WHAT TO DO WHEN BUYING HEALTH INSURANCE COVER
Health insurance has been evolving over some time. Many regulations have been put in place, and much standardization has been happening.
Most investors bought the policy when it befitted insurance companies more than the investors.
Some of the regulations have changed like
– Health policies are mandatorily and issued for a lifetime.
_ Once the procedure is given, the company cannot claim levy based on loading.
_If the insurance company wants to increase premiums, they should notify their clients 3months before the increase.
Competition from upcoming specialized insurance companies has brought many good features from the typical claim products.
Before buying a health insurance policy, you should read the following tips to be a guide source.
1.Please don’t wait until it’s too late to buy a health policy.
Many waste time looking for a perfect health policy with all their requirements. Unfortunately, a perfect product does not exist. You can’t get a health policy with everything you wish.
If you get one with 90% of what you wish, take it.
Sometimes you may delay until you are too old, and the insurance companies may deny you a cover.
Buying health insurance early is better than waiting for a perfect policy.
2. Assess the health of the people you want to cover before you take a policy. List the people you want to protect and their health status. Cover all your family members.
You should know the age, hospitalization history, chronic diseases, and other health-related issues.
The health status and age will determine the premium you pay.
3. Do a lifestyle assessment.
The best insurance you can have is taking good care of your health. Always check your lifestyle and that of your family.
Eating healthy and having healthy habits such as exercising will positively affect your coverage.
A healthy lifestyle will protect you from most diseases but will not protect you from accidents and other ailments.
4. Do you want an individual cover, or do you want to cover for the whole family?
You can take a cover for each family member, or you can take a body that caters to all the family members.
The price for a family cover is lower than buying for each member.
The only time you should think of buying an individual cover is when you have a member of the family who is more than 50yrs old.
5. Always go through your insurance policy.
Ask your insurance agent to provide written information on the product you want to purchase. Ensure you go through all the information, and understand everything on the customer information sheet.
Inquire about everything until you are sure you are getting what you want and will be paying for.
You can check for the policy document sheet online before committing your money.