Your perspective can easily get blurred with numerous insurance providers in the market. You must choose to ask the following questions to a health insurance broker before acquiring a medical health insurance.
• Basic Health Coverage: With the multiple health insurance coverage, it is important to know the limit of your basic coverage. Outpatient expenses, accident, ambulance charges, surgery and maternity care are some of the essentials that a basic plan comprises of.
• Insurance Benefits: It is important to compare benefits of two or more insurance providers with the same premium amount to balance your risk, cost and needs. You must also ask for insurance riders such as surgical benefits, critical illness benefits that you can combine with the health insurance policy.
• Co Pay Limit in Treatment: Carrying the risks involved in hereditary conditions increase possibility of hospitalization and future treatments. So, it is better to look for company offering maximum percentage of expenses.
• Maximum Renewal Age: Health insurance policies are generally bought to avert the rising price of health care facilities in the old age. There is no use of buying it, if you terminate it well before when it is required the most.
• Upgrading the Insured Sum: Annual inflation of about 17% to 20% can leave your current sum obsolete in the years to come. Company offering the option to upgrade the insured sum at the later stages is a good option.
• Parameters for Change in Premium: The premium rates increase with increase of your age. Apart from the rate chart, you must be well informed of all other factors that affect the decrease or increase of the costs of your available services.
• Freedom to Choose a Health Care Provider: You must have the liberty to choose health care professionals as per your preferences.
• Claim Procedure and Claims Allowed Annually: All insurance companies work under the rules and regulations set by IRDA, however; there are certain specific norms. You can pick a reliable insurance provider when you are aware of the number of claims allowed annually as well as the procedure for the same.
• Cashless hospitalization: You must confirm the facility of cashless hospitalization and enquire about the network of hospitals that fall under the scheme of cashless hospitalization. You should do your homework before acquiring the insurance policy.
• Waiting Period and Exclusions: You buy specific health insurance coverage, but there are chances that your insurance provider excludes the disease or covers it only after a certain waiting period. You must enquire about the exclusions as well as the waiting period well in advance.
These are some of the aspects that you must carefully consider while choosing a health insurance broker. An online research is a good way to find you details of an insurance cover; moreover, you can also compare the quotes and features of the insurance policies before buying one.
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