Q: I have frequent nasal problem and whenever I visit the doctors, they prescribe cheaper antibiotics. My ailment continues. What can I do in such circumstances? A: This is one of the major problems faced by some of the customers of medical insurance. But all insurance companies do not pressurize the hospitals to provide cheaper medicines. There are a few companies, which offer cheaper covers and in order to save the cost put pressure on doctors to prescribe cheaper medicines. Doctors avoid prescribing costly medicine because insurance companies often reject the bill citing illogical reasoning. Hence you should take up with your insurer and find out their policy in respect of branded medicines. Q: I am having a Rolls Royce Car and I use it sparingly and drive very carefully. I stay outside the Kingdom for more than four months. Is there anyway I can cut down on the cost of premium? A: In the Western countries a new system is being implemented to cut the cost of insurance. It is mainly dependent on the use of the vehicle. The same is not applied in this market. The most common mistake, the users of costly cars with little use do is to heavily under insure their vehicle. This will go against them in case of even a minor accident. I suggest you to insure your vehicle to the correct market value and get the rate discount on premium. This will reduce the cost in a right way rather than insuring the vehicle at a low value. Most of the insurers will be willing to reduce the premium rate on the vehicle which is sparingly used, if proper information is provided. Alternatively you may increase the deductible (excess) to reduce the cost of insurance. * Shujaath Ahmed Khan, an M.B.A., General Manager, Creative Associates is also a consultant and an expert in Insurance, Investments and Real Estate. He can be contacted at [email protected], website-www.creativeassociates.blogspot.com __
