http://www.jagoinvestor.com/2011/05/health-insurance-buying-steps.html
1.Cut out the frills. Go Basic
Bottom-line : You should first look at covering ALL members of your family for the larger “unmanageable” costs, which could burn a
hole in your overall financial planning before signing for any fancy product. (see two policies which are cost effective)
2. Don’t Compare Premiums
Bottom-line: Understanding the benefits and terms is more important than the cost you are paying.
3. Look for Maximum Renewal Age
Bottom-line: An insurance product which does not work, when you most need it, is not insurance.
4. Look for Limits (Treatment wise limits & Copay)
Bottom-line: Know what you will not get paid.
5. Understand Day wise Cash limit Health Products
Bottom-line: All plans which are called Health Insurance may not be what you are looking for.
6. Zero in on a Coverage amount/Sum Insured
Bottom-line: Look for the highest cover affordable. An I-will-upgrade-it-later option may not work.
7. Compare Premiums for age bands higher than 45 years
Bottom-line: Know how the premiums change in the long run.
8. Credibility, Check. Look at the history of the company
9. Products for older age/Senior Citizen family members.
Bottom-line: There is no Perfect Product. Definitely not, if you are a Senior Citizen.
1.Cut out the frills. Go Basic
Bottom-line : You should first look at covering ALL members of your family for the larger “unmanageable” costs, which could burn a
hole in your overall financial planning before signing for any fancy product. (see two policies which are cost effective)
2. Don’t Compare Premiums
Bottom-line: Understanding the benefits and terms is more important than the cost you are paying.
3. Look for Maximum Renewal Age
Bottom-line: An insurance product which does not work, when you most need it, is not insurance.
4. Look for Limits (Treatment wise limits & Copay)
Bottom-line: Know what you will not get paid.
5. Understand Day wise Cash limit Health Products
Bottom-line: All plans which are called Health Insurance may not be what you are looking for.
6. Zero in on a Coverage amount/Sum Insured
Bottom-line: Look for the highest cover affordable. An I-will-upgrade-it-later option may not work.
7. Compare Premiums for age bands higher than 45 years
Bottom-line: Know how the premiums change in the long run.
8. Credibility, Check. Look at the history of the company
9. Products for older age/Senior Citizen family members.
Bottom-line: There is no Perfect Product. Definitely not, if you are a Senior Citizen.
