Key Questions to Ask

Check out this infographic for a snapshot of the questions to ask when evaluating your coverage.

Ask yourself:

How much insurance coverage do I need? Am I already covered for the same thing under another health insurance policy? If I am covered as part of my employment benefits, what happens if I leave my job? How much should I buy if I have a budget? Can I afford the premiums over the long term?

Ask the person you are dealing with:

  • What kind of health insurance policy do you recommend and why? What if I already have Medishield?
  • What will the policy cover? What kind of benefits does it have and how will these meet my needs? What limitations, say exclusions, deductibles and co-insurance and claim or benefit limits, waiting or deferred periods, will apply? What kind of conditions, treatments, or expenses are not covered?
  • How much will my health insurance cost me? How often will the premium be charged and will it be a fixed amount or can the insurance company change my premiums every year?
  • Will my policy be renewed automatically? What is the penalty if I do not pay my premiums on time?
  • When, or in what circumstances, will my health insurance policy end?
  • How will my future premiums or my policy be affected after I have made a claim?
  • What happens if my financial needs or personal circumstances change e.g. I am retrenched or retire early? What options are there for me?

If you are uncomfortable with the recommendation or want to know what else is available, do ask your insurance agent or financial adviser representative. You should also shop around to see what other insurers are offering and then compare the different plans.