Key Questions to Have in Mind While Buying Health Insurance
Updated On Nov 22, 2020
Purchasing a health insurance policy is not a difficult task. All you need to do is be careful of what you need and what is being offered. Many people, in a haste to buy health insurance, go ahead with purchasing any policy that seems suitable. Later on, they regret making a quick decision when the policy doesn’t fit their medical needs as well as budget. If you do not want to commit the same mistake, be prepared to ask questions to your health insurance company. Don’t know what to start with? Check this list right away!
6 Important Questions to Have in Mind While Buying Health Insurance
Below mentioned are some of the questions asking which will help you get a clear idea of the health insurance policy being recommended to you:
1. What Type of Health Insurance Policy Is It? - It is better to have a clear understanding of the policy type from the very beginning. Do remember to ask your health insurance company the type, whether fixed benefit, indemnity, or critical illness insurance? Before making a final choice, it would be important to go through the details of each and compare them with your specific medical requirements.
2. What Is the Policy Coverage? - It is very important to ask in detail about the policy inclusions or the coverage. In general, your policy coverage will include inpatient hospitalization, pre and post hospitalization charges, organ donor expenses, emergency ambulance expenses, and others. Make sure you read the policy wordings carefully to avoid last-minute confusion.
3. What the Policy Does Not Cover? - As important as it is to focus on plan inclusions, emphasizing plan exclusions is also a must. Make sure you ask about policy exclusions without fail so that you have a clear understanding of what your policy will not cover and what it will cover after a certain waiting period.
4. Who Does the Policy Provide Coverage to? - Another significant question to keep in mind is who all in your family will be covered under the policy. Please note that some policies cover parents-in-law, while some do not. There are also policies that provide cover for siblings, grandparents, and other relationships. Being clear of the members covered would be better for future purposes at the time of claim.
5. What Is the Policy Premium? - One of the most vital things to know about the policy is its premium. Your policy premium will help you keep your plan active. Make sure you ask about the premium amount as well as the availability of premium payment installment options such as quarterly, half-yearly, annual, etc. Note that based on the plan chosen and the amount of cover needed, the premium cost will vary.
6. What Is the Process For Filing a Claim? - Medical emergencies can happen irrespective of time. Being aware of the claim intimation process will help you prepare for the same without being confused or tense. Do ask your health insurance company about the claim process, documents required, availability of the cashless facility and more to simplify things.
At Last
It is not every day that you will buy health insurance. Since buying a health insurance policy is a significant decision, it is better to be clear right from the start.
Make it a point to ask the right questions so that when the time comes, you are not looking for answers anymore.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
