When it comes to taking out an insurance policy it can seem daunting and confusing. Here are a few do’s and don’ts we follow when it comes to finding the best cover for you.
Understand your requirements
More often than not, people are buying health insurance cover without actually knowing what they might or might not need within a policy. Buying a policy without knowing your requirements will either leave you under-insured or over insured. For example, buy individual health insurance if you do not have any dependents or buy a family floater policy if you have a spouse and children.
Compare medical insurance
This is probably one of the best features of using a broker, they can compare different health insurance plans side by side without you having to lift a finger.
Read the Policy Document
The most important aspect of buying any kind of insurance is to read through the policy document. A policy document is full of terms and conditions written in a technical language, but you need to be aware of the coverage, exclusions and also the conditions written in it. If you don’t understand any part, you can simply get in touch with your insurer, the customer care executives will be more than happy to help you.
Don’t hide the status of your health
When you buy a health insurance plan, your insurer provides a financial cover in case of a medical emergency. If you hide the status of your health and make a claim for a situation that is not covered in the policy, your claim will get rejected. Never give false information or hide the status of your health while buying the policy.
Don’t avoid buying extra cover
With a health insurance policy, you should get all-round coverage if a medical emergency strikes. If you feel that your existing policy is not sufficient you should consider buying extra coverage. For example, a mediclaim policy provided by your employer may not be sufficient, strengthen the cover by opting for a separate health insurance coverage.
Don’t delay renewing your policy
The duration of a health insurance policy is usually one year, beyond which you need to renew the policy. To keep your financial safety net intact, renew your health insurance policy on time.
Don’t buy unless you understand
Do not buy a health insurance plan if you don’t understand what it offers. It may not cover your requirements and leave you under insured. This is as good as not buying health insurance at all.
At Switch Health we will always strive to find you the best policy and provide you with independent and impartial advice to make your experience with us positive and personable. To get a free quote visit our ‘Get a Quote’ page.