Simply knowing about the benefits and coverage of health insurance policies is not enough for buying the best health insurance policy in this year. Insurance companies bring a variety of changes in their policies every year; therefore, it is mandatory for you to understand the latest and upcoming trends in the health insurance market in India.
In this article, you will find ways to get the best health insurance policy along with the detailed knowledge of health insurance in India.
You probably have a completely different set of requirements making you wonder how to find the most suitable policy for you. Well, the good news is that the insurance companies in India offer customized plans in order to fulfill the requirements at an individual level. One of the best features of health insurance plans available in the Indian insurance market is that you get comprehensive coverage at affordable prices.
In the below section, you will read some general tips to find the best healthcare policy in 2017:
1. Look out for Top Insurance plans
On your way to find out the best health insurance plan for you and your family, you have to explore a wide range of similar plans available in the market. Do not forget to check various health insurance plans before finalizing any plan.
2. Buy Through an Insurance Aggregator
It is obvious that insurance companies will maintain the greater level of transparency than any other insurance agents or brokers when you purchase the best health insurance plan for you. You can buy a policy online after reading its complete details. However, when you purchase a policy via an online insurance aggregator, you get the facility to compare different health insurance policies and pick out the best one.
3. Find An Affordable Health Insurance Plan
Medical insurance helps you in avoiding high hospitalization costs, in case you face any medical emergency that leads to emergency hospitalization. There is no point in paying such huge medical bills. Insurance companies offer healthcare coverage at nominal premiums, which you can avail at your own convenience.
4. Never Compromise on Benefits and Coverage
Consider buying a plan that offers all the benefits that are crucial for you. Never buy a plan that requires you to low premium and offers limited coverage. Read the policy wording carefully, which will help you to know the real benefits offered by a plan.
“How much health coverage is enough?” this is the most common question asked by insurance seekers in recent time.
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5. Here is the answer to this question.
Health insurance offers a policyholder the assurance for safe and secure life by providing coverage for medical expenses arising out of any medical emergency covered by the policy. However, it becomes a task to select a plan with adequate coverage and expected benefits. Let’s see the coverage and benefits typically expected from a health insurance policy in India:
6. Check for Cashless Benefit
This is one of the key features, which refers to the emergency assistance, in case you come across any medical emergency. It helps you to avail the cashless treatment benefit at a network hospital of your insurer.
7. Check for any sub-limit/co-pay
There are conditions like co-pay and sub-limits under most health insurance policies. Insurance companies apply a certain percentage of sub-limits on certain expenses, such as 2% of the sum assured on room rent in case of inpatient hospitalization.
Make sure you know this percentage associated with your health insurance plan too. Few insurance products also have limits for specified surgeries or operations. So, even if you choose a sum assured of Rupee 5 lakhs under your health insurance plan, there could be situations when your policy would cover only 50% of the sum assured for the medical treatment required.
8. Review your existing policy and look at options to Port
If you already have a health insurance policy that meets all your medical requirements and you are still healthy and young, you could think of porting into another insurance plan available at a comparatively low premium. You could also choose to port into a new plan offered by some other insurer if required. In such a case, you have to inform your insurer about any such need at least 2 months before the up coming policy renewal date.
There is very limited chance of portability, in case you have already made claims under your existing health insurance policy, or have any critical illness to inform your insurance company. One thing you can try in this situation is that buy add-on coverage from your current insurer.
Hope you can now find the best health insurance plan in the market. If you still find any difficulty related to your health insurance plan, take help from your insurance agent or broker or directly call the customer care of your insurer.
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