Medical costs have been increasing at an alarming rate throughout the world. It is becoming hard to avail the best medical attention at this present cost. But our endeavour of never compromising on the quality of medical attention we should get makes us shell out more and more from our pocket. Health insurance thus is a financial risk management tool whereby one is able to minimise the cost of medical attention.

As with any insurance, in Health insurance too one has the insurer and the insured playing their part. While the insured pays premium for the health insurance cover to the insurer; the insurer in return is obliged to pay the medical expenses if the insured gets sick. But there are some diseases for which the insurer is not to pay for the medical expenses. Such diseases that are excluded from the purview of the health insurance should be stated in the policy document.

The following are some of the questions that should be answered by you before choosing a health insurance.

• What does the insurer offer? What would be the monthly premium? Does the premium lessen on taking a group insurance (family insurance) rather than an individual health insurance?

• What does the health insurance cover? Does it cover costs incurred on home care, medical bills with or without prescription, out-of-hospital care etc? Is there a limit on the number of days the insurer will cover the payout for these services?

• Do you have any ailment at present for which you may not be covered with the insurance policy? What is the time period that you have to wait for taking advantage of the insurance cover?

• What are the diseases or incidents for which you cannot claim for the cover?

• What deductible is applicable in that particular health insurance?

• What percentage of the medical expenses you have to shell out from your own pocket?

• What would be total amount of premiums you have to pay during a year to avail that health insurance cover?

• Is there a maximum amount designated by the insurer on the insurance policy after which it would not pay?

• Do you have the freedom of choosing the hospital or doctor of your choice with the health insurance?

• Does the health insurance cover the medical expenses you incur in your travel outside your area or abroad?

• Can I upgrade or downgrade the level of health insurance cover?

If answers to all the above stated questions are satisfactory then only you should go for health or medical insurance of that particular policy.