It's a good thing to have a medical or health insurance policy. It's great to pay your rates as and when due. It's also soothing to know that your insurer is a reliable entity you can trust. However, it's a lot more important that you ensure your policy has features that will give the value you deserve. Why pay for stuff that leaves you inadequately covered? Here are a few things to insist on...

1. Make sure your medical insurance policy includes world-wide non-emergency coverage. The only people who this shouldn't bother are those who've vowed never to step out of their countries. But if you do intend to ever go on vacation abroad, you'll do well to ensure your health insurance plan will still cover you medical expenses there.

2. Make sure your policy has no coverage limits. Where this is NOT possible, look for one with a very high coverage limit. $1 million is a good limit per claim. And for lifetime coverage limits, look for something as high as $2 million. Remember, although you may pay a lot less for policies that offer very low coverage limits, you might be putting yourself or family in a financial mess if you ever need medical care that far exceeds that limit.

If you're one of those folks who rarely fall ill, then you might just go for a catastrophic health insurance policy. This policy kicks in when you have catastrophic health conditions that could literally render a person destitute. The cost per $100,000 coverage is quite low when compared with regular policies. And at the same time, you have the peace of mind that you are covered whatever happens.

3. It's also a good idea to ensure you can see whichever specialist you need to see without a referral. Yes, this will mean you will pay more but would you rather have to beg to see the right specialist if you or yours have a serious health condition that requires specialist and urgent attention?

These features will definitely mean higher rates. But do you know that you can still pay a lot less? All you have to do is get and compare many quotes from a wide range of insurers.

Different insurers have different loss histories and underwriting criteria and these affect rates you get. Therefore, good comparison shopping ensures that you find an insurer that has the best rates for your profile.



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