When buying health insurance in India, it is essential to ask the right questions to ensure you select a plan that fits your needs. Here are 10 important questions to consider:
What is the sum insured? Understand the maximum amount the insurer will cover in a year. Ensure it’s sufficient for potential medical expenses based on your health and location.
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What is covered under the policy? Ask about the specific illnesses, treatments, and procedures included. Clarify coverage for hospitalization, surgeries, pre-existing conditions, and day-care procedures.
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What are the waiting periods? Policies often have waiting periods for pre-existing conditions and specific treatments. Understand the duration and terms of these waiting periods.
Are there sub-limits or caps? Inquire about sub-limits on room rent, ICU charges, and specific treatments. Sub-limits can affect the claim amount, so it’s important to be aware.
What is the network of hospitals? Check if the insurer has tie-ups with reputable hospitals in your locality. A wider network can ease the process of cashless claims.
What is the claim settlement ratio? A high claim settlement ratio indicates that the insurer pays a large number of claims. This can be a good indicator of the insurer’s reliability.
Is there a co-payment clause? Co-payment means a portion of the claim amount must be paid by the policyholder. Understand if this applies to your policy and how it might impact you.
What is the policy renewal age? Some policies have a maximum age limit for renewal. Choose a policy with a lifetime renewal option for continuous coverage.
What are the exclusions? Know what is not covered, such as certain diseases, maternity expenses, or alternative treatments.
Are there any add-ons or riders? Consider additional covers like critical illness, maternity benefits, or personal accident riders that enhance your policy coverage.
Asking these questions will help you make an informed decision and choose a health insurance plan that offers the best protection for you and your family.
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