• It is important that a person should emphasise and focus on getting the major load covered instead of trying to get many more items included. Try getting an insurance that will cover the larger expenses instead of the smaller ones.
  
  
• In health insurance policies it is more important to understand the exclusions and the inclusions in a health insurance product, which are not always clearly mentioned or described in the policy.

It is desirable to look for the basics and cut out the frills. Nowadays, many insurance firms are offering free vouchers to lure customers. But, a customer should study the product well because there are chances the insurance company may reduce the cover or hike the premium.

• It is always recommended that health insurance should be opted for at a young age and it should be ensured that policies are renewed without any break. This will result in the insured person getting the best deal in terms of premiums as well as policy coverage
• Even if your employer has provided you with health insurance, you can’t afford to rely on the same. Hence, make sure you buy one individually because if you change your organisation, you need a back up. “In case you decide to change job, you are likely to be without an insurance cover till the time your new employer’s health insurance cover becomes effective. Also you will lose any accrued health insurance benefits like waiting periods, etc from your previous insurance cover,” says Dr Damien Marmion, CEO, Max Bupa Health Insurance.
  
  
• The younger you are more your choice. “Usually at a younger age, a person has less ailments or almost no pre-existing diseases that keep the premiums low and affordable. In addition if the insured makes no claims in a particular year, a 5% no claim bonus subject to a maximum of 50% of his total sum assured gets credited to him,” says Raunak Roongta, an independent financial planer in Mumbai.
  
  
• One should know the company from which he is buying the insurance because it helps in keeping a track record of that company in terms of customer service either within India or globally and also the claims paid.

Source: [dnaindia]