Best Health Insurance Plans you must select for you and your family. India has never been a market for health Insurance policies in the past. But that trend has been changing with time. The rise in the cost of medical procedures and hospitalization has forced the Indian consumer to depend on Health Insurance. Previously healthcare was not a cause of concern as it was affordable to the common man. Medical issues are such that you can never plan for them it happens when least expected. So, it is always better to have a good Medical Policy as a backup.
Tips to select the Best Health Insurance Plans
Coverage Amount: It is always best to take the maximum coverage amount as it will ensure that you do not have to pay anything from your pocket in case of hospitalization. Typically 2.5 lakhs is the minimum that one should ensure their selves for. Depending upon the capacity to pay the premium that amount can be increased
Family Floater: If you are single it doesn’t matter but there are policies that cover your parents as well. Do a little bit of research before you choose the right one. If you are married and have a family it is obvious that you will choose a plan that covers your family as well especially your wife if you don’t have kids.
Inclusion of pre-existing diseases: Many plans offer to cover preexisting diseases right from the day of coverage but premiums for that could be significantly high. But there are other plans that cover Pre-existing diseases after 2 or three years. Look out for this if you are suffering from any long-term illnesses like BP, Diabetes, Asthma etc.
Selecting the right Health Insurance will ensure you don’t burn a hole in the pocket
Renewal Age: It is very highly unlikely that you will fall ill at an early age. But highly possible you will fall ill at a later stage in life so it is always better to associate with a Health Insurance Policy that covers you after the age of 70 or 75.
Claim Settlement ratio: It is always better to choose a company that has a high settlement ratio. So, the chances of your claim being rejected are very less. Most companies reject claims for the silliest reasons possible. So consider this point important as well.
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Cashless Hospitals: Check the network of the hospitals that the Insurance company is associated with. Ensure all the top hospitals in your city are linked. Also, check for the hospitals close to you as that is where you will most likely be admitted. This will ensure that you do not have to go through the process of paying the bills and then waiting for the claim to be settled. As in Cashless, you are only expected to pay for what is not covered or if limits are exceeded.
Exclusions: Many policies don’t cover certain types of disease look at what is excluded in the policy before you take it. Some also don’t cover expenses like a private room or have a cap to it
