Health insurance: what to check before you buy

Six things to check in any health policy

• Sum insured. The most the policy will pay in a year. Medical costs keep rising, so a very small amount may not be enough.
• Waiting periods. Illnesses you already have are usually covered only after a waiting period. Some treatments also have their own waiting period.
• Room rent limit. A cap on room rent can reduce the whole claim, not only the room part.
• Co-payment. Some plans make you pay a share of every claim.
• Network hospitals. Cashless treatment works at hospitals on the insurer's list. Check which hospitals near you are included.
• Exclusions. Read what is not covered, not only what is covered.

Individual plan or family floater?

An individual plan gives each person their own sum insured. A family floater shares one sum insured among everyone, which costs less but can run out sooner if two people are ill in the same year.

Buy early

Premiums are lower when you are younger, and you complete the waiting periods before you need them. Please tell the insurer honestly about any existing illness, because hiding it can lead to a rejected claim.

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