When it comes to health insurance, there is no one-size-fits-all plan that you can rely on. Of the numerous plans in the market, you will find that each is unique in some way, with its own benefits and limits. This makes purchasing health insurance a difficult task. Here are some tips you should keep in mind to ensure that you aren't buying the wrong plan:
1) Individual insurance is usually more extensive than family rates and is also cheaper in the long run in your portfolio. In addition, individual health insurance covers most, if not all, the cost of examinations, before and after hospitalization, and other domiciliary costs, which are usually somewhat limited in an umbrella cover.
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2) Never select a policy based on premium alone. Find out what your insurer's claim settlement history is. If they have a reputation for speedy claim resolution and better payouts, go for it. If, however, the claim settlement takes ages and too much paperwork or other hassles, search for another provider.
3) Assess your risk-taking ability before you choose to opt for a floater plan. Though these are comparatively cheaper than individual plans and provide cover for your entire family, they also mean that you have to assume a higher amount of risk in exchange for a smaller premium.
4) Consider getting additional covers, like critical illness cover, accident cover, hospital cash, surgical cover, etc. These can be added to your existing policy as riders, for an added sum to your premium.