6 Handy Tips to Buy an Appropriate Medical Health Insurance Policy
Posted by raghavendra on March 15th, 2021
Are you on the lookout for buying medical insurance plans anytime soon? These 6 helpful tips will enable you to choose the right policy.
Diseases that were critical, have become very common these days. This has given a reason to increase medical treatment costs, which may burn a big hole in your pocket. Therefore, having a medical insurance policy to secure yourself from the financial stress of costly medical procedures is a wise step. Nonetheless, how you pick the right plan is a big question. Fret not. Read on to know these 6 handy tips before you buy medical health insurance.
Check Premium and Coverage:
Compare and select proper medical insurance based on your future medical requirements. Among many plans,
● Check the premium amount that you have to pay to avail your preferred medical insurance policy
Check Waiting Period
Some medical insurance plans come with a waiting period before they kick in covering certain diseases. Hence, checking the waiting period under the policy is necessary to cover the disease, especially if you have been diagnosed with a pre-existing disease such as diabetes. This will allow you to choose the best health insurance that provides coverage for you and your family at times of need.
Check No. of Dependants Covered:
When you buy a medical health insurance policy, check the number of dependents covered by the policy. It is a very important factor because the number of dependants that can be covered in a policy is limited. So, make sure whether you need a plan that covers your family or need individual health insurance for certain senior members in your family.
Check Cashless Benefits:
Health insurance companies have network hospitals wherein you will get cashless treatment benefits.
Check No Claim Bonus
Looking for a no claim bonus clause is equally important as it adds an additional bonus amount to the policy sum assured amount. If you don’t raise any claim during a policy year, the insurer will add a bonus amount and you will be liable to receive it at the time of claim. This feature guarantees a handsome amount of income to you and assists you in times of emergency.
Check The Fine Print:
Many policy buyers tend to overlook the importance of the terms and conditions of medical health insurance plans. They ignore reading the policy wording. In general, we only understand its importance at the time of raising a claim. And we realize that the claim might be disapproved due to a clause that we did not pay attention to. To avoid policy rejection, reading the fine print is very important before you zero on medical health insurance.
The Final Wording
With an increasing level of life issues and tight schedules, buying medical insurance plans is more of a need than a desire. It is, therefore, best to compare health insurance and pick one that meets your health needs.
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About the Authorraghavendra
Joined: February 22nd, 2021
Articles Posted: 8
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