With the ever increasing medical costs, buying health insurance is no longer just an option but a necessity. And, knowing that health insurance policies do not come at much a cheaper rate, it is essential that you consider certain factors. The factors that could help you decide which plan to go with. So here is a list of Dos and Don’ts that you must go through before you finalize on a health plan.
1. Keep in mind your requirements
While browsing through health insurance plans, check if the plan that appeals you covers your preferred/nearby hospitals. Check for the waiting period for pre-existing medical conditions. The lesser the waiting period, the better it is.
2. Consider a rider
If you do not have a standalone critical illness policy, you may like to consider a critical illness rider with your health plan. This rider will provide you a lump sum amount to tackle financial emergency when diagnosed with a life-threatening illness. You may also opt for a personal accident rider or a maternity cover, whatever suits your requirement.
3. Go through the policy documents carefully
You surely do not want to miss out on any important details which may later lead to rejection of the claim. So before you subscribe for a plan, make sure you’ve gone through all the details carefully. Check for the exclusions, hidden clauses, etc.
1. Do not conceal any important information
Informing your insurer of an existing medical condition is an important disclosure you need to make prior to buying a health insurance plan. Suppose you underwent a surgery for a heart disease last year, but now that you’ve recovered from that illness, you didn’t think it was necessary to point that out while filling the insurance form. Do not however do that. Hiding about your medical condition of any sort may lead to rejection of the claim later. So refrain from hiding any similar facts from your insurer.
2. Do not solely depend on your employer-provided health plan
Oftentimes, your employer may provide you with a health insurance cover. However, you must understand that the health plan provided by your current employer gets terminated once you leave the company. Also, the health cover provided by your employer may not be enough to meet the rising medical expenses. A separate health cover is what you will require as far as current medical expenditure is concerned.
3. Do not postpone purchasing/renewing your health policy
Just like you must dig your well before you’re thirsty, you need to get yourself a health cover before the emergency strikes. If you already have a health plan, get it renewed on time lest you might end up paying out of your own pocket. With a valid health plan by your side, you can curtail your hospitalization expenses, so make sure you always have one.
An Indian household where 70% of the health expenses are paid out of its own pocket is gradually moving towards the poverty line. This is alarming enough to help you decide whether or not you should consider getting yourself and your family a health insurance plan. But before you get one, make sure you do not fail to tick off the above points. For further insight on health plans in India, get in touch with OneInsure at email@example.com or at 86559 86559 and get the best deals.