While purchasing anything, we compare and shop around for it a lot. We go around places and people in search for something which is more apt to our needs and less expensive to our pockets.
And while investing for healthcare and life essentials, this question becomes a matter of concern.
To help you make an informed decision and for you to understand the nitty-gritty of health insurance in India, this article can be your guiding light. Precisely, it will talk about the important aspects of health insurance comparison in our country:
This will walk you through these key points to look for while comparing health insurance plans in India:
Pre/Post Hospitalization Costs Should be Covered
Look for a high Cumulative bonus
Free Medical Check-up
Insurer with High Claim-settlement Ratio
Even Alternative Treatment Methods Should be Covered
Opt for a Family Floater Health Insurance Policy Instead
Understanding them Further:
- Claim Process
God-forbid you ever need to make a health insurance claim, but if you do, then it should be least time-consuming and more simpler in every aspect. Look for a policy that endows such conduct to you. It will be helpful to your cause and would be apt for the purpose.
- Network hospitals
When the term “Network Hospitals” strikes your eyes, look for a policy with the most number of them. These network hospitals allow a cashless facility, once you avail their services, the bill is settled directly with the insurer by them. Making it more convenient for you in a time when you need it the most.
- Maternity benefits
Pregnancy costs are higher than ever these days, and health insurance for a woman should always have better maternity benefits in terms of a short waiting period and easy expenditure reimbursement. With such a policy, you can make sure that your birth pangs go easy on your finances as well.
- Pre/Post Hospitalization Costs Should be Covered
You should always check if the pre/post hospitalisation expenses are covered in your policy as well. A medical emergency does not cost you a fortune while you’re hospitalised, but in the months after it as well. Post hospitalisation medics and bills can take a toll on your finances, and a policy that covers these expenses would ease it up to great extents.
- Look for a high Cumulative bonus
Cumulative bonuses are added to the sum assured if you do not make even a single claim in a year. This bonus is carried forward every year and is added to your assured amount simultaneously. So opting for a policy that has a higher amount as a cumulative bonus can be helpful in such things. An added incentive for keeping up a healthy lifestyle is always a good thing to ask.
- Lifetime Renewal
A health insurance renewal can be expensive in some cases, for a larger sum of money assured, the renewal would cost more. So look for a policy that offers lifetime renewal at affordable prices. The premium amount may be more than a conventional one, but this wouldn’t be a bad bargain in the end.
- Free Medical Check-up
Opt for a policy that provides yearly medical check-ups, this will help you maintain a graph of your overall health and the areas which need attention. This health check-up would not affect the renewal amount but would be beneficial in understanding your current healthiness quotient.
- The insurer with High Claim-settlement Ratio
Always look for an insurer with the highest claim-settlement ratio. Such insurance providers are more helpful in a medical emergency. Emergencies are untimely and uninvited, such a prompt and convenient support system would prove useful in such times.
- Even Alternative Treatment Methods Should be Covered
At times and for specific individuals, the conventional ways of medical care or allopathy do not help substantially. In such times, an alternative approach can be helpful enough. So a policy that covers unconventional treatment methods as well should be given more priority.
- Opt for a Family Floater Health Insurance Policy Instead
Individual health insurances can be expensive, alternatively, a collated plan for the whole family is the answer to this question. A Family Floater Health Insurance Policy is something to look for in such situations. Such kind of health insurances provide a complete healthcare package for the whole of your family for an affordable cost. Additionally, this helps you save more on the income tax front as well.
So a healthcare policy should be content with the above-stated points and details. With these points in your healthcare plan, you can be certain of a smooth sail through medical emergencies.
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