Guidelines for choosing Insurance Policies
It is wise to start investing early(esp when we are young and healthy)!!!Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss.
Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. An insurer is a company selling the insurance.
The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage
Some guidelines:
Familiarize yourself with your plan, noting any restrictions (e.g., prior referrals needed, limits on number of visits, deductibles, out-of-the-area coverage, co-payments, etc.).
Some insurance plans provide only emergency coverage for out-of-area care and/or require a prior referral from the primary care physician at home.
When selecting health insurance,
read about the plan so you know what to expect.
Take particular notice of the following:
1.Deductibles you need to meet before your insurance pays
2.Co-Payments
3.Restrictions/Exclusions in coverage
4.Specific limits of coverage
5.Out-of-area coverage
6.Prior approvals and referrals
7.Pre-existing conditions and waiting periods
8.Lifetime or per-occurrence maximums
9.Cost of the plan
posted by Fish
posted by Anonymous @ 2:58 AM
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