Tips for Choosing a Family Insurance Plan

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• Tips for Choosing a Family Insurance Plan

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Introduction

• Choosing a family insurance policy is a crucial
  part of any long-term family plan. That being
  said, browsing through the myriad of policies
  being offered by various insurance companies can
  be a hugely daunting task
• Unfortunately, there is no one-stop solution for
  selecting an ideal health insurance plan
• Every plan will have its own pros and cons. What
  is important is that every member of your family
  is adequately covered against common medical
  expenses

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Contd

• To this end, most people do considerable research
  before even approaching an insurance agent.
• This is because knowledge is essential knowing
  the different options available to you, as well
  as what those options offers and whether you can
  afford them, can be the deciding factor in
  choosing the perfect plan
• To make this tedious process easier, we have
  listed some important points to keep in mind
  while choosing a health insurance plan for your
  family

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1) Check and Analyse Plans Provided by your
Employer

• More often than not, the health insurance plan
  provided by your employer will most likely be the
  most viable and affordable option. Some companies
  also provide a choice of different plans to
  choose from

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2) List Down the Top Differences

• Compare the benefits and coverage of factors such
  as monthly premium, deductibles, co-payments,
  co-insurance rates, costs for seeing
  out-of-network providers, preventive care,
  physical exams, vaccinations, etc.

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3) Check for Special Needs

• Certain families may require special services
  that are not provided by standard plans. For
  example, if you know that you and your partner
  are having trouble conceiving a child, you should
  opt for a plan that covers fertility services. If
  you are raising a special child, ensure that your
  plan has mental health coverage, nursing care,
  etc.

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4) Keep Asking Questions

• Do you need referrals for specialist visits?
• Are there any cashless hospitals that will
  provide treatment?
• What pre-existing medical conditions do you need
  to disclose?
• How bad is the paperwork to get emergency room
  treatment approved?
• At what age will your childrens cover expire?
• Keep any detailed list of all such questions and
  properly interrogate your agent

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