Accelerating healthcare costs has made it imperative for everyone to own a health insurance policy. But it is a daunting task to choose the best for oneself from the cluster of options available in the market.
Here are few do's and don ts that will help you to make the right decision.
It is very important to read all the terms and conditions of a policy before signing. This will help you to get the right picture of its coverage.
It is very necessary that you read all inclusions and exclusions of the policy so that you can make the right decision.
Read policy document to understand limit and sub-limits for various treatments defined in it. Know is there co-pay clause or not. The co-pay clause means that you have to shell out a certain percentage of the claim from your own pocket.
Always compare all health insurance plans available in the market before making a purchase as it will help you to get the right policy at most affordable price.
It is very important that you disclose your health history correctly to your insurer so as to avoid any dispute at the time of claim.
It is required that you submit all relevant documents that your insurance company asks.
If your insurer requires you to go through medical tests, check where and how they will be carried out. Also, check who will bear the cost for these medical tests.
Always wait for your proposal to be accepted by the insurer before making the premium payment.
Always remember to renew your health insurance policy timely so as to avoid any hassles.
Never buy an insurance policy whose terms and conditions you are unable to understand clearly.
Do not conceal anything from your insurer related to your health condition so as to avoid any dispute in future at the time of claim.
Do not delay your policy renewal or your policy coverage might no longer be of any use.
These do's and don'ts will help you understand health insurance policies better and make an informed decision.Edited by PolicyMantra - 3 years ago
Topic started by PolicyMantra
Last replied by jackyh