Question

What Are The Parameters One Should Check For While Shopping For A Health Insurance Plan?

Answer 1

Below are the Parameters One Should Check For While Shopping For A Health Insurance Plan

1. Waiting periods for pre-existing diseases
2. Waiting period for certain surgeries/ailments/procedures
3. Sub-limits, if any
4. List of daycare treatment/procedures covered
5. Per illness limit, if any
6. Room rent sub-limit - Check whether it is capped. Room rent is a very important parameter to check as some other expenses are in paid in proportion to the room rent.
7. Whether the policy is co-pay or fully reimbursable
8. Exclusions under the policy
9. The network of hospitals, whether the preferred hospital is part of the network
10. Incurred claim ratio and claim settlement ratio of the insurance company