If you are planning to buy a health insurance policy sometime soon, you need to know that it is one of the best things you are going to do. The majority of people in India consider health insurance a ‘not so important’ investment. They only understand its importance when they are admitted to the hospital and the stress of increasing medical bills starts bothering them. If we buy a health insurance plan at the earliest in our life, it can save us a lot of money. Apart from being hospitalized, you can save money on doctor’s consultations also if you have a health insurance plan.
Nevertheless, while you are already looking out for one such plan, you need to find only the best health insurance policy. Here are some of the tips that will help you to find the ideal health insurance policy that suits your needs.
You must opt for a health insurance plan that provides you security against various ranges of medical issues, and also provides benefits such as pre and post-hospitalization, transportation, daycare expenses, and illnesses that you may be at risk because of the medical history of your family. If you are purchasing a health insurance plan for your family, you should check if the plan fulfills the requirements of all the members of your family. Therefore, you must compare as many plans as possible, consider your and your family’s needs, check the costs, and accordingly choose a plan.
Buying a health insurance plan is as important as saving money in your bank account; however, it is also significant that the plan does not make holes in your pocket. Every individual and every family has a certain budget. It is always prudent to buy a health insurance plan that suits one’s budget. Therefore, you first need to decide the benefits that you need and then check the price of the plans. And then you should look for plans within your budget, which also provide you with maximum benefits. As the years pass by and your income rises, you will be able to review your plan and also increase the cover as per your family size and needs.
Choose a family floater over individual health plans
If you do not have a family yet that you have to support, you can go for an individual plan. On the other hand, if you are a family person and they all need the benefits of health insurance plans, you better go for a family floater health insurance plan. Also, when you buy a family floater, each of your family members will be covered and you do not need to buy an individual health insurance plan for each of them. It will only save you a lot of money.
A plan with lifetime renewability
As you purchase a health insurance plan, you must check the number of years that the plan will provide you coverage. You should also check if the plan offers limited renewability or not. This is important to do since a health insurance plan is mostly needed at a later age. Therefore, make sure you go for a health insurance plan that offers lifetime renewability.
Network hospital coverage
As you shortlist the health insurance plans, you must check whether they have your preferred hospitals included in their hospital network or not. You must go for an insurance company that offers a wide network of hospitals not only across the country but the world.
Claim Settlement Ratio
Checking the Claim Settlement Ratio is very important as this will give you an idea of whether you will get your claims settled or not. Always choose an insurance company that has a higher health Claim Settlement Ratio.
And as health insurance policies are concerned, you can choose one by visiting the website of IIFL.