subject: How To Select The Best Medical Insurance Policy For Yourself [print this page] Get the most appropriate health insurance policy for yourself is most likely not the easiest task. One way is of course to call an agent and take what he or she recommend. Chances are that you may not find the best health insurance plan, simply the one which the agent can easily provide you.
There are certain necessary questions that should be resolved prior to going about the task of selecting the foremost health insurance policy for you.
Question 1: Whom are you trying to insure under the health insurance policy - solely yourself or for your entire family?
Question 2: Does any member whom you are planning to cover bear some pre-existing disease for that you do undergo treatment regularly?
Question 3: What are the average medical expenses you have incurred due to hospitalization within the past 3 years?
Question 4: Are there any hospitals near to your residence that is your preferred place for treatment?
Question 5: Are you and your family members already covered under a group health insurance plan provided by your employer?
Based on Questions 1 to 3, you should be able to review on the amount of health insurance cover that you would need. If you have not any major expenses in the last few years, looking the amount will be a challenge. Simply it certainly does not mean that you do not need health insurance cover. The health care prices are these days ridiculously high and that could be wiping off a considerable constituent of your savings in case you meet with an accident or else even get admitted with the ever-threatening flu which is in the air. The expenditures of treatments for the most basic hospitalizations can make a big dent in your savings. If you have not incurred costs, it would be safe to choose an amount of at least 20% of your actual yearly earnings, with a least amount of covering being Rs. 1,00,000.
Question 3 is crucial not only for the amount of insurance cover which you want, but also to check in what period the pre-existing diseases would start getting continued in your health insurance policy. Majority companies have a waiting period of 2 to 3 years prior to the health insurance plans begin tracking pre-existing diseases. As Well, it is not advisable to hide these facts at the time of applying for a health insurance plan. Declare all facts clearly so that there are no surprises at the time when you go in for a claim. All info should be correctly filled.
Now getting to Question 4 This is a factor that should be kept in mind while purchasing a health insurance policy. However not an absolute must, one of the big reasons for acquiring health insurance is to make sure that in case of a medical emergency crisis, the last thing which would be a possible hindrance is the availability of money. Therefore checking out that the health insurance company has a cashless medical insurance tie-up along with the hospital near to your place can be a big gain. Thus this should be part of the decision making process.
Getting to Question 5 Many of us is covered by a group health insurance policy that takes care of our up to date requirements. It is suggested that you buy a policy separately. This gains value as there would be no risks in case you are between jobs contrived or unplanned. With corporate India increasingly following the hire and fire insurance policy, the final thing you would require health expenditure when you are unemployed. Likewise if you prefer an individual plan, there would be a waiting period to cover pre-existing illnesses. Your call finally, but it is recommended.
Bearing this facts in mind, shortlist a list of plans and get in for the foremost health insurance policy. Don't for all time get in for the cheapest alternative may not be the best thing to do. The foremost policy is definitely to lead a good life, but even then an accident can take place so health insurance is the best choice!
by: Sameer Ujwal
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