Compare & Buy Car, Bike and Health Insurance Online - InsuranceDekho
Claim, renew, manage & moreLogin

Factors To Consider While Buying The Best Cashless Insurance Policies In India

Published On Mar 13, 2021 5:30 AM By Sakshi Aggarwal

Investing in health insurance is a vital part of our financial planning nowadays. Securing ourselves against the high hospitalisation and medical costs, health insurance has certain limitations and restrictions. This requires us to pay a portion of the expenses by ourselves before we receive a reimbursement from the insurance company for the payment of medical services and facilities. In such a scenario, a cashless health insurance policy comes to our benefit.

Under a cashless health insurance policy, your insurance provider directly pays your medical expenses to the hospital you are admitted to. It supplements a policyholder’s lack of emergency or contingent funds and ensures that your medical treatment is not neglected for the paucity of money. This is one of the foremost reasons for having a cashless insurance policy. Accidents, disabilities, and diseases occur unannounced in our lives, and having a health insurance policy that gives you financial relief without involving paperwork is the essential bridge between you and healthcare institutions. In this article, we are now going to look at the different factors that you should consider while buying the best cashless insurance policies in India -

Factors To Consider While Buying The Best Cashless Insurance Policies In India

1. Network Hospitals

One of the chief features that you must check before buying a cashless insurance policy is its list of networked hospitals. A network hospital refers to the list of hospitals with which an insurance company has an agreement of directly transferring the funds in case a policyholder requires to be hospitalized. Ensuring that the number of hospitals and its localization is exhaustive, you can be assured of receiving medical treatment from anywhere in your city, should you suffer from a critical illness or an unfortunate accident. Many insurance policies offer a network hospital coverage across the length breadth of our country and buying cashless health insurance that comes with this feature is advisable, as it effectively protects you against any kind of health condition anywhere in the country,

2. Comprehensive Coverage

A common checklist with all health insurance policies, ensuring that your cashless insurance policy comes with comprehensive coverage is important. As the primary objective of buying a cashless insurance policy is to reduce your personal spending, your policy should offer comprehensive coverage options of both pre and post hospitalization charges. It becomes difficult to suddenly arrange for huge funds during a health emergency and having a cashless insurance policy that supports you with these payments is a feature you should look out for.

3. Daily Cash Benefit

Your cashless insurance policy should come with a daily cash benefit. Since you are not required to pay any money to the hospital in case of an injury, illness or accidental disability, your cashless insurance policy should have the offer of daily paying you a cash benefit towards the payment of your pharmacy bills, room rent, and nursing fees. This feature augments your financial spending capacity and ensures that you do not borrow or take money from your savings and long-term investments to pay for your medical treatment. You should not overlook this feature as it can be extremely helpful to have this extra flow of cash in times of emergency.

4. Domiciliary Treatment Cover

You must also be aware of whether your cashless insurance policy provides you a domiciliary treatment cover or not. Sometimes, the fatality of an accident might render a person incapable of moving to the hospital, or the time required for travelling to the hospitals might contribute negatively to that person’s health. Unavailability of hospital beds is an additional problem sometimes and hence, receiving ‘domiciliary treatment’ or medical intervention within the confines of a person’s homes becomes important. This feature ensures that the policyholder receives complete medical attention at their home without being hospitalised compulsorily and adequately covers all of their expenses required during the treatment and recovery period.

5. No Claim Bonus

Looking for a no claim bonus clause is important as it adds an additional bonus amount to your sum assured amount during the claim amount. If a policyholder does not claim any amount towards their insurance provider in a particular year, a policyholder is liable to receive a bonus. This feature guarantees a handsome amount of income to the policyholder and assists them in times of emergency. Hence, having a cashless insurance policy with this feature would be useful.

These are some of the features that you need to keep in mind while buying a cashless insurance policy. Hopefully, these will aid to decide on the right kind of policy before hurriedly investing or purchasing a policy that offers either one or all of these features. You should remember that this is only a suggestive list and the policy that you buy should ultimately be contingent on your personal and medical needs and requirements.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Health Insurance Coverage Calculator

Who do you want to insured ?

  • Individual
  • Couple
  • Family
  • Parents

Age of eldest insured member ?

Where do you live ?

Disclaimer : Actual Coverage might vary basis your location, age and number of members

Health Insurance News

People Also Read

Must BuyMust Buy

Why to Buy Health Insurance Policy Online from InsuranceDekho

  • Tax benefit upto 75,000*
  • Claim support everyday 10AM-7PM
  • 50 Lacs+ happy customers

Latest Health Insurance Articles