5 Things to Consider When Buying Health Insurance

5 Things to Consider When Buying Health Insurance

It is crucial to have health insurance cover, now more than ever. But as you move forward with the decision to secure your health and those of your loved ones, it is important to know what you need to consider before signing off on the deal.

So what are the crucial considerations when buying health insurance? These five things will help you gather facts on your cover to make an informed decision confidently.

1. Who do you Want to be Covered?

Who do you want to be insured? Is this an individual or a family floater policy? Consider the family plan if you wish to have all members of your family covered. Different insurance firms will offer you different policies based on age limits and other family dynamics.

If you want health insurance for other individuals such as your parents, we recommend going with an individual cover. Most providers make it hectic to include such dependents in your current plan.

2. Maximum Insured sum

Sum insured is the maximum limit your health insurance will pay for medical expenses under your policy. Hospital bills might go over the roof, especially when the patient requires special care. Therefore, it is essential to consider the sum insured offered by your health insurance on your preferred policy.

It is common to overlook this vital aspect and suffer from debts and hefty medical bills later. Ask your health insurance provider to calculate the actual annual sum up for every member in your policy to make sure you can comfortably co-insure.

The sum insured might be affected by factors such as the type of plan you have selected, the number of members covered, the health history of the individuals insured, your income, and your current health insurance coverage.

3. Health Benefits Offered

Health insurance is more than just the financial support offered when the beneficiary is sick. Critically analyze what other benefits you get for your general welfare. This could include free annual checkups, gym membership, and more. Recently, many health insurance firms have been keenly interested in supporting healthy lifestyles to reduce the health risk connected to such.

Carefully compare different firms and policies to get a feel of the various benefits before settling on specific health coverage. You will be surprised how wide and lucrative these deals can be.

4. Waiting Period

This is usually the time between when an insurance plan is signed and when you can start enjoying some or all of the benefits.

It is important to understand how your policy meets your needs for pre-existing conditions, accidental hospitalization, and slow growth ailments. Some insurance plans dictate months or years waiting periods on some of the above conditions.

Luckily, most insurance companies have recently developed policies with zero-day waiting periods. Consider taking advantage of such opportunities to save you from additional health care expenses.

5. Insurance Network Coverage

How huge is the health policy network? Make a point of requesting a catalog of the hospitals and doctors covered within your preferred policy. It is always better if the network of hospitals is extensive and inclusive of different specialists. This way, you won’t need an additional health cover or spend more on consultation for an out-of-network doctor.

Additionally, enroll in a cover that allows you to maintain your existing network of hospitals and doctors. With a well spread out system, you easily avoid the hassle of following up on reimbursements and spending extra on treatment, yet you have an insurance cover.


Buying health insurance is a crucial investment that needs you to make wise decisions at every step. Always consider your preferred provider’s successful claim settlement ratio. We would not want you to have a well-drafted policy that does not actualize.

Need help picking the best insurance plan for you and your loved ones? Contact the M-TIBA team here: https://mtiba.com/go/


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