How to choose the best cashless mediclaim policy for your family?
In this digital-driven era, people are prone to hospitalization because of sedentary lifestyles and unwholesome food habits. These hospital expenses can create nightmares and drain out all the savings of a common man. With this unpredictability and high medical inflation rates, nowadays, people are more concerned about their financial securities. Thus, health insurance has become a necessity these days rather than an option. Therefore, everyone should choose the best health insurance policy to avoid financial burdens under medical emergencies. A comprehensive health insurance policy will meet all health-related requirements of policyholders, and thus, it plays a pivotal role in your financial planning.
What is a cashless mediclaim policy?
The cashless mediclaim facility is an intriguing feature of a health insurance plan. Cashless medical policy attracts customers the most because of its cashless facility. Under this cashless medical insurance facility, you don’t need to pay a single penny for your treatment at the time of hospitalization. The cashless mediclaim policy in India compensates for all your hospital expenditures. Still, you need to inform your insurance company at least 2-3 days before your treatment in the case of planned hospitalization. On the other hand, the insurer should be intimated within 24 hours of hospitalization under any emergency. The insurance company pays you if the total charges fall under the sum assured limit and if your selected hospital is impaneled with the insurance company as a network hospital. As medical inflation is rising exponentially thus, most Indian insurers embrace customers with cashless mediclaim in India policy with higher coverage limits.
The best cashless Mediclaim policy for families in India
These days, the markets are jam-packed with budget-friendly health insurance plans that offer a comprehensive range of facilities and benefits. Health insurance companies are trying to tempt customers with various intriguing various cashless mediclaims for family in India. While handpicking the best cashless mediclaim policy for your family members, you should prioritize those plans that have a wide range of network hospitals and an ISO-certified claim process.
All renowned insurance companies offer cashless Mediclaim facilities with at least 4000-6000 hospitals in India. Along with cashless hospitalization, the best cashless mediclaim policy for family also covers many more expenditures, including critical illness, lifelong renewal policies, maternity cover, daycare treatment procedures, vaccination in case of an animal bite, and much more. Most insurers usually approve a cashless mediclaim within 2-4 hours of hospitalization. Policyholders are blessed with additional features like an annual renewal facility, free health check-up for all insured members once a year, increased sum assured amount, etc. A cashless mediclaim facility is the utmost way by which you can protect your and your family’s health in the best possible way. You can search for the best cashless mediclaim policy in India from various online brokers’ sites.
5 Important tips for choosing the best cashless Mediclaim policy for family
- Know more about your insurance company
- Analyze your requirements
- Check which hospitals are covered under the cashless plan?
- Choose the right coverage amount
- Best mediclaim policy for family
1. Know more about your insurance company
Before opting for the best cashless mediclaim policy for family in India, you should thoroughly visit the profile of your insurer and acquire as much information about the same. Don’t forget to check the claim settlement plans of various companies and choose the best one after evaluating all of them. Check their reviews and go through the terms and conditions before making the final decision.
2. Analyze your requirements
Consider your requirements and needs before choosing the best cashless mediclaim for your family. All cashless policies have some restrictions that you should be aware of. For example, your insurance plan doesn’t cover the amount if it surpasses the limit. After analyzing your requirements and needs properly, you should choose the best plan that resonates with your needs and meets your budget. If you can evaluate your requirements, then you can also calculate your monthly premiums.
3. Check which hospitals are covered under the cashless plan?
Before selecting the best cashless medical policy for your family:
- Check the list of cashless hospitals covered under the policy plan.
- Go for plans that allow you to enjoy the cashless benefits with your nearby hospitals.
- Don’t forget to check if your selected policy offers a claim for pre-existing illnesses or not.
4. Choose the right coverage amount
While purchasing a cashless health insurance policy, choose a plan that offers you a cashless facility against the maximum number of health issues, including pre-and post-hospitalization cover, in-patient hospitalization, ambulance charges, daycare treatment charges, doctor’s consulting fees, ICU charges, and many more. In addition, while purchasing a family mediclaim policy, ensure that it caters to each family member’s healthcare needs and select the right coverage amount to protect you during an emergency adequately.
5. Best mediclaim policy for family
As an individual human being, you have some responsibilities and commitments towards your family members. It’s your prime responsibility to protect all your family members. These days, most insurers offer mediclaim policies for families that are specially designed to take care of your family’s needs. Apart from the benefits, the coverage cost and premiums should be checked properly. Go for an insurance premium that meets your budget without stretching your financial burden.
Important points to consider before purchasing a cashless mediclaim policy
- Know the preapproval time of the cashless policy before opting for a health insurance plan
- Know your sum assured amount under your health insurance plan
- The insurance company will only compensate for the amount that is covered under the plan. The additional amount you need to pay from your pocket
- Make a list of the documents that you need to submit, including the claim form to enjoy the cashless benefits
- Take a look at the list of network hospitals provided by your insurance company. Remember these network hospitals if you need to get admitted for your treatment
The bottom line is you need to be well aware of the health insurance providers and plans they offer along with the features like cashless claims. Further, you should carefully go through the terms and conditions of the policy you are choosing so that you choose the best one for yourself and your family. Therefore, this article gave you enough information regarding how to select the best cashless mediclaim policy for families in 2021. If you need more information on the cashless mediclaim policies in India, then you may visit iiflinsurance.com.