How to Buy Health Insurance Policy Online? 6 Easy Steps to Follow
Published On Apr 15, 2019 5:30 AM By Sakshi Aggarwal
Now days purchasing health insurance online has become much easy and straightforward. It is not a back-breaking task anymore.
But a lot of people, even after being fully convinced with the idea of buying a health insurance policy online, procrastinate as the process may seem intimidating to them.
If you also happen to be one of those, then this article is written for you to solve nearly all of your major confusions. It clears most of your doubts on-’How to buy medical insurance online?’
Buying a health insurance policy online is a little more than knowing your premium and getting the sum insured. A few steps to decide on the right insurance plan are explained below:
1. Whom should I cover?
Once you have decided to be insured, the next step is to decide who you want to insure. It may include you, your family members, or even employees. It is advised that you include maximum members in your policy.
Also read: Everything You Need to Know About Health Insurance
2. Which type of cover shall I choose?
You have three options to choose from-
- Individual health insurance: It covers each member separately with a fixed amount of coverage for each of them.
- Family floater health insurance: It covers all the family members allowing them to make use of the insurance according to their requirements. One may choose either individual or family floater policy for family coverage.
- Group health insurance: It is a preferable choice if you want to insure your employees.
3. What will be the coverage amount?
To gain clarity on what should be your coverage amount, you must anticipate expenses for future too. Consider your current health and past health issues to get an estimate of what illnesses your body is more prone to. Consider your requirements for a hospital room as well-whether you need a private, shared or private room in a high-end hospital.
Your amount of premium is based on your coverage amount. Other factors are-how many members you want to cover, their age, type of health insurance plan you are going to choose etc.
4. How to chose the right plan for yourself?
- Basic health plans: These include basic health expenses such as pre and post hospitalization expenses including ambulance charges etc.
- Comprehensive health plans: These are more extensive than the basic ones and have options for add-ons like the cover for accident or critical illness, room rent, co-pay etc.
- Top-up plans: Top-up plans have a deductible value that is agreed by both the insurer and the insured. It is a fixed amount that the insured has to pay out of pocket before making a claim. These have lower premiums and offer higher coverage.
- Benefit plans: These cover only certain conditions instead of regular expenses during hospitalization.
5. What else?
To be able to make a well-informed decision, you must know about a few more things that affect your claim. These are:
- Empanelled list of network hospitals: These are hospitals shortlisted by health insurance companies that provide cashless treatment. Check whether hospitals preferred by you are listed in the policy or not. You can shortlist the preferred hospitals based on the factors like locality, facilities provided etc.
- Rewards on policy renewal: A lot of insurers reward you if you have a claim-free policy year by offering an increase in the percentage of sum insured value at the time of policy renewal. A few also offer a discount on the premium amount at the time of renewal as a bonus. These values are mentioned in detail in your policy.
- Restore benefit: It ensures that once the sum insured is completely exhausted during a policy year, the basic sum insured will be restored for re-utilization automatically. This amount can thus be used in case there is an instance of hospitalization again. This is a must-have benefit if you opt for a family floater plan.
6. Purchasing the shortlisted policy
To buy the shortlisted policy, to have to state all the details required for the policy. The information includes the date of birth, history of illness, your current medical conditions everything honestly. Remember, only entering the correct details would get you the right deal for you.
Though the process is not complicated at all, several details in the process of buying a health insurance policy may create nuance in some cases. In this case, getting in touch with brokers like InsuranceDekho who give unbiased advice will be a wise decision.
So, stop procrastinating and get in touch with us soon to make the process a smooth one for you!
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