Health insurance features
  • Why health insurance?
  • Comprehensive insurance features
  • Health insurance benefits
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Features of Health Insurance You Must Know in 2024

How come you know your life will be stable a few years from now? Nobody on this earth can predict it. But the action that you must take now is to secure your mental peace. Thanks to the phrase we've all grown up hearing, "Prevention is better than cure". Now the question is, how can you do that? Buy a health insurance policy that serves your medical requirements and saves you money when it's a tough time for you and your loved ones.

There might be 1000s of reasons on the internet about why you should buy a health insurance policy. But before buying a policy you should know your requirements or why you need health insurance. There are different plans for various requirements of each individual and their life challenges. Some of us may require individual insurance that covers only a person's medical needs. A few of us may either require a family floater plan for our family, diabetic insurance or maybe maternity coverage health insurance, so and so.

A health insurance company provides every kind of facilitation you require, but there must be some criteria for choosing an ideal health policy for everyone. This article discusses the features that health insurance unfolds for you which will give you a clear picture of the checklist before buying it.

Why do you need health insurance in India?

There are multiple reasons why you should buy health insurance, some of them are:

  • Financial stress is inevitable

    No matter how hard you try, there will be situations when your health complexities will be mentally harassing. In such situations having a health policy could work wonders for you by providing you optimum financial support & peace of mind.
  • Medicare costs are rising

    In an era of inflation, tackling the medical expenses is a daunting task in itself. From hospital expenses to post-surgical needs, good health insurance can cover it all for you.
  • Critical illness is at its peak

    Situation of today's hotch-potch lifestyle, people have become more prone to critical illnesses like cancer, stroke, trauma, etc that can cost your lifetime savings to cure. Multiple plans across the Indian insurance market will save you from these distresses.
  • Protection for your loved ones

    Insurance for your medical requirements won't only save you but your family members as well. There are many family floaters health plans in India that you can choose for extended coverage for you and your loved ones.
  • Track your health & wellness

    Having a health policy can inspire you to keep a record of your health and wellness regularly. You can also go through multiple diagnoses to know about any health issues in advance and take preventive measures for those particular health concerns.

Important features of health insurance

These are some of the prominent features that almost every health insurance offer. You should choose a health insurance plan that provides absolute transparency in case of the below-mentioned features:-

  • Pre-existing disease waiting period

    Several health insurance companies have a waiting period of 2 months to 2 years for pre-existing diseases in general. However, choosing a minimum waiting period plan can relieve you from future mishaps.
  • Cashless facilitation in networking hospitals

    Health insurance companies have a wide network of registered hospitals that provide advanced cashless medical treatment to policyholders.
  • Daycare procedures

    Surgical treatments such as cataracts which take less than 24 hours to operate are also covered in a health insurance policy, saving you lots of money.
  • Pre & post-hospitalization

    Health plans take care of your treatment costs which include services such as doctor's consultation, drugs and medication, diagnosis or any lab tests, etc.
  • Sub-limits

    Room rent capping is another salient feature of health policy. You must check your requirement for room rent which is 1-2% of your policy's total sum insured. If your treatment involves higher room rent, you might need to pay some percentage of the total bill in the form of a sub-limit.
  • Co-payment clause

    Some policies may have a clause for co-payment which requires some percentage (say, 20-30%) of the total medical expenses to be paid by the policyholder. You must know your policy's clauses for co-pay.
  • Automatic restoration benefits

    Once the sum insured by your health insurance policy gets exhausted, the insurer refills or adds more sum insured value over it. It helps you get continued medical support whenever needed.
  • Preventive health check-ups

    The health insurance policy provides you with regular health check-up benefits that help diagnose any disease or ailment in advance. You can get as many medical tests done as you require up to your sum insured.
  • Family coverage benefits

    It provides medical support to each member of your family whom you've covered under a family floater health insurance.
  • Flexibility to add multiple riders

    Adding riders for accidental disability, critical illness, death benefit, etc could be a game changer for unpredictable tough situations that may arise in future.
  • High sum insured for better coverage

    Choose health insurance with an adequate sum insured as it'll provide you with extended health support without even worrying about running out of money.
  • Maternity or other benefits

