How to make comparative study between two Insurance plans?

Question

How to make comparative study between two Insurance plans?

Answer 1

When comparing two health plans, you should look at the following and compare:

Price

Deductible

co-insurance

maximum out of pocket

copay

network (are your doctors in the network)

Answer 2

Well.. if u r a customer, prioratise ur needs.

eg;

1.What u need frm ur policy? (Protection, Wealth creation or both)

2.How long u need life cover and How much?

3.When u need money to attain ur financial goal?

4.How long U can Pay?

Then see the following features...

*What is the Min & max Sum Assured for a given premium?

*What is the Benefit Term (coverage period) and Premium payment term ?

*Is the product offering investmnt options (funds) which suits ur risk apetite?

*What is the death benefit and maturity benefit?

*Can additional protection options like Critical illness riders can be added?

*What'll happen if u have to surrender the policy before the end of term (surrender charges & conditions)?

*What about the other flexibilities (partial withdrawal, top up, fund switching, change of premium)?

[e-mail]