InvestorQ : What are the things one should look for while choosing a health insurance plan?
Monali Shah made post

What are the things one should look for while choosing a health insurance plan?

Answer
image
Rishita Das answered.
3 years ago
Follow

You must do all your research before you finalise on any financial product. This is because most financial products are for the long term and hence, have significant impact on our financials.

Let’s take a look at the few parameters that you must be aware of before you purchase a financial plan:

  • Number of members and relations to be covered; this is important because it will be the basis of buying an insurance policy.
  • Type of coverage; options vary from individual, family floater or group insurance.
  • Sum insured or coverage amount; you need to bear the future expenses in mind before buying a policy.
  • Room rent; ensure you check for the capping amount or criteria in the health policy you wish you purchase.
  • Sub-limits or co-pay applicable; check for the sub-limits applicable for some specific list of ailments or package treatments. Also, check if the plan has a co-pay feature.
  • Network hospital list; check for the list of network hospitals and try buying a policy which covers your regular hospital and/or one that’s close to your home.
  • Policy wording; You should be aware of everything mentioned in the insurance policy. In case you are not sure about certain terms or conditions, you can always contact the insurer for clarification.
1 Views