    Several health insurance policies cover maternity care, newborn care, or pre-existing conditions. However, it comes with a definite waiting period that the policyholder needs to serve before getting any coverage benefit.
  • Cumulative bonus & tax benefits

    If you don't raise a claim during the policy year, you get a no-claim bonus/discount on your premiums on the next policy renewal.
  • Exclusions of specific medical conditions

    Health policy has some pre-mentioned criteria of exclusions which means you are not eligible to avail the coverage benefits in such conditions. Some of the major exclusions are death or disability while participating in an adventure, suicide, breach of law, and so on.
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The final word

This is a human tendency, that we don't care much about our health till something like an epidemic or a critical health situation strikes that impacts our normal lives. In such situations where you are clueless about how to tackle medical emergencies and health complexities, a health insurance policy comes to your rescue. Certain times are so unpredictable that you might not have any financial backup, therefore having health insurance on your back proves to be a blessing in disguise.

This is high time to secure yourself and your loved ones with optimum health coverage benefits. Now's the right time for you to know the features of medical insurance even before buying it.

To learn in detail about the features of a health plan, reach out to our expert policy advisors at PolicyX.

What are the features of health insurance: FAQ's

1. Do I need health insurance?

Amid all the uncertainties of life, you should secure the peace of your mind in case of a medical emergency. Having a health insurance policy means providing you with a safety net against medical odds and financial stress arising due to it.

2. Should I buy separate health insurance for each member of my family?

Buying a family floater health insurance with a sufficient sum insured (say 1 or 2 crores) can work well for each member of your family. However, if you are searching for more coverage benefits for everyone in the family, you can also buy separate health plans.

3. Which features are most important while choosing an ideal health insurance?

The most vital feature to look for when selecting health insurance is that the policy covers you completely. Like, in case of critical illnesses, pre and post-hospitalization, consultations, and more.

4. Which insurance companies offer the best coverage for health plans?

Some of the insurance companies that offer the best coverage with their health plans are:-

  • NivaBupa health insurance
  • Care health insurance
  • Star health insurance
  • Aditya Birla's health insurance
  • Manipal Cigna health insurance

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What Our Customers Have to Say

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Achintya Sharma

Ranchi

May 10, 2024

I& 039;ve been covered by HDFC ERGO Platinum Health Guard plan for years now, and it has been a lifesaver. The coverage is extensive, and the claim process is so easy. I highly recommend the po...

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Parag Mehta

Jamshedpur

May 10, 2024

I’m impressed with the assistance of the ManipalCigna Prime Senior Insurance policy that I’ve bought for my father. I don’t fear now being a NRI because I’m assured of h...

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Anshul Garg

Vishakapatnam

May 10, 2024

The ManipalCigna LIfestyle Protection Critical Care Policy has coverage for up to 30 critical illnesses with a sum insured of up to 25 Crores. If you’re searching for a policy like this, ...

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Shivalika Varghese

Delhi

May 10, 2024

If you are searching a health insurance like ManipalCigna ProHealth choose that offers straightforward claim assistance and the flexibility to optimize your coverage, go for it.

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Pratibha Chandrakar

Kolkata

May 10, 2024

I was majorly focused on pre and post-hospitalization expenses coverage and found the best health coverage for these with the ManipalCigna ProHealth insurance policy.

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Kanupriya Ghadge

Nagpur

May 10, 2024

For anyone who’s looking for a comprehensive health insurance policy, I would recommend buying the ManipalCigna ProHealth Prime insurance plan as it provides maximum coverage.

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Neelam Sharma

Bengaluru

May 10, 2024

Star health has been my health insurer for more than 2 years and I am happy. Thanks to PolicyX for suggesting me Star Health

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Adi Kukreja

Jalandhar

May 10, 2024

My wife fell ill and was diagnosed with jaundice, due to which she had to be hospitalised for a week. But Star’s Family Health Optima Insurance Plan helped me pay the bill and PolicyX mad...

Simran Nirala

Written By: Simran Nirala

Simran has an experience of 3 years in insurance content writing. She transitioned from hospitality to the insurance industry after her emerging interest in how vast insurance is. With her ability to write complex insurance concepts in a simple, relatable manner she keeps her audience hooked and solves their doubts smoothly.