How to Buy Best Health Insurance Plan in India

Buying health insurance is the right step toward securing your family’s health and financial well-being. There are a lot of companies in India selling health insurance policies, and choosing one can get tricky, here are some factors you need to consider while buying health insurance.

Let’s think, about whether you need a family floater policy.

Individual health insurance covers only one person whereas, a family floater policy covers the entire family. The premium here may be higher but if a family member has a history of ailment, it is better to consider an individual plan.

Factors for Buying Health Insurance

Claim Settlement: Look for simple claim settlement procedures. The simpler a procedure is, the easier it is to settle claims. Claim settlement time and claim settlement ratios are some of the most important things you should look for while considering health insurance know the Latest incurred claim Ratio 2018-19 for all General Insurance companies in India.

Co-payment Clause: This states that the insured is to bear a certain percentage of the claim and then the insurance company will pay the rest of the claim amount. When you are seeking to buy a health policy, you must check the co-payment clause.

Selecting the Right Insurance Cover: A health insurance plan takes care of medical expenses throughout the year, one should carefully choose the right amount. The younger you are, the lower the premiums. You should consider the health-related aspects and their income level while choosing health insurance coverage.

Cashless Hospitalization: It is one of the most important factors to keep in mind while buying a health insurance plan. The health cover available can be cashless or reimbursement. When you hospitalize in one of the network hospitals, the insurance company will provide the cashless hospitalization cover, else you will get the reimbursement of the claim amount.

Daycare Procedures: The advancement in technology and medicine has allowed you to have procedures without being hospitalized for 24 hours. It is thus important for a policyholder to find out if his insurance covers daycare procedures.

Pre and Post Hospitalization Care: Medical care provided or the expenses incurred by the policyholder before/after the surgery is known as pre/post-hospitalization. The expenses incurred after the hospitalization, post-hospitalization care, and expenses incurred in medicines are usually not covered by the insurance. It is important to find out what your insurance pays for and for what it does not.

Free Medical Checkup and Renewal: Look for policies that provide for free medical checkups. This is helpful when the policy comes for renewal. You never know when you would fall ill or when something unfortunate will happen to you. Thus it is always better to be prepared rather than sorry. Most health insurances provide you with an option of lifetime renewability. There is a high chance that you fall ill as you get older as compared to your present.

Key Features of Health Insurance Policy

Post-Retirement Life – We work hard our whole life as a working people and by fulfilling everyone’s wishes throughout life, when a person moving towards retirement, it is not even known. As a human you get tired, you also have your dreams and you just want to take a rest and chill with your family in your retirement. A health insurance policy can make things easy and smooth for you, buying a health insurance policy will provide you with retirement benefits.

AYUSH Treatment – Many times it happens that our disease is difficult to cure, we try different types of treatment in many different places for curing the disease but you want that your insurance to cover the expenses of the whole treatment and this is how health insurance work. Under AYUSH treatment, you can get different types of treatment Ayurveda, Yoga, Unani, Siddha & Homeopathy as per your requirement or demand. According to the AYUSH, the person can get cover for any of these treatments which are the alternates of allopathic sciences.

Customize Coverage – When you buy a health insurance policy, you got some best benefits and some of the features are not so much interested, in such a situation, you want to exchange those features with your wishlist. Some of the features that you can add to your health insurance policy and those benefits become valuable for you. People are getting insured by two different health policies because they won’t get covered whole cover from one health policy. Buying  Health Insurance is one of the best options for you cause it protects you from certainties.

Family Protection Included – With a health insurance plan, you can insure yourself and your family too. The benefits of a health plan you can insure yourself individually and you can add members when you have a family.

Concluding Words

It is vital for women to buy health insurance as maternity benefits are soaring high with each day. It is important to check if your policy avails of maternity benefits.

There are a lot of insurance companies providing various health insurance policies, it is best to choose one after thorough research and being fully aware of the plans and benefits it offers. When you are buying a health insurance plan, you must customize it to suit your health care needs.