Tips For How To Select The Best Health Insurance Policy In India?

The sales of health insurance plans have boosted over the last few years and it has become important for everyone to have some sort of financial backup against the high cost of medical treatments at the time of emergency or global pandemic. Choosing a suitable health insurance plan can be a tedious task as there are a plethora of options in the insurance market to choose from. One of the best pieces of advice to get the best coverage for your health insurance plans is to analyze your requirements before investing in a health insurance plan which includes considering certain factors like your age, medical history, pre-existing diseases, financial budget, and much more.

To get the best health insurance policy you must consider some predefined set of factors and look for them when comparing the suitable plans. You must do an ample amount of research and explore different health insurance providers before purchasing a health insurance cover. Different types of health insurance plans can be bought by the individual considering their conditions. Family floater plans can be bought for normal coverage of the family members and critical illness plans can be considered for medical expenses of critical diseases like diabetes, heart attack, cancer, etc.

About Best Health Insurance Plans In India

Best Health insurance policies in India offer financial compensation to individuals against their medical expenses that are incurred due to hospitalisation in case of an emergency. These medical plans offer comprehensive coverage to the customers at an affordable price and they also provide essential benefits like tax deductions, ambulance costs, room rents, hospitalization charges, healthcare checkups, etc. Following are some of the basic features of a regular health insurance plan:

• It provides cost-effective and extensive coverage to the customers.
• The insurer offers lifetime renewability of the policies to the policyholders so that they can continue availing of the benefits and features of their purchased plan with no maximum age limit.
• You can avail of cashless medical claim benefits on your policy under which the medical dues are looked after by the insurer without involving the policyholder. It takes a few hours to get approved and is a hassle-free or smooth process.
• You can port your health insurance policy, if not satisfied with the current plan.
• Tax deduction benefits are offered to individuals under Section 80D of the Income Tax Act.

How To Select The Best Health Insurance Policy In India?

Following are some of the key points that should be kept in mind while buying a health insurance plan to get the best health insurance coverage for yourself and your loved ones:

• Look for a plan with extensive coverage including the medical expenses for hospitalization costs, medicinal charges, room rents, ambulance charges, etc.
• Invest in a plan that meets your requirements for any critical disorder, maternity coverage, personal accident cover, etc. You must look for plans that are within the limit of your financial budget.
• You can buy a family floater plan that will cover all your loved ones under a single plan. If any of your family members is suffering from a critical disease then either you can get a critical disease plan as a top-up for them or you can buy a separate individual health insurance plan for them.
• Choose a plan that offers you lifetime renewability of services so that you can renew your plan without any maximum age limit and with the same set of benefits or features.
• You must always buy a health insurance plan from an insurer with a high claim settlement ratio, so that you can settle your claims smoothly at the time of a medical emergency.
• A health insurance Company with a wide network of linked hospitals can be of great advantage as it can offer you the facility of cashless claim benefits.

Conclusion

You must analyze your choices and requirements carefully before investing in a particular health insurance plan to make sure that the plan has all that you might need at the time of a medical emergency. You must also read the fine print of your policy papers to get a good idea of the inclusions and exclusions in your plan.

Also Read: Which Health Insurance Is The Best?

Things to Check Before Porting Health Insurance Policy

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.