As early as 20-25 years back, before the internet became the giant sensation it is today, controlling every movement in our lives, there was a time when a doorbell meant a salesman trying to sell his products. These products ranged from pressure cookers, toilet cleaners to even insurance policies! As unusual as it sounds, that was actually how insurance policies were sold back in the days. The agent would offer his services, answer all your questions and close the deal.Over the years, developments were made with the way things are bought and sold and soon even insurance policies could be purchased online. If we talk about the health insurance sector, it has gone through significant changes, too, over the years. Trusted insurers like Care Health Insurance Company now offer a range of plans and every individual will find a suitable option for his medical needs.
The process of buying an insurance policy pretty much remains the same. That is, you go through the benefits included in the policy, ask the agent over call any doubts that you might have, and close the deal. However, to make sure that you have chosen the right policy for yourself, it is important to know that to ask your agent.
Top 5 Questions to Ask You Health Insurance Agent
Asking the right questions will limit the room for any surprises in the future while you can be sure that you have got the best health insurance plan for yourself.
● What is covered in the policy?
This should include the type of policy and what each type covers. Understanding the amount of coverage and at what premium is important to help make the correct decision. Different companies provide different coverage for the same type of health insurance plans and asking for a detailed report from the agent will give you a clear picture of what exactly it is that you want. For someone with a history of cancer in the family will be more inclined towards obtaining a cancer mediclaim than accident insurance.
● What is the sub-limit, if any?
Some policies have sub-limits and some do not. A sub-limit is basically the percentage of expenses that will be covered by the company and the remaining amount will have to be borne by the insured. Expenses for things like doctor’s fees and hospital room rent are usually capped by the insurance company. It is always better to either go for a policy where the percentage of the amount that will have to be paid by you is at a minimum or a policy that does not have any sub-limits.
● What is the waiting period?
Insurance policies usually come with a waiting period which basically means the amount of time you have to wait for before you can enjoy the benefits of the insurance. The waiting period is often applicable for certain illnesses and pre-existing diseases and differs accordingly. Some policies have a longer waiting time and some shorter. It is always advisable to clarify the waiting time that is attached to the policy. It will help you to pick the best health insurance plan with a lower waiting period.
● What is the amount of premium?
Premium is the amount of money that you pay to the insurance company to keep the insurance from expiring. It is calculated based on various factors which typically revolve around the benefits that you are getting out of the policy. Understand carefully about things you are actually paying for and things that you do not need. The amount of the premium is something that you should be able to sustain in the longer scheme of things.
● What does the policy not cover?
Along with knowing what your health insurance policy covers, it is important to know everything that the policy does not cover. These can range from certain expenses to various pre-existing diseases that the insurance company will not bear the cost of. Hence, reading about the exclusions in the policy document is important, that will give the policyholder an idea about the expenses one needs to prepare for.