Not
every illness require immediate medical assistance, we live in the era where
over the counter medication is easily available and advised widely by our
family and Doctors for instant treatment. It’s only when we suffer from serious
ailments we require medical assistance to overcome the trauma and pain. To
ensure quality treatment and financial stability while getting medical
treatment, it’s essential to have a health insurance plan by your side.
To
understand the entire process of choosing a health insurance plan, let’s take a
look at the parameters that needs to be considered before buying a health
insurance plan.
How to find out which plan is aptly designed for
your medical needs?
With
the rise of awareness about health insurance, there a mass emergence of health
insurance companies who have come up with numerous health insurance plans with
attractive premiums and wider coverage.
Health Insurance plan is designed for
every age and strata of lifestyle you are leading, you can choose the right
health insurance plan as per your medical requirements and number of member to
be insured. On buying a health insurance all your medical emergencies and treatment
costs get covered, without having you to run errands during the time of medical
necessity.
·
Family
floater is a great option
Opting for family
floater is always a best option as the sum insured can be shared amongst your
family members. You won’t have to buy separate policies for every family
member, and can pay a single premium amount for securing your family. Hence,
the health insurance plan which covers family is the best suited.
·
Choose
sum insured
You
can choose a lower sum insured if you are buying the policy at an early age,
however if you are insuring your parents then you may have to opt for a higher
sum insured. Sum insured is the highest amount up to which your medical
expenses get covered, so higher the sum insured higher will be the premium
amount.
·
List
of network hospitals
Always check the list
of network hospitals before choosing an insurance policy or company. Higher the
number of network hospitals, higher chances of getting medical attention at
your nearest hospital.
·
Minimum
waiting period for pre-existing illness
Most health insurance
companies have a certain years of waiting period for covering pre-existing
illness. So lesser the waiting period, better the policy as it would start
covering your pre-existing illness a bit early.
·
Maternity
Cover
Many health insurance
companies in India offer maternity cover with a specific waiting period, post
which your delivery and new born medical expenses get covered.
·
Day
care treatments
Like
we discussed earlier, advancement in medical science has helped in reducing the
treatment and hospitalization duration. Hence, a lot of patients get discharged
within 24 hrs of hospitalization
such
treatments are called as day care treatments. Opt for a health insurance plan,
which covers day care treatments too.
·
Claim
settlement ratio
A
good and reputed health insurance claim can vouch upon its highest claim
settlement ratio with various rewards and ratings received by accreditation
authorities.
·
Lifelong
renewability
Go
for a health insurance plan which can be renewable up to lifetime; this helps
you to continue one plan forever without changing the plans every year.
·
Premium
If
you are looking for a budget Health
Insurance plan that has lower premiums and higher cover, go for top up
plans that usually come with an aggregate deductible.
The
above mentioned are the parameters that would help you in choosing the right
health insurance plan without much hassle. Do calculate premium and review the
policy coverage before enrolling yourself for any health insurance plan.
