Top 6 Things to Consider While Buying Health Insurance
Published On 06 Nov 2019 By Sakshi Aggarwal
One cannot deny the importance of having covered under a good health insurance policy these days. The skyrocketing health care expenses
However, before heading towards shopping for a good and relevant health insurance plan, it is necessary to know the types of plans and their advantages. There are two types of health insurance plans-indemnity and fixed benefit. The former covers
So, let us understand in detail the six main aspects that should not be ignored while selecting a health insurance plan for yourself and your dear ones:
Being specific about the requirements of you and your family is more important than anything else. Which type of plan to buy or even the add on benefits come later in the order. To be more clear of what you actually require, the need analysis can be done keeping some factors like the number of family members to be covered, age, family’s health history for hereditary diseases, pre-existing diseases and the current health condition.
On the basis of this, you can consider buying a family floater health insurance policy or an individual health insurance policy. For instance, a newly married couple may require a health insurance plan that necessarily provides maternity cover, but a youngster may want to have an individual plan. A family floater plan, however, turns out to be more cost-effective.
Choosing a plan according to your requirements will be fruitful if only you are able to buy the plan which has the shortlisted features. Which is why a plan with a lot of benefits might not always be the best option for you, as it will entail high premium, which would become a burden for you. Thus, you must narrow down your requirements to the actual ones and buy a plan that you can pay for in
Note your age, the number of family members to be covered and their exact age (for
4. Claim settlement:
Another important aspect is investing your money with a reliable health insurance company. If a company is reliable or not, can be
Claims for health insurance can be
5. Inclusions and exclusions:
Exclusions are certain conditions under which the insurer is not liable to pay the policyholders for expenses incurred. Therefore, it is important to thoroughly read and understand the exclusions listed under every health insurance plan before deciding on any. Evaluate exclusions like cover for pre-existing diseases, maternity, HIV/AIDS, alternative treatments, etc.
6. Bonuses and discounts:
Health insurance companies often give policyholders various bonuses and discounts.
Thus, proper planning and need analysis is all that is required to purchase the right health insurance policy. If still in doubt, you can get in touch with the leading health insurance brokers like Insurancedekho for the best advice.