6 Things to Keep in Mind before Buying a Health Insurance PolicyPosted by Insurance Inbox on May 15th, 2017 In today’s time of rising medical costs, a health insurance policy ensures that the one insured is not deprived of timely medical attention. But, to ensure that the health insurance policy pays off, one should keep the following 6 things in mind before buying it. 1. Disclose all the other health policies It is a bit natural for people to buy more than one insurance policy to ensure that the cost of ailment is covered. However, not declaring this fact can defeat the sole purpose of buying an insurance policy in the first place. Not doing so will lead to cancellation of all other policies that are brought for the same beneficiaries. Secondly, it is essential to declare any past medical conditions before finally buying the policy. 2. Get Acquainted with the Claim Process One of the major mistakes committed by buyers is not getting acquainted with the claim process. Many a times, it may so happen that the insurer takes a huge amount of time to issue the cheque of the amount borne by you. So, when buying a policy, ensure that the insurer offers a cashless settlement. In such cases, one would just need to show the card to the hospital, the hospitalization charges and other charges would be settled by the representative of the insurance company. 3. Always Compare the Quotes Before buying a policy Given the huge number of insurers nowadays, it has become absolutely essential for every buyer to compare the quotes and then finally buy the insurance policy. By comparing the quotes and features, one gets to buy the cheapest policy with maximum covers. Also, by comparing, you ensure that you are not overpaying for the same features and covers. 4. Check the Renewability process of the Insurance A health insurance policy is mostly needed by people after the age of 40. Therefore, if the insurance policy has a cap on the age of renewability, it would be in best interest to skip such a policy. One should go for an insurer who does not have a cap on renewability. 5. Network of Hospitals The insurer should have a wide range of hospitals in its network. This is one of the most essential points that one should ascertain before buying a policy. This is because, it would be practically impossible to drag the patient from hospital to another. 6. Additional Benefits There are numerous covers that are offered by the insurers. While some benefits added to the policy would cause a rise in the insurance quotes, a few benefits are add-ons to the existing policy and the features. For example, there are few insurers that offer free monthly checkup of minor health problems that include diabetes, blood pressure etc. So, before finalizing the policy, make sure you are making the most out of it. Buying health insurance policy by MedPlus MedPlus is one of the renowned health insurance providers. The MedPlus health insurance policy can be bought from online insurance comparison websites. Flexible covers, easy renewability, and fast claim process make it one of the most popular health insurance provider. Like it? Share it!More by this author |