Things to be considered while Choosing Health Insurance


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What is Health Insurance?

Health insurance is a contract in which an insurer agrees to pay some or all of a person’s medical expenses in exchange for a premium. More specifically, health insurance often covers the insured’s medical, surgical, prescription drug, and occasionally dental expenses. Health insurance can repay for medical expenses incurred to the insured person as a result of illness or accident, or it can pay the care provider. It is often included in employer benefit packages to entice quality employees, with premiums partially funded by the employer but frequently withheld from employee paychecks.

Choosing the right Health Insurance

Since there are so many companies supplying Health Insurance Policies in India, choosing one might be a difficult undertaking. Aside from a plethora of plans to pick from, intimidating jargon, also known as policy wordings, adds to the complexity. While purchasing health insurance is a difficult decision, there are a few aspects to consider before settling on a plan.

The following are the 10 points to think about before getting health insurance:

  • Claim Procedure

The simpler the claims process and the faster the claims are settled, the better it is for the insured. As a result, when it comes to policy choices, these two are critical. Good customer service is an extra benefit to seek for.

  • Family Medical Insurance

When choosing health insurance coverage, take your family members and their ages in mind. Consider their current ailments, if any, as well as the family’s medical history before purchasing insurance.

  • Choosing the Appropriate Insurance Amount

When choosing a health insurance plan, one should choose the amount appropriately because it covers medical bills for a year. Consider your age; the younger you are, the less you need to insure. To determine whether or not a premium is affordable, one should consider his or her income level. The add-ons are also important because they affect premium amounts. Make sure you choose a sum insured that will not fall short in an emergency and has a reasonable price.

  • Network Hospitals

You should make sure to always check with the insurance company regarding the cashless network of hospitals. When a medical emergency or hospitalization occurs, the hospitals in the network provide a cashless option—the insurer settles the medical bills directly with the insurer. Choose insurers with a large network of hospitals.

  • Maternity Advantages

Pregnancy costs have risen with rising medical costs. It is critical for women to purchase a health insurance policy that includes maternity benefits. When it comes to maternity benefits, one should look at the waiting time for claiming maternity expenditures as well as the sub-limit. The policy should also cover outpatient charges, and there should be no policy exclusions.

  • Hospitalization before and after

You go to the doctor before being admitted to the hospital, acquire medications, and have tests. You are hospitalized, and following treatment, some expenses occur, such as follow-up visits with the doctor, medications to be taken, and many others. Choose an insurance plan that includes these features as well.

  • Renewal for Life

Look for health insurance packages that can be renewed lifetime. When you are older, you are more likely to suffer from diseases and illnesses than when you are younger; therefore, you should purchase health coverage that gives lifetime renewability.

  • Free Medical Check-up

You should opt for a policy that covers a free medical check-up for the individual. However, when policies are renewed, this has no effect on the premium.

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