Importance of Timely Reassessment of Family Medicare System

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A better alternative health insurance policy could give you more for your money

It is an undisputed fact that health insurance is an essential investment; more today than ever. Health distress due to the premature onset of lifestyle and serious illnesses as well as unprecedented viral epidemics have reinforced the importance of being and staying protected, to preserve health and finances. of our loved ones, through health insurance.

Simply purchasing a floating family health insurance policy is not enough. Our family dynamics change considerably over time. With this natural progression in life, the medical needs of our family are also undergoing substantial changes. Also, in some cases you are not happy with your current policy and want to explore better options. Therefore, we must periodically reconsider the attributes and benefits offered by our health insurance plans in order to ensure sufficient and extensive long-term coverage.

Benefits of a timely reassessment –

  1. Vast Blanket Insured Sum: Review the insured amount of your health insurance plan at critical stages in life. This will ensure sufficient coverage for all family members according to the revised medical requirements.

  2. Full coverage: Typically, health insurance plans have categories of coverage that are enhanced when you go for the higher variant. Increasing the insured amount of your health insurance policy could therefore allow you to obtain broader coverage for more medical conditions.

  3. Affordability: Re-evaluating your health insurance plan could also lead to a comparison with alternatives offering the same or better functionality at a lower premium.

  4. Better benefits: A better alternative health insurance policy could give you more bang for your buck through features like the No Claims Bonus, Reinstatement Allowance, and Family Discounts.

As with any other long-term financial investment, health insurance requires frequent evaluation to account for the growing and changing needs of your family members.

The author is Head – General Insurance, SANA Insurance Brokers

DISCLAIMER: Opinions expressed are those of the author and Outlook Money does not necessarily endorse them. Outlook Money will not be responsible for any damages caused to any person / organization directly or indirectly.

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