Simple Steps to buy a Health Insurance cover!
In times of hectic and fast paced lifestyles and erratic work hours, many of us are exposed to lots of health issues.In these times, quality healthcare treatment in affordable costs often seems an exaggeration. For something as simple as cold or fever, normal consultation charges make a dent in the pocket. As cost of treatment goes sky rocketing, health insurance comes to your rescue. It keeps you free of the tension of making huge payments to the hospital and you can provide your dear ones with an access to quality treatment and focus on their speedy recovery.
Here is a step by step guide that helps you in buying the perfect health insurance plan as per your needs:
Understand your needs
First thing first, you need to ascertain your need to buy health insurance. Given the uncertainty and rising healthcare costs being reasons enough, you need to know who will be covered under the policy you take. If you wish to cover your family together, you may opt for a family floater while if you are going for only covering yourself then an individual policy would suffice. For your parents, you can opt for Senior citizen policy with shorter waiting period for the pre-existing diseases to be covered
An exhaustive research:
Once you have ascertained who you wish to be covered under the health insurance policy, you then begin looking for the right kind of policy across the different options available under different companies. In this research your best guides are the internet, those who have purchased health insurance policies in tune with the needs that are same as yours, agents and brokers. Among all the options, a broker will be the best person to buyhealth insurancepolicy from because he has an in-depth knowledge about many health insurance companies and will guide you towards a policy that is right for you.
Compare and align
Make a chart and mention the various companies offering the plans best suited to your needs, write the policy features against each, and compare the coverage amounts. There may be differences, like while some companies may offer coverage of pre existing diseases after four years, others will offer after two years. Based on your needs, if it's for senior citizens, you may opt for the two year policy, but then again, you would have to check the other terms and conditions, exclusions and clauses before making a decision. The point is to do your own homework thoroughly.
Who to buy from?
Once you have zeroed in on the policy you wish to buy, question arises as to whom you buyhealth insurancefrom. Should it be directly from the company, the broker or the agent? Well, our take is that, among the three, the broker can be your best bet. The reason is that while the agents may be biased towards their respective companies, brokers can give you an unbiased opinion, explaining the positives and negatives and giving you exhaustive comparisons between the plans offered by different companies.
Read the fine print
Now, that you have decided what you need to buy and from whom, the time comes to actually purchase the policy by paying the premium. But before you do that make sure you have gone through the policy wordings carefully, including the fine print. This includes, the waiting period, information about the coverage of pre-existing diseases, information about the renewal ofhealth insurancepolicy, room rent limits, information about the reimbursement of pre and post hospitalization expenses, etc. To know more about Simple Steps to buy a Health Insurance cover!
Simple Steps to buy a Health Insurance cover!
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