Hi Friends,
A lot of you have helped me in my venture of becoming a health insurance advisor for Apollo Munich. When I thought of buying a health insurance policy for myself, I considered the following before choosing my policy:-
1) Ethical Management- It should be from a group which is ethical. An unethical group running a health insurance business is a strict no-no. They will not pay you when the claim arises.
2) Network Hospitals- Choose a health insurance company which offers you the maximum network hospitals. It should have a tie up with atleast 3 out of the top 4 hospitals in the city that you are residing apart from all other major hospitals across all cities.
3) Cashless Hospitalisation- Choose a health insurer which provides for cashless hospitalisation at most of the hospitals. If it does not provide cashless benefits across the major hospitals, there is no point of buying a health insurance policy. What is the use of going for a health insurance in the 1st place if you have to opt for reimbursement? The objective of taking a health insurance is that it should not put you under any financial constraints when your near and dear ones are hospitalised.
4) Claim Processing- Choose a health insurer which does not take a lot of time in processing the claims.
5) Have an insurance agent instead of buying the policy online- You should have a professional accountable agent who will take care of your claim processing in case of a need arising. When you are getting an agent for free, its better to make use of the agent than to feel good about buying a policy online and not knowing what to do when the claim arises. Do not choose an agent who looks like a patient himself.
6) Choose a decent renewable cover- Most of the people compare policies on the basis of premiums. It is an exercise in futility. Make sure that you go for a policy which gives you a good cover, is renewable for lifetime. Healthcare costs are increasing at an average cost of 17-19% per annum. Its very important to have a high health cover and not focus on the premium too much. As they say, do not be penny wise and pound foolish.
Your Friend,
Vivek
A lot of you have helped me in my venture of becoming a health insurance advisor for Apollo Munich. When I thought of buying a health insurance policy for myself, I considered the following before choosing my policy:-
1) Ethical Management- It should be from a group which is ethical. An unethical group running a health insurance business is a strict no-no. They will not pay you when the claim arises.
2) Network Hospitals- Choose a health insurance company which offers you the maximum network hospitals. It should have a tie up with atleast 3 out of the top 4 hospitals in the city that you are residing apart from all other major hospitals across all cities.
3) Cashless Hospitalisation- Choose a health insurer which provides for cashless hospitalisation at most of the hospitals. If it does not provide cashless benefits across the major hospitals, there is no point of buying a health insurance policy. What is the use of going for a health insurance in the 1st place if you have to opt for reimbursement? The objective of taking a health insurance is that it should not put you under any financial constraints when your near and dear ones are hospitalised.
4) Claim Processing- Choose a health insurer which does not take a lot of time in processing the claims.
5) Have an insurance agent instead of buying the policy online- You should have a professional accountable agent who will take care of your claim processing in case of a need arising. When you are getting an agent for free, its better to make use of the agent than to feel good about buying a policy online and not knowing what to do when the claim arises. Do not choose an agent who looks like a patient himself.
6) Choose a decent renewable cover- Most of the people compare policies on the basis of premiums. It is an exercise in futility. Make sure that you go for a policy which gives you a good cover, is renewable for lifetime. Healthcare costs are increasing at an average cost of 17-19% per annum. Its very important to have a high health cover and not focus on the premium too much. As they say, do not be penny wise and pound foolish.
Your Friend,
Vivek
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