Doctor charges only Rs 5 for treatmentThe reason that we are asking you to do this is because even with all the options available, it is not very easy to select a product. A health insurance broker has the expertise and the knowledge to give you the most neutral advice to choose a product suitable to your needs. Even when all the policy conditions are mentioned in the policy, finer insights (for ex., some health insurance companies have increased their premiums three times in the last 2 years) is something only a broker can provide you with. Unlike agents/financial advisors who represent a given insurance company, brokers represent you and deal with all insurance companies; therefore, their advice is unbiased.
What’s more, this service is rendered free of cost to the customer! So consult a health insurance broker to help you choose a product suitable for you. Now, we give you the important parameters you must focus on while comparing health insurance policies. Co pay: Please pay attention to this term in your health insurance policy since it can be an important differentiating factor in policies. ‘Co pay’ means there will be a division of allowable expenses between the customer and the health insurance company. If there is a 10% co pay on all claims, you have to pay 10% of the expenses and the company will pay 90% of the expenses. Generally senior citizen and some floater plans have ‘co pay’. It is wise to check if the product you choose has aco-payment condition. Limits on certain treatments
There are many treatments which have been capped by health insurance companies to reduce their outgo in event of overcharging by hospitals. For example in Star Health’s Family Optima, Cataract is paid upto a limit of Rs.12000 and to Rs.10,000 in National’s Varishta mediclaim So you need to check the policy to see if the policy has such limits and which are the diseases which are capped.Waiting period for Specific diseases: There are many diseases like hernia and procedures like tonsillectomy and knee replacement surgery that are covered only after 2 years of buying the policy and continuing cover without a break with the same insurance company. You need to check the policy wordings of the policy online to find out. Dedicated Health Insurance brokers with a website of their own make wordings of all health insurance policies of all insurance companies available in one website.Pre-existing diseases covered after
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