Guide to Buying Individual Health Insurance

Posted by Muhamamd Waqar Asghar on March 12th, 2021

Predicting life is next to impossible. Hence, it would help if you kept yourself well-prepared for the worst. With the number of diseases on the rise, no one can stay immune to health conditions. Due to the cost of healthcare services, bad health can cost heavy on your pocket. Hence, it would help if you bought health insurance.

Here is your guide to buying individual health insurance

Determine your requirements before buying health insurance

Start looking for an insurance policy, and you will be flooded with options. There are insurance plans for senior citizens, young families, couples, students, cancer patients, cardiac patients, diabetics, and more.

It is easy to get confused. Hence, identify your priority and buy insurance that satiates your needs.

Seek a cashless hospitalization network

With cashless services, you can get treatment without paying the bills. Your insurance company will settle the bills with the hospital. While you can find an insurance company that is a part of cashless service, only a few hospitals entertain it. Find a hospital that is a part of the cashless network.

Determine the coverage offered

Make sure you go through the fine print to check the exact coverage offered. Your insurance coverage should offer you in-patient hospitalization coverage, coverage for day-care treatment, i.e., procedures that complete in less than 24-hours at any hospital, pre-and post-hospitalization expense coverage, room rent allowance, and sub-limits of the treatment.

Your policy must offer these coverages.

The waiting periodand exclusions

It would help if you took note of the waiting period, co-payment, and exclusion clause before taking a health insurancepolicy. Look for policies that do not have a long waiting period.

Plus, take note of the medical conditions and expenses that are not included in the clause.

Once you are aware of these things, select a suitable plan.

The bottom line

With so many insurance plans at your disposal, making the right decision is very difficult. But, if you consider the points mentioned here, you will get the right health insurancepolicy for yourself.

So, go through this guide and make a sound decision.

About the Author:

Mr. Muhammad WaqarAsghar, Founder & CEO of Mawazna.com started re-imagining the offering of insurance products through a comprehensive digital channel in Pakistan. The insurance industry was mostly a brick & mortar business at that time being sold offline mainly through the insurance agents.The team along with its Founder imagined a platform where consumers could find, search fully transparent and impartial insurance product information, and having an end-to-end digital avenue to conduct research and compare insurance products online so they can find the best products and price matching with their needs and then buy online.