4. Exclusions: Specific medical conditions or circumstances that are not covered under a medical insurance plan. Find out what is not covered to avoid surprises.
The list is not exhaustive, however, it covers the major aspects to consider when choosing a medical cover.
What should you consider when choosing a medical insurance product?
Courtesy of Taslimu Insurance Agency:
1. Waiting period: This is the time an insured must wait before some or all of their coverage comes into effect. Consider the policy with the shortest waiting period.
3. Co-pay: The set or fixed amount you are required to pay each time a particular medical service is used. Determine the co-pay levied in your desired plan.
Co-pay - The set or fixed amount you are required to pay each time a particular medical service is used. It is mostly levied on outpatient benefits.
Annual Limit – This is the maximum amount the insurance will pay during one year for a certain treatment or service.
Courtesy of Taslimu Insurance Agency:
THREAD: Common Medical Insurance Terms:
Pre – existing condition - A condition, disability or illness that you have been treated for before applying for medical coverage.
Waiting Period – The time an insured must wait before some or all of their coverage comes into effect. The insured may not receive benefits for claims filed during the waiting period.
The Pan-African Payments & Settlement System (PAPSS), facilitates intra-continental payments using local currencies. Should be widely adopted.
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