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10 Questions you must ask before Buying a Health Insurance Policy?

health insurance

Choosing a health insurance policy might be a difficult task due to the variety of available choices. In addition, a lack of knowledge may lead you to select an insurance plan that may not be the most suitable alternative. Unfortunately, the majority of us tend to purchase insurance that appears inexpensive, regardless of whether or not it provides the necessary coverage. Also, humans have a strange tendency to follow the crowd; for instance, if someone you know has purchased this policy, you tend to see it favourably and end up purchasing it without a second thought. Therefore, we should conduct a more in-depth and thoughtful analysis before buying the best health insurance policy in India.

10 important questions to ask before buying a policy

Below is a list of ten primary questions you must ask your insurer before selecting the best insurance policy.

What is the type of health plan you are purchasing?

The first question you must ask your insurer is which type of insurance plan is optimal for your needs. There are three available types of medical insurance:

  • Fixed benefit
  • Medical Claim 
  • Critical illness

Examine the benefits of each plan carefully, and then make a good choice that would meet your requirements. You should also ask your insurance agent about the kind of health policy you should invest in, such as an individual policy, a health insurance policy for family, or a group health insurance policy.

What does your policy include?

The list of conditions covered by the policy and eligible for claims is referred to as policy coverage or inclusions. Hospitalisation costs, pre and post-hospitalisation costs, ambulance services, lab tests, prescription medications, organ offering costs, and other costs may be covered by an insurance policy. To understand the precise coverage offered, you must carefully study the policy paperwork.

Is your plan cost-efficient?

The key feature of the best health insurance policy is that it should be cost-effective and provide value for money. The cost of your plan can be defined as the premium you pay every month to your insurer, which is essential to keep your health coverage active. The price can vary depending on the kind of plan you select and how much coverage you need.

What terms are not covered under your policy?

The policy excludes certain situations. After waiting time, some insurance policies cover sickness. Being aware of the insurance exclusions might also assist you choose a policy.

Are routine health check-ups included in your insurance policy?

Some conditions necessitate you to go to the doctor’s office for regular checkups. It would help if you found out whether or not your plan will pay for preventative checkups and exams and then choose the policy that suits you the best.

How is the insurance premium determined?

Age affects insurance premiums. Remember that older people are more likely to get sick and need more medical care; thus, the cost will be higher and medical history affects rates. A healthy medical history lowers your premium.

What is the claim filing process?

Since crises may happen anytime, it’s best to know how to start a claim. You must comprehend the claim procedure and the paperwork needed to start a claim. You can also avail cashless medical insurance policies from your insurer.

How many maximum claims can you make in a year?

There are no general limits on the number of claims you can make in a calendar year as long as they don’t exceed your policy’s maximum sum insured. However, before filing a claim, inform your insurer of the claim limit.

Have you determined if your chosen physician will be available to treat you?

Since out-of-network providers are pricey, check the list of network hospitals to see if your desired doctor or hospital is on it.

How much will you be required to pay for medical care?

Medical insurance is associated with certain out-of-pocket expenses, such as deductibles and coinsurance. You must pay this sum out of your pocket when you obtain medical attention. To learn more about these fees, contact your insurance company.

Final Thoughts

Make a checklist of these questions, and then use it to choose the best health insurance policy. Another essential thing to remember is to read the policy rules and regulations carefully before you sign the policy documents, no matter which plan you choose.

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