A good insurance cover can save your life and bank account. Thinking of possible instances in which you might need medical cover makes health insurance important, but also confusing. Moreover, insurance companies offer different prices to cover certain situations and cases.
There is a struggle to understand the stringent terms and conditions they hide to give them an edge over the market they have little or no control over. Here are some invaluable tips that will help you get the very best out of your health insurance purchase.
Leverage any available bonuses or waivers
Government or company sponsored health insurance plans tend to cut you some slack. Your employer or government will chip in and foot a portion of the bill; you get a better cover without paying hefty premiums. You should only forfeit such an offer if it has a messy history full of negligence and fraud.
Hunt for any loopholes in the TAC
By going through the terms and conditions, you not only prepare yourself for hidden surprises, but also get a chance to compare different policies. Find loopholes such as lucrative terms of a given Hong Kong health insurance policy that do not exist in others on the market. While these are not necessarily problematic, ask for more information about them to be certain.
Buy with the worst-case scenario in mind
Getting an affordable cover if you have a chronic condition or an eye problem is troublesome. Does this mean that you should ignore these conditions to lower the bill? Experts don’t think so. Hong Kong health insurance providers like PacificPrime.hk offer optional coverage benefits on top of individual healthcare insurances to prepare for the unexpected.
Being honest and getting a cover that will take care of prevalent health problems is better than making rash trade-offs in favour of the premiums.
Buying insurance could easily pass as one of the most complicated things you might have to do. Understanding your needs and the terms and conditions, however, should make the process simpler and more bearable.