Are you looking for an affordable health insurance policy? The guide will help you in making the right choice
Health insurance refers to the group of insurance policies that provide financial protection to you and your family in case of illness and injury. The rising cost of healthcare and increasing lifestyle diseases have made it vital to buy a health insurance policy. There are different healthcare policies depending on coverage, including individual health plans, family floater plans, critical illness plans, group policies, and even traditional medicine treatment coverage. You can also purchase a comprehensive health insurance policy to get all-around benefits at affordable rates.
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The health insurance policy protects you and your family during a medical emergency. However, it is often difficult to choose the most affordable policy with complete coverage from the many available options. Read on to know what to look for in a health insurance policy before you purchase one.
Guide to choosing an affordable health insurance policy
Here are the things you must look for in your health insurance policy to ensure that you get the most affordable plan with maximum protection:
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- Identify the right coverage
Healthcare costs have started to skyrocket recently. Therefore, the first thing to look for in the health policy is coverage. Your plan must provide sufficient protection against your expenses without going significantly beyond the assured sum. Also, think about the coverage in terms of possibilities. For instance, if there is a known instance of a heart condition in your family, you are at higher risk of the same. Therefore, your plan must include heart conditions in its coverage.
- Check if the coverage is affordable as per your requirements
Your healthcare plan must be affordable while also covering all the essentials as per your needs. For example, suppose you are a senior citizen or have dependents who are seniors. In that case, a senior citizen health plan will be more suitable than a standard insurance policy due to comparatively better senior-citizen-specific coverage. Similarly, ensure that your plan has features you need or are likely to need, such as maternity benefits, emergency ambulance cover, daycare procedure coverage, etc.
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- Look for riders and keep it affordable
Health insurance policies often add specific riders to extend the coverage at minimal additional cost. You can add several riders to your insurance policy, including room rent waiver, hospital cash, maternity, personal accident, critical illness, etc. You can simply add these to a basic policy without purchasing separate plans to keep the overall expenses low.
- Opt for a family floater plan
Family floater policies provide health coverage for your family along with you. Therefore, you do not have to purchase separate individual policies for each family member. It keeps the insurance policy affordable.
- Check out the network hospitals and claim processes
If you opt for a cashless health policy, it is essential to check the network hospitals for your insurance provider. Also, check the claim process thoroughly to ensure that you are not caught unawares in case of an emergency.
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- Check the sum insured
Check the sum-insured value of your insurance policy to ensure that you are getting the most coverage out of the premiums you pay.
- Consider a comprehensive health insurance
Comprehensive health policies are all-rounded insurance plans that include the most commonly required and purchased covers by default. These can include pre-and post-hospitalisation covers, health checkups, ambulance cover, critical illness cover, organ donation charges, etc. Therefore, a comprehensive health policy makes it more affordable since you do not have to purchase them separately.
- Consider Arogya Sanjeevani Health Insurance
You can also consider the Arogya Sanjeevani policy. It is a standard indemnity health insurance policy providing health coverage to individuals and families of an insured sum up to Rs. 10 lakhs. This affordable health policy provides extensive coverage in case of medical treatment via allopathy and AYUSH. It also includes pre-and post-hospitalisation cover, ambulance charges, room rent, and other benefits.
Buying a health insurance policy involves thoroughly checking your requirements and the plan details before purchasing. Then, compare the plans offered by various insurance providers and buy the one most suited for you according to requirements and affordability.
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