SHARE
Much like shopping for any asset, shopping for health insurance can be exhausting. With the frequent changes in the insurance domain, figuring out the kind of plan that is the best for you can get a little intimidating. But it doesn’t have to be. Ask the right questions or hire an independent expert and you will be able to find the right match for you.
- Does it offer the right network coverage?
Make sure the plan covers hospitals you prefer. It should cover a wide range of medical necessities—ambulance charges, critical illness benefits, maternity benefits, cashless treatment, and in-patient hospitalization.
- Does it cover the whole family?
The policy should be tailored to the needs of each family member. It should easily let you add a family member. Understand the membership process and ensure it is flexible. In the event that the senior-most member passes away or becomes ineligible for coverage, the remaining family members should be able to continue under the same policy without losing any benefits. - Are you clear about the fine print?
- Room rental limits
The policy will specify if your room can be private or shared. Choose a policy with a higher room-rent limit so that you do not have to paying more from your pocket. - Co-payment clause
A co-payment clause specifies the amount the insurance company expects you to pay before it settles the rest of the claim. For example, if there is a 25% co-pay clause and you have a claim of ₹ 5 lakhs, you will have to pay ₹ 1,25,000 out of your pocket, before the insurer covers the remaining ₹ 3,75,000. If you do not want to make a co-payment, choose a policy that does not have this clause. - Waiting period
Most health insurance plans cover pre-existing conditions, maternity expenses, and specific treatments, such as heart diseases, dental treatments, etc. after a certain waiting period. Choose a plan with minimum waiting period.
Too many unhealthy details to worry about? Seek help from a financial planner, who will first understand all your needs, explain the right kind of coverage you need and then recommend the policy that is in your best interest.
Start your personal wealth journey with us today!
Plan to Maximize Your Retirement Years
October 4, 2018
0 Comments
Leave a Reply
- 2019
- 2020
- Awards
- Banking
- Budget
- Cashflow Management
- CORPORATE
- Corporate Wellness
- Couple
- Cross Border Financial Planning
- Dreams
- FAQ
- FINANCE
- Financial Goal
- Financial Planning
- FINANCIAL TRANSITIONS
- FINANCIAL WELLNESS
- Goals
- Holidaying
- Housing
- Insurance
- Investment
- Market
- Money
- Mutual Funds
- NRI
- Portfolio
- Real Estate
- Retirement
- Risk Management
- Rupee
- Succession Plan
- Tax Planning
- Tax Return
- Technology
- Wealth Management
- Women
Categories
Much like shopping for any asset, shopping for health insurance can be exhausting. With the frequent changes in the insurance domain, figuring out the kind of plan that is the best for you can get a little intimidating. But it doesn’t have to be. Ask the right questions or hire an independent expert and you will be able to find the right match for you.
- Does it offer the right network coverage?
Make sure the plan covers hospitals you prefer. It should cover a wide range of medical necessities—ambulance charges, critical illness benefits, maternity benefits, cashless treatment, and in-patient hospitalization.
- Does it cover the whole family?
The policy should be tailored to the needs of each family member. It should easily let you add a family member. Understand the membership process and ensure it is flexible. In the event that the senior-most member passes away or becomes ineligible for coverage, the remaining family members should be able to continue under the same policy without losing any benefits. - Are you clear about the fine print?
- Room rental limits
The policy will specify if your room can be private or shared. Choose a policy with a higher room-rent limit so that you do not have to paying more from your pocket. - Co-payment clause
A co-payment clause specifies the amount the insurance company expects you to pay before it settles the rest of the claim. For example, if there is a 25% co-pay clause and you have a claim of ₹ 5 lakhs, you will have to pay ₹ 1,25,000 out of your pocket, before the insurer covers the remaining ₹ 3,75,000. If you do not want to make a co-payment, choose a policy that does not have this clause. - Waiting period
Most health insurance plans cover pre-existing conditions, maternity expenses, and specific treatments, such as heart diseases, dental treatments, etc. after a certain waiting period. Choose a plan with minimum waiting period.
Too many unhealthy details to worry about? Seek help from a financial planner, who will first understand all your needs, explain the right kind of coverage you need and then recommend the policy that is in your best interest.
Start your personal wealth journey with us today!
0 Comments
0 Comments