Health Insurance: The Do's and Don'ts

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.

Do's

Explore All Options

There are plenty of options available in the market hence; it is prudent to make a thorough research before buying a health insurance plan. It will help you to choose the best.

Read Terms and Conditions:

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.

Inclusions and Exclusions

It is very necessary that you read all inclusions and exclusions of the policy so that you can make the right decision.

Know Restrictions

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.

Compare Plans

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.

Disclose Your Health Condition

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.

Submit All Documents

It is required that you submit all relevant documents that your insurance company asks.

Medical Test

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.

Premium Payment

Always wait for your proposal to be accepted by the insurer before making the premium payment.

Timely Renewal

Always remember to renew your health insurance policy timely so as to avoid any hassles.

Don'ts

If You Don't Understand, Don't Buy

Never buy an insurance policy whose terms and conditions you are unable to understand clearly.

Don't Conceal

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.

Don't Delay Policy Renewal

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.

Good tips , thanks for sharing.

Health insurance for a couple we should never club it together .The best option for most couples is to buy separate life insurance policies for each spouse. There are two types of coverage available: term and permanent life insurance. Term life insurance is typically sufficient for most families