Good health insurance is a definite must have. Many people realize this when it is too late, when they get stuck in difficult circumstances and, up to that moment, they do not bother to spend a little time and effort to get to know and understand the policies being offered by insurance companies. It is important not just to own a health insurance policy, but to choose the right one, suitable to your needs and your financial possibilities. There are a few aspects you need to consider:
First of all, make sure you pick the right insurance company. Insurance companies which provide health insurance tend to offer either general insurance or life insurance. It is the overwhelming expert opinion to choose the company that offers general insurance for your health insurance policy over the company that offers life insurance, simply because the fact that the life insurance company will not be focused on the health insurance, but on the reimbursement of the deceased person`s family and the health insurance will usually cost more.
It is important to plan ahead in accordance with your needs in the future; you have to be able to predict your future needs so the insurance policy can cover these situations as well as the existing ones.
Before you make your choice, inform yourself about the type of health insurance. There is a ton of material about health insurance policies, be sure to read and absorb as much as possible and your choice will then be much better after asking as many questions as you can think of.
Be well informed about the “sum assured”, essentially the amount of money that can be reimbursed in one policy year to cover your medical costs. You have to be aware of the rising medical costs, because this sum is the basis of your claims, yet it must not overextend your budget so it is difficult to pay the premium.
Insurance companies have hospitals they work with, called “empaneled hospitals”. It is wise to get to know which company cooperates with which hospital and to check the reputation, specialty and distance from your home for hospitals offered.
There are several factors which form the premium, basically the yearly price of your insurance. These are usually straightforward, but sometimes insurance companies include several factors which can have varying degrees of influence on the premium, so it is wise to understand them. These may include the “sum assured”, number of times you used insurance and for what amount.
Always read the fine print! Ask questions if you do not understand them. There are important clauses hidden in the fine print sometimes, usually concerning the maximum age for which the policy is good for, pre-existing diseases and maternity clauses.
Check out as many policies being offered as you can. Compare the policies of different companies and talk to friends and relatives about their experiences. Also, insurance companies will offer some flexibility when it comes to payment of the premium, so make sure you take this into account if you run into financial difficulties. But if you are a disciplined customer, some insurance companies will offer bonuses or discounts for the next year`s premium.