We work hard to keep ourselves in shape, but it’s also important to do a check-up on our all-important health insurance. Whether it’s assessing whether your existing policy meets your current needs or if you need to take out a policy for the first time, the team at Bupa Global has some advice on ensuring our insurance is on the right track.
Resolve to review
The needs for health protection change along with your personal and family needs and circumstances, just like your finances, so a regular review of your coverage is a good idea. To help you review your insurance needs, ask yourself the following questions:
• Is the current annual policy limit sufficient? (Bupa Global offers up to unlimited annual policy limits)
• What geographic coverage do I need? Will my travel patterns and frequency change or will I relocate? Options for geographic cover can include worldwide including or excluding the US.
• Is the coverage sufficient for other family members – for example, does the package include maternity?
• Do I need to be covered for pre-existing, mental, hereditary, congenital and chronic conditions?
• Do I plan to change jobs? Changing jobs may mean there is a possible period of having no employer-sponsored health coverage for a while. So having private medical insurance for you and your family can provide peace of mind.
New to insurance?
You’re never too young to start thinking about your health, and planning for the long term – health insurance isn’t just for the elderly. It’s impossible to predict when you might need healthcare and staying prepared is the best step you can take for yourself and your family. If you’re young and healthy, there are a range of wellness benefits and preventive treatments included in Bupa Global Health Plans to help you stay that way.
If you’re taking out insurance when you’re a bit older, or if you wait till you fall ill, the plan may exclude the sickness or require higher premiums to cover preexisting conditions, while premiums may also increase with age.
Whatever your age or needs, consider a packaged plan that is straightforward and hassle-free, and includes inpatient/ outpatient and preventive benefits. And, if you’re still unsure of what you need, or you’re ready to update your existing plan, you can always speak with an adviser.
Want more advice? Check out our Living in Hong Kong section!