Which Health Insurance Is The Best?
Published On Sep 10, 2021 12:00 PM By InsuranceDekho
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A health insurance plan is a contract between the insurer and the policyholder abiding to which the health insurance provider compensates for the medical expenses of the customers in case of an emergency. The task of choosing a health insurance cover is tedious as there are a plethora of options in the market which tend to confuse the customers. But, it is always wise to analyse your requirements before investing in a particular insurance plan. You must consider several factors like your age, medical history, pre-existing diseases, financial budget, etc. before investing in a plan.
There are several different types of health insurance covers in the insurance market for the customers to choose from. Some of them are individual health insurance covers, family floater plans, maternity benefit plans, group health insurance covers, personal accident covers, and a lot more. You can choose a specific plan based on your choice and customize it according to your needs. You can avail benefits like tax deduction, no claim bonus, free healthcare checkups, etc.
About Health Insurance Plans
Health insurance plans are insurance covers which provide financial aid to the policyholders in case of an unforeseen medical emergency. It makes sure that the policyholder does not have to pay the medical dues from its financial savings. Health insurance plans provide monetary support to the customers and it also ensures quality treatment to the policyholders in private hospitals. Let us look at some of the common features of health insurance plans bought by the policyholders:
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- It provides extensive coverage to the customers at an affordable price.
- The insurer offers lifetime renewability of the services to the policyholders so that they can continue availing the same benefits of their purchased policy with lifetime renewability of the policy.
- You can avail cashless claim benefits on your policy under which the medical dues are cleared directly by the insurer with the hospital without involving the policyholder. It takes a few hours to get approved and is a hassle free process.
- Health insurance providers allow their customers to port their plans in case they are not satisfied with their current health insurance cover.
- You can avail tax deduction benefits on your purchased health insurance cover under the Section 80D of the Income Tax Act.
How To Choose The Best Health Insurance Plan?
Following are some of the key points which should be kept in mind while buying a health insurance plan to get a suitable one for yourself:
- To get the best plan you must look for a health insurance policy with adequate coverage to make sure that it meets your demands and requirements. To save some amount of money you should never get a plan with insufficient coverage as it can be a liability at the claim settlement process in case of a medical emergency.
- You must look for a plan that is within the limit of your financial budget so that you do not overspend on your health insurance plan.
- You can add top-up covers and super top-up covers to enhance the coverage for your existing health insurance plan.
- Compare and research about as many plans and insurers as possible to explore the possible options and pick the best one out for yourself and your loved ones.
Some Best Health Insurance Plans In The Insurance Market
Let us look at some of the widely considered health insurers in the insurance market from different companies:
1. IFFCO Tokio Health Insurance
This health insurance company offers a comprehensive and affordable health insurance product for its customers. It offers various plans like individual covers, senior citizen plans, family floater plans, etc.
2. Care Health Insurance
This is one of the widely bought health insurance plans as it caters the needs of the customers at an affordable price. It has a wide base of trusting customers and affordable premium rates.
3. Oriental Health Insurance
This is one of the oldest health insurance companies founded in 1947 and it has a large base of customers. With a wide network of hospitals and offices, it offers best services to its customers.
There is no specific health insurance plan which can be categorised as the best. To get the best health insurance plan for yourself you must know your choices and then search for plans that meet your needs at an affordable price.
Also Read: When Should You Consider 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.