Be careful about 5 things while buying Health Insurance Online
Rohan (27-years-old) works as an assistant manager in a private company at Baroda. Rohan didn’t purchase any health insurance policy for himself, but unfortunately, he was infected with the COVID-19 in 2020. He was having some breathing difficulties, so he was admitted to a super specialty hospital. After combating the COVID-19, the hospital handed over a medical bill of Rs. 2 lakh once he was discharged. Since he didn’t have any health insurance policy, he paid the entire amount from his pocket. Rs.2 lakh was quite a hefty amount, and it completely soaked his savings. At that time, Rohan realized he should purchase a general and health insurance plan from an eminent insurer.
Rohan was skeptical about visiting the office of the insurer because of this ongoing pandemic. So, he thought of purchasing a health insurance policy online that will give you adequate coverage against various illnesses. But he was doubtful whether it would be a prudent decision to buy a health insurance policy online or not. Rohan and many people believe that the risks are higher while they are buying health insurance policies online.
Purchasing health insurance policies online, people might get confused with some fallacies on scams, issues in claim settlements, and so on. But in reality, there are no drawbacks to online purchases. The online purchasing process is more convenient, hassle-free, and saves a chunk of time and paperwork. Moreover, the online process is a no-contact process, and that’s why people should prefer online purchasing during this ongoing pandemic.
These days, with a few clicks, you can purchase both general and health insurance policies like Axis bank health plan, 1 crore life insurance SBI, and many more.
If you want to purchase health insurance policies online, you should consider certain things so that you can’t commit any mistake while choosing the best health policy for your needs and requirements.
Check the cashless network hospitals of your insurer
Always opt for a cashless health insurance plan during an emergency as it gives you relief from arranging money under a healthcare emergency. With a cashless facility, you can get hospitalized and get the best treatment from network hospitals without stretching your finances. In addition, cashless coverage networks are convenient, faster, and hassle-free. Thus, select a health insurance provider that is tied up with large network hospitals so that you can get the maximum benefits. This might save your time while you look for the hospitals that will accept your health insurance plan.
Take a deeper look at the claim settlement process
Choose an insurer that offers a facile and simplified claim settlement process when you initiate a claim process after getting discharged from the hospital.
A good insurer always offers the best support service during an insurance claim. Many reputed insurers have dedicated care managers for every member who is the sole point of contact for the claims process. Now, you don’t need to worry about your finances; instead, you should focus on your treatment.
Check the option for lower premiums.
These days, many insurers are offering lower health insurance premiums through deductibles. A deductible is a tiny amount that an insurer needs to pay from his/her pocket in the case of a hospitalization. For example, if your health insurance plan comes with a deductible of Rs 35,000 and if your hospital bill is Rs. 1 Lakh, then you need to pay the first Rs. 35000 from your pocket.
Nowadays, many people opt for a deductible that is an excellent option as it lessens your premiums strikingly. For example, if your health insurance plan offers a deductible, then you can minimize your premiums by almost 70-75%. Furthermore, you can pay these deductibles with another health insurance policy or financing options.
Does your policy have adequate coverage?
When you are purchasing health insurance online, human interaction is negligible. Thus, you should check the policy details to be aware of all the coverage you are getting from your health plan. Also, check all inclusions and exclusions so that you can understand what your policy covers or doesn’t.
Coverage capping is included for the below-mentioned features, so pay extra attention to these.
- Room rent charges
- Diseases covered
- Diagnosis fees
- Treatment packages
- Doctor visits and Nurses’ fees
- In-patient/Out-patient care
- Ambulance costs
Most health insurance policies (both individual and floater) include these features. But usually, insurance companies add a cap of how much the policy plan will cover each case.
Check whether your policy plan includes any wellness benefits or not
Though many health insurance policies offer a plethora of wellness benefits, these benefits are not useful for policyholders. Very often, these benefits also enhance the premiums. Policyholders should understand that health expenses nowadays may go beyond hospitalizations, and everyone should also prepare for regular expenses. Over the past few years, both health and wellness expenses have become extortionate. If your health insurance policy offers daily wellness needs, then you may save a humongous amount every year.
This digitalized era has motivated many businesses to focus on the online platform, and the same goes for the health insurance industry. The internet is the pivotal resource for todays’ customers. Now, you are completely free to check reviews, workings, and payment histories of various insurance companies before selecting the health insurance plan online.
Which Health Insurance is best in India?
If you are confused about this question, you must be astonished to know that many insurance companies offer online health insurance plans for your healthcare needs. So, just research a little bit more before committing to a plan. The first plan you choose may not be the best one. So, take a deep dive and find something more suitable that will meet all your healthcare needs.
Purchasing an insurance plan online is an instantaneous and convenient process. Follow the above article and choose the best policy for your healthcare requirements.