6 Top Tips to Choose the Best Health Insurance Policies in India?
To avoid paying an enormous amount to cover medical expenses for you or your family members is the principal purpose for anyone to buy a good insurance policy for health. If you wish to seek treatment for an illness that necessitates hospitalization or expensive procedures, the health insurance company will cover those costs. Although awareness for insurance policies in India isn’t high, the recent outbreak has brought a lot of attention and a lot of people have started searching for how to choose health insurance in India since it provides a lifeline for many families during these difficult times.
6 Tips How to Choose the Best Health Insurance Plans in India?
We are listing 6 important tips that will help you to understand how to choose the best insurance in India as mentioned below:-
- Know your health requirements
- Choose the best coverage value
- Compare the features of policies
- Strong hospital network
- Check for policy inclusions and exclusions
- Choose a trustworthy insurer
1. Know your health requirements
Being aware of your health needs and what you need will be the initial step should you decide to purchase a health insurance policy. Do you need an individual insurance plan or a family floater plan that covers your whole family? Are you in search of health insurance for critical illnesses which cover the most serious? You must have the right answers to these questions since they help you to decide the most appropriate plan that meets your needs.
For example, if you opt for an individual insurance plan such as an individual plan, your health history, age as well as any pre-existing illnesses will be taken into consideration to calculate the premium. Similarly, if you are looking for an insurance policy for the entire family, including spouse, self as well as children, and parents, then the premium calculation is according to the medical condition and age of the most senior member of the family. This means that you should be aware of their medical condition before getting a good deal on premiums of health policies.
2. Choose the best coverage value
The best health insurance plan should offer you all-around protection against common illnesses for a reasonable premium. Decide on the best amount of coverage, so that it gives the greatest overall protection to all those who are covered by the policy. Do not limit the coverage value to save on policy premium, since a health cover of low coverage is equal to no coverage.
Let’s suppose that the cost to treat a specific ailment would be Rs.5 lakhs in 2020. A similar treatment could cost about 10 lakhs in 2030 based on the rise in costs for medical treatment, and so on. To be prepared for the possibility of such an emergency it is essential to consider these costs for the future.
3. Compare the features of policies
Before jumping into purchasing a policy be sure to conduct some research by checking out health insurance comparison websites. They give you comprehensive information on the benefits of each health insurance plan offered by health insurance firms along with their premiums. This will allow you to compare all policies in one place and then eliminate the ones that aren’t in line with your budget. Once you’ve selected a few options You can also go to the websites of these insurance companies and request a personalized quote to make your final decision.
4. Strong hospital network
The best health insurance policy has tie-ups with a broad variety of hospitals so that you can get a treatment that can be cashless. Each insurance company has its preferred hospital list, but the one that can provide the flexibility you need is the one you should select.
If you choose a health cover from an insurer with an inadequate network of hospitals one might have to move from one hospital to the next to locate a proper one that has cashless services. This could increase the burden on you and your family members during emotional times. Additionally, receiving treatment from an accredited hospital can also assist you to recover quickly, thanks to their devoted assistance.
5. Check for policy inclusions and exclusions
When purchasing health insurance, it is crucial to check the list of the exclusions and inclusions that the insurance company provides. The most fundamental inclusions included in health insurance plans include hospitalizations – both pre and post-hospitalization medical check-ups, health checks, expenses, ambulance costs, and so on. HIV, STDs, cosmetic procedures, eye, and dental treatments, etc., are generally classified as exclusions and are listed as exclusions by the insurer. If you suffer from any prior illness, be sure your health insurance policy covers that particular condition, or else you may end up with a policy that doesn’t cover the illnesses that you may have.
6. Choose a trustworthy insurer
If you are deciding to purchase medical insurance, be sure to look through the site of the company and read the policy`s terms and conditions on your own. Check to see if the business is trustworthy and if their claim settlement ratio falls within the prescribed parameters if their customer service is responsive, and what is the feedback from customers about their services, etc. Also, you can check out their social media accounts to gain a better understanding and understand the general perception of the insurer and what they offer and plans, as well as their service quality and claims, etc.
Considering the need to maintain a proper and healthy lifestyle, everyone must invest in the upkeep of their health especially at a time of pandemic spread. For a little premium every year, you are assured of top-notch healthcare facilities for yourself and your loved ones, at a time of dire need. The above tips will help you identify the right policy if you are looking at how to choose an insurance plan. Following those, you may visit many other websites which offer comparisons of health insurance plans in one place, to get an exhaustive overview of each policy. Describe your requirements according to your life stage, shortlist from the available options and finally, select the one policy that meets your requirements as per the discussed parameters.