According to the Bureau of Financial Entities, the insurers that offer the Major Medical Expenses Insurance product obtained an average rating of 6.78, in the period from January to September 2014.
The institutions that obtained the highest rating in the mentioned product were AXA Seguros with 8.8, followed by GNP Seguros with 7.82, and Seguros Interacciones with 7.74.
On the other hand, the insurers with the lowest rating and therefore failed were La Latino Seguros with 4.64, Allianz with 5.33, and Inbursa Seguros with 5.55.
Likewise, the insurer that obtained the most claims during the cited period was GNP Seguros with 159, with a claim index for every 10,000 claims of 18,263; MetLife follows with 135 claims and an index per 10,000 claims of 21,698, and later AXA Seguros is found with 133 claims and an index of 10,883.
GNP Seguros is the one with the highest number of fines, with 11 during the cited period and an average amount of 25 thousand 392 pesos per fine.
At the National Commission for the Protection and Defense of Financial Services Users (CONFUSED), we suggest that if you are going to take out medical expense insurance, it is important that you know the following concepts:
- Waiting period.- Period established in the policy, from the contracting of the insurance, during which the Insurer does not cover the expenses for medical attention or treatment of certain diseases or illnesses.
- Pre-existence.- Is the illness or condition that began before contracting the Medical Expenses Insurance and which, consequently, are not covered by the insurance.
- Deductible.- It is an amount of money from which the Insurer begins to pay the amount of the claim. The Insurer will not pay for accidents or illnesses whose care or treatment implies an amount less than the deductible.
- Coinsurance.- Most of the medical expenses insurance, in addition to the deductible, make the User solidarity with them by paying a part of the expenses, which is called coinsurance, therefore they become a coinsurer. The purpose of paying this amount is that the insurance is only used in the event of a really serious illness, but generally, the Insurer does not charge a deductible or coinsurance in the case of accidents.
Before contracting medical expenses insurance, CONDUSEF recommends that you take into account the following considerations:
- Compare before making any decision about hiring insurance for major medical expenses, it is best to have at least 3 different quotes.
- The best insurance that can be contracted is the one that covers our needs and is within the reach of our budget.
- Never sign any contract or document if you are not completely satisfied or if you do not understand the scope of the coverage offered to you.
- If you sign it, you should know that article 25 of the Law on the Insurance Contract, grants 30 days to present a disagreement and request the corresponding rectification or cancel it.
- Major Medical Expenses insurance is a useful and practical alternative, as it allows you to lighten the load when you have an unforeseen event, illness, and/or disability, for this reason, consider it as an Investment.
- Consult the Bureau of Financial Entities, compare options according to the claims, sanctions, and qualifications of the insurers that offer the product.
