Health Insurance

Things To Keep In Mind While Buying Health Insurance

Signing up for insurance is a must. It’s the need of the hour, and it’s the best cover you could have in case of any emergencies you come across. But most of us are super confused when it comes to insurances – you don’t know what exactly you should be signing up for to ensure your needs are sufficed. So here’s a guide – it will help – read on:

The right time to buy insurance:

insurance

The earlier you, the better it is for you. So make sure you purchase insurance the moment you feel your finances are stable. Don’t wait too long though – insurance begun at a young age will reap you a lot of benefits later. So yes, the early bird catches the worm.

Type of insurance coverage:

This you need to be clear with since the start. Are you looking for a personal plan that will cover only your individual requirement? Or do you want something that will benefit your entire family? Now, this depends on you entirely. If you’re unmarried and still wish to have a family floater plan, you can go ahead, provided your income allows you to.

What the insurance offers:

insurance offers:

Every insurance plan is different, and the coverage they offer varies. So you need to be careful of all the minute details. Keep in mind all the illnesses and diseases for which you would require insurance coverage and then look out for a plan accordingly. After reading every detail, only then feel free to sign the dotted line.

Riders:

Insurances come with a lot of riders. So if you have any query regarding any of the terms and conditions, it’s best to ask right away rather than regretting later. Every clause matters and to avoid disputes later, you need to be careful since the start itself.

Tied up hospitals:

There’s no point if your insurance company hasn’t tied up with the hospital near your home or where you are undergoing treatment. While this doesn’t mean that you cannot go to hospitals which are not tied up with your insurance agency, it does mean that your bill settlement will be a lot easier if you head to hospital which has a tie-up with your insurance company.

Keeping these little things in mind while buying insurance is a must. After all, the main objective of  insurance is to relieve you in case of an emergency – so make sure you sign up for one which does so and doesn’t add to your worries!

Must Have

Basic Insurance Policies Everyone Must Have

Health insurance is not enough all by itself – neither is car insurance or home insurance. Every person needs to have essential insurances in place, which keeps you as well as all your assets secure in case of emergencies. Here’s a list of necessary insurances everyone must have:

Health insurance:

The first and foremost insurance that you need to sign up for – because the rest comes into picture if you are hale and hearty. Putting yourself first, sign up for health insurance that suits your requirements. Make sure it covers all the illnesses you wish to have coverage for. Also, check for the list of tied up hospitals when you sign up for the health insurance to make your job of bill settlement easier. Consider the type of policy you want – individual or family floater and also choose a premium payment plan that suits your needs.

 

Car insurance:

A must in case of accidents or any other damage, car insurance is a saviour considering the huge expenses that go into the repairing of a car. You need to be clear with what you expect from your insurance – a cover against theft? Personal injuries, damage to your car, damage to other cars – and the list goes on. Focus on your needs and make sure you have proper car insurance that is comprehensive in nature to cover all your needs at once.

Life insurance:

Health insurance varies from Life insurance. Most of the people are confused amongst the two. The best way to explain the difference is this – health insurance is for the illnesses you suffer while you are alive, whereas, life insurance is not meant for you. It is a cover and assurance for your family in case of your demise. So it’s best you have health and life insurance both. Some even offer combined plans – you could also opt for those.

Home insurance

Home insurance:

The extensive expenses which you can encounter in case of damage to your home because of fire or any other natural disaster are unimaginable. Even part burn in the wall will require you to do up the entire wall. This is the nature of damage when it comes to homes. So yes, having an insurance that will safeguard your home and all the assets therein is essential.

There you go – the necessary insurances which each one must have – you need not sign up for it all at once, but yes, you can quickly sort your priorities and sign up for them as per your convenience.