Medical exigencies can arise at any time without a prior warning. Thus, having a financial cushion to deal with healthcare issues becomes all the more important. A health insurance plan can help you afford the treatment you need when you require it the most. Now, to make the most of health insurance, you need to select the right plan. To help you out, here are some things to consider while buying health insurance.
Points to Consider While Buying Health Insurance
Type of Health Insurance Plan: Today, you can select from various kinds of health insurance plans available in the market. For instance, you can choose between an individual or family health insurance plan. While an individual plan covers a single person, the family plan has one sum insured that is shared by various members of the family. You can also increase your coverage with the help of riders such as critical illness cover or personal accident cover.
Sum Insured: With modern medicine, healthcare expenses are skyrocketing. Thus, selecting a health insurance policy that offers an adequate coverage amount is vital. Ideally, you must choose a health insurance policy that suffices as per your medical condition. The sum insured should be enough to cover the costs of hospital treatment costs in your city. Do make sure to opt for a higher sum insured if you are taking a family floater plan that will cover several members of your family.
Cashless Treatment Network: While selecting health insurance plans, check the cashless network of hospitals offered by your insurer. With cashless facility, you don’t have to worry about arranging large sums of money for treatment as bills are settled directly between the hospital and insurance company. Make sure that the cashless network hospitals are situated close to your home. It’s one of the most important things to consider before buying health insurance.
Claim Process: When dealing with medical emergencies, you do not want to go through a claim process that requires too much of your time and energy. Thus, it is better to opt for a health plan that has a hassle–free claims process. You can learn more about the insurer’s claims process by reading their website or by seeing reviews of other customers.
Affordability: Keep an eye on the cost of the health insurance plan that you select. It will not be advisable to choose the most expensive plan with extensive coverage if the premiums are unaffordable. Choose a plan that fits your budget so that you can keep renewing it and enjoy the protection it brings.
Now that you know these points to remember while buying health insurance, you can make a wise choice and get coverage that brings peace of mind.
Access to the best medical treatment during an illness is the most important thing, and so, a health insurance policy becomes vital. With leading insurers, you can get coverage for your entire family, ensuring that your medical needs are taken care of. Make sure that your health plan includes pre–and–post–hospitalisation expenses and offers AYUSH coverage too. You can also enjoy tax exemptions under Section 80D of the Income Tax Act, 1961.
Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.