If you are planning to get a health insurance for yourself or your beloved ones, you must know about certain facts related to it. It will eventually help you make a wise decision on the policies and offers on various health insurance facilities. While there are many banks claiming to give the best of the insurance plan to the user, it is ultimately the fine judgement of the individual which will help him/her select a suitable health insurance plan.
Here are the top 5 things that you must remember when buying a health insurance.
- Know the deadline of the claim: Before taking a medical claim, it is important to get your policy reviewed and renewed each year. However, it is in effect from the first year you had paid the premium for, but will eventually have to be renewed every year. This also depends on the amount of the insurance made for it. Some of the insurance plan also comes with the two year premium payment option but it also depends on the insurance service company under which you are planning to get the health insurance done. Check with the health insurance company of your choice about the options made in premium policies.
- Your age matters: As your age increases, you will be given a higher premium for the same health insurance claim. This is referred to as ‘loading’. This is something that you must remember before taking a medical claim in India. Unlike a life insurance policy, where a fixed amount of money is paid throughout the year, health insurance will require the individual to pay higher premiums with the increase of age. Health insurance is not a life long claim. After you cross a certain age, the claim will expire. For this purpose you must inquire about the age limit of the health insurance.
- Your doctor may not be a part of the insurance claim: If you want to include your doctor in the claim, there are less chances of it to be a part of the deal. There are some agencies which may give such a claim, but you will have to pay high amount of premium to entertain such a facility.
- Your medical aids may not be a part of the claim: Not all the health insurance covers all the benefits. This is especially true for certain medications, alternate practices may exist. For that, you must inquire and see if you will have to pay higher amount of premium for it or not.
- Know your expected medical costs: You may not be able to calculate the fine amount,but you must have the rough idea about it. After discussing it with people and making a rough calculation, you must select an appropriate plan which goes within your budget and gives you the proper return of the claim.
These are top 5 important things that you can know to invest in the proper health insurance of your choice.