Choosing the right health cover is an
important decision as it provides you a sense of security by offering immediate
medical assistance in case of an emergency. However, there are many people who
buy the policy as per their agents' advice and don't bother about their
personal requirements. To them, it is advised to keep in mind the following 8
tips while choosing a health cover:
Tip 1:
You must always purchase a health insurance policy no matter whether or not
your company offers you a corporate health cover. There are times when you quit
the job or your company decides to withdraw the benefits or provides a cover
that is not fit for you, in these cases your personal health cover may benefit
you. This becomes more important if anyone in your family is suffering from a
chronic disease.
Tip 2:
Always choose the right amount of sum insured. If you are living in a small
city, your health cover should be around 3-5 lakhs whereas if you live in a
metropolitan city, your health insurance cover should be no less than 5-10
lakhs. Don't purchase a new plan; instead port it to get maximum benefits out
of it. When you port the plan, the benefits which have been already accumulated
in your old plan get transferred in the new policy. Also, keep upgrading your
health cover from time to time to take care of your medical inflation.
Tip 3:
Buy a health insurance cover as early as possible, especially before you reach
in your 40's. This is because, you are less likely to make claims in early
stages of life and can later reap the benefits of no claim bonus and add up to
the original coverage every claim-free year.
Tip 4:
Always purchase a cover that offers lifetime renewability. This way you will
have a health cover at the older age - the time when you have a major health
problem and that protection is possible only if your policy offers lifetime
renewability.
Tip 5: Buy a policy which gives you
restore limit just in case you fully use your sum assured. This will act as a
backup cover in an unforeseen critical illness which may be very expensive to
manage. For example, Rs 3 lakh plan with Rs 3 lakh restore limit almost gives
you Rs 6 lakh cover for critical illness at no extra cost.
Tip 6:
Always purchase a health cover through a reputed agent who can help you with
claims too in future. For this, you can seek help of online websites to select
a plan or examine features but only buy the health cover through an agent or
company which has the ability to help you with the claim or offer easy claim
settlement procedures.
Tip 7:
Always provide the right and true information in your application form. If you
suffer from any disease or illness, don't forget to mention it in your
application. You can seek the help of an agent who can assist you in getting
the right plan which will cover the disease even after a waiting period.
Presently in most policies all preexisting diseases get covered after 3 to 5
years.
Tip 8:
Buy the policy with no or minimal sub-limits. Keep an eye out for plans with
offers a cap on hospital room rates. This way save your money and give you a
sense of relief too.
To know more about health insurance policy, please check our
website at https://www.hdfcergo.com
Article Source: http://EzineArticles.com/expert/Emily_Moorey/1888885
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