Medical insurance

Important matters to consider before taking out your medical insurance policy

1. Disclose fully and accurately all information in the application form. Ask the insurance agent to explain fully the implications of the questions contained in the application form. If in doubt as to whether a fact is material, it is better to disclose it.
2. Check personally whether all the relevant facts are included in the application form. Your signature on the form is taken as evidence that you are satisfied with the facts.
3. Make sure you understand the scope of coverage.
4. Read the policy, in particular any exclusion clauses.
5. Check whether there is a monetary limit placed on each item of claim, and whether there is any overall limit per year or per hospitalization.
6. Be aware of the percentage fixed for medical treatments, such as fees for surgery and anaesthesia.
7. Check whether you need to purchase additional coverage for other kinds of medical expenses, such as fees for bonesetters or herbalists.
8. Check whether the policy covers medical expenses in Mainland China. This depends on the geographical coverage areas stated in the policy.
9. Given the large number of insurers available in Hong Kong, you should consider obtaining several quotations for comparison before committing yourself to an insurance policy. You should look for insurance companies that provide good security, reputable claims service, reasonable prices and prompt documentation.