Steps to follow to buy best health insurance in india

Steps to follow to buy best health insurance in india

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  Steps to Followto Buy the Best Health Insurance in India Search. Compare. Buy
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  Step 1: Whomto Cover? • The first step towards buying a health insurance policy is to assess whom all you want to cover. So, decide if you want a policy for yourself or for your entire family. • To avoid any financial trouble due to huge medical bills, it’s advisable to cover all the members of your family.
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  Step 2: What Kindof Cover You Should Buy? Individual health insurance Family Floater Health Insurance • This type of health insurance policy covers each individual separately. • The premiums for this type of insurance has to be paid separately. • This type of plan covers an individual up to the limit of sum assured. • This insurance covers all the members of the family in one policy. • The sum insured can be used by all members as it does not have any individual cost limit. • This type of insurance covers all the members under one umbrella.
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  Step 3: Decideon the Coverage Amount • Gauge how much sum assured would be apt to take care of your present and future medical expenses. • Keep in mind the rising medical inflation rates and your lifestyle which can affect your sum assured. • The premium for your health insurance is determined on the basis of age and coverage amount. • So, opt for a coverage amount that would be sufficient to cover your medical conditions.
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  Basic health plan Top-up plan Comprehensive healthplan Benefit Plan Step 4: Decide what plan you want
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  • Basic Health Plan •A basic health plan covers pre and post hospitalization charges, ambulance charges, day-care procedures and more. • This type of plan often has a limit on room rent and co-pay and deductible. • Note: If the policyholder exceeds the room rent limit, he will have to bear the additional medical expenses from his own pocket.
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  • Comprehensive Health Plan •This type of plan offers more coverage than the base plan. • Along with this plan, you can opt for additional covers such as accidental cover or critical illness cover. • These plans have comparatively high premium compared to basic health plans.
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  • Top-up plansA top-up plan is a type of health plan that supplements your existing health insurance plan. It covers the expenses beyond the limit of the existing health cover. This type of plan has a pre-decided deductible value that a policyholder is required to pay before making claims.
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  A regular top-upplan Super-top health insurance plan • In this type of health plan, the policyholder has to exhaust the deductible limit. • A regular health insurance policy reimburses the amount up to the sum assured, but a top-up plan covers costs after a certain threshold is reached. • This plan takes care of your medical expenses once you have exceeded the deductible limit on your present health plan. • Once you exceed your deductible limit, all the medical expenses during the whole year will be paid by the insurance company.
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  • Benefit PlansA benefit plan is a type of health insurance plan that provides cover for specific critical illnesses such as cancer, heart attack, organ failure, etc.
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  Step 5: Know aboutthe factors Network hospital • Insurance companies have tie ups with hospitals that offer cashless treatment to a policyholder. • Check the network hospital list to have an idea about the number of hospitals covered by your insurer and if it includes the name of your preferred hospital. Rewards on renewal • For every claim free year, health insurance providers offer you no claim bonus which lets you avail discount on your insurance premium.
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  Room Rent limit •Room Rent Limit is a limit set by your insurer that defines maximum coverage that a policyholder is eligible to receive for per day room charges. Restore benefit • Having this benefit ensures that your entire sum assured is restored for re-utilization.
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  Step 6: Stating theright facts While buying a health insurance policy, ensure that you state all the right facts. Mention about your existing health conditions and your history of illnesses to the insurer, to prevent your claim from getting rejected, it’s imperative that you mention the correct details. Recommended Read: How To Buy Health Insurance In 6 Easy Steps