Essential information to look out for in your health insurance

With so many healthcare insurance products available in the market, it’s hard to know which healthcare plan fits you best. Nip this problem by finding out the right kind of information.

Certain healthcare plans come with their own network of doctors. That means your coverage and treatment options are limited to a selected panel of practitioners. If you have a specific physician you prefer, check whether he/she is on the list. If not, look up the credentials of any preferred doctor on the list to make sure that the treatment and medical advice that you will receive is dependable.

Employer’s group medical insurance often only provides basic hospitalisation and medical expenses protection, the sum insured may not be sufficient for the actual needs of the individual. If you have taken out critical illness insurance and suffer from critical illness, you will be entitled a cash benefit to use for emergency which allow you to focus on your rehabilitation.

“Don’t forget the importance of critical illness insurance”

Also not all healthcare plans provide coverage for free health check-up. Hence, it is wise to check that they are included before you sign on the dotted line. As going for a full-body health check-up every year is a good habit to have, having a policy package that can also extend across all members of your family would be the best-case scenario.

When you first start buying insurance, two common terms you will hear are ‘premiums’ and ‘deductibles’. Here’s a quick explanation:

High deductibles usually come with lower premiums, which means there are potential cost savings in the long run if you do not need to file any claims. Such plans are useful for younger people, who are less prone to major diseases at their age. However, if you have a family history of long-term conditions, it may be wise to stick with a low deductibles plan. This is to ensure that you’re not paying over the odds for medical treatment if the situation arises. Since every individual is different, your decision should not be based on price, but on what your needs are.

If you have any queries regarding different health insurance plans, please feel free to contact us or find out more about our insurance plans:

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