Your guide to buying individual health insurance

Cover foto

Choosing the right health insurance can be complicated and time-consuming. Nevertheless, it is important, and you should make sure, that the policy suits your needs. When choosing suitable insurance, people often make the following mistakes:

– I choose the same insurance as my family member.

– Decision-making is based on asking friends and colleagues about their health insurance.

– The choice of health insurance is based on published online comparisons. 

How to Choose the Best Health Insurance for me?

Let’s take a look at the criteria above to see how they help you decide: 

I choose specific health insurance because a family member is insured there too.

Especially if a family member is satisfied with specific health insurance, it probably makes sense at first to choose the same insurance. But you should be careful. It is very likely to have different benefits in the contract compared to current conditions. The conditions of your contract can be different in the event of a claim, although you have the same provider. Therefore, you should make an independent health insurance comparison to check the level of benefits. 

Most of my friends choose Insurance X. That’s why I choose the same insurance.

If any friends or colleagues pick specific health insurance, it can’t be wrong to decide on this private health insurance too. This procedure saves time and effort in dealing with the complex topic of health insurance. However, with private health insurance, each situation is individual. Everyone has different needs and ideas about the benefits of health insurance. The contributions can vary due to certain pre-existing conditions. Policy deficits are often in the small print of the terms and conditions and are difficult to understand. In the case of expensive services, there are sometimes severe differences in the contracts. Therefore, we suggest: Get a picture of the contract terms with the individual advantages and disadvantages of the tariffs and make a decision based on them. After you got an overview of the different conditions, you will notice that your friends do not know their insurance conditions down to the last detail. Therefore, it is not advisable to make a decision solely based on the recommendation of others, especially since everyone has different needs and ideas about insurance coverage.

“I took my insurance with the test winner.”

Tests often have a good reputation and a certain amount of trust. In general, it is advisable to use them as an additional tool for decision-making. However, choosing suitable health insurance based purely on test results is risky. First of all, which test winner do you trust? There are countless tests for health insurance and the winners vary from test to test. Each test has a different base for assessing the tariffs. Therefore, it is highly unlikely, that a test winner will match your individual needs. In addition, often only the basic tariffs are tested. Crucial information is accordingly left out and your state of health is not taken into account in such tests. So, it’s possible that the test winner, due to a pre-existing condition, demands a risk premium that is very high in the market comparison and therefore uninteresting for you in the individual evaluation. Also, keep in mind that commercial companies execute most of these tests. That’s why you should look very closely at the basics of the test.

The choice of suitable health insurance always depends on individual factors. We recommend that you first research independently which health insurance and conditions suit your current situation best. If you need further information, please don’t hesitate to contact us. We will be happy to answer all your questions and help you find the most suitable insurance package for you.

#insurancebroker #investments #healthcare #healthinsurance #coverage #budgeting #financing #onabudget #expatliving #expatlife #healthcare #hospital #wellness  #pharmacy #doctors #health #healthyliving #nurselife #healthinsurance


Related Posts

travel Insurance and COVID-19 Coverage

The global Coronavirus pandemic is still not over. Many countries enrolled stricter entry requirements to ensure the safety of their people. In most Southeast Asian