatments, global treatment, maternity expenses, hospital daily cash, waiver on room rent, personal accident, and various others are covered under the concept of add-on, even though with a waiting period. It is important for you to know from your insurance provider whether or not the policy offers add-on covers so that you can make the most of them as per the need arises.
Now that you know what all questions to ask your insurance agent, make it a point to do so before you go ahead with the purchase of the policy. Don’t forget, detailed knowledge of inclusions, exclusions, sub-limits, waiting period, and add-on covers will help you massively in finalising the perfect health insurance plan for yourself and your dear ones.
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