Buying health insurance online: Fine print

In the first part of the story, we started off by comparing premiums, etc. Now, let's continue further. Look at the fine print Insurance is one financial product that has a history of surprising its buyers right at the time when they need it the most. Do not ever buy a health-insurance plan without going through the fine print. Of course, going through each and every word of the lengthy terms and conditions can be pretty gruelling but you must check and confirm the following crucial points. Visit the insurer's website and you will find the policy wording in the 'Downloads' section. If not, ask the insurer's customer-care team to help you with the written document. Don't settle for verbal information. Once you get the document, which is usually in the PDF format, look for the following keywords (written in blue). Thanks to technology! Just pressing two buttons (Ctrl+F) can save a lot of time. Sub-limits: Some of the most common sub-limits that are often present are a cap on the room rent, ICU charges and doctor's fees. For example, an insurance plan with this clause normally limits the room rent to 1 per cent and the ICU charges to 2 per cent of the total sum insured. So, if someone has a health-insurance cover of Rs 5 lakh, with such a claus

This article was originally published on March 01, 2022.