Medical science is progressing by leaps and bounds with every passing month and year. Millions and billions of dollars are spent on being research to find solutions to diseases that trouble us. New facilities, equipment and drugs are coming in the market to treat age old ailments.
The medical schools are producing brilliant doctors and professionals to take care of you and treat you. But everything comes at a cost.
Are you financially well-equipped to avail these facilities as and when the need arises? A simple hospitalization can erode your years of savings. Many people don’t have that kind of saving to avail that treatment.
Would it not be unfortunate to lose someone you love just because you could not avail the medical treatment that was readily available in your city and your vicinity?
You can well come over this havoc by buying a health insurance plans for your family at pocket friendly premiums. In this fast paced life, Health insurance has become an essential commodity. It definitely is more of a necessity than a luxury.
There are 27 players in the Indian market that provide health insurance. Especially after the IRDA has allowed entry of private sector players into the arena of insurance, the customer has emerged as the winner.
Due to fierce competition in the insurance industry, the insurance companies are forced to provide exciting features at lower premiums to make their products more competitive. This is again beneficial to the customer and goes in his advantage.
However, this has also caused a problem for the customer, the problem of plenty. Now, the customer gets confused from which company to buy a health insurance plan.
Whenever you are planning to buy a health insurance policy, please make a note of the following things:
- Judge the company on the basis of its tenure of operations of the company from which you are buying.
- Compare the companies on the basis of the claim settlement ratio. The closer to 100% the better.
- Brand value can also be a factor to decide. Big brands often provide added services and offer competitive premium rates by passing down economies of scale to the customer.
From my experience as a veteran in the insurance industry, I would say that Religare is one such company that is quite competitive on all the three abovementioned points.
It is one of the 5 stand-alone insurance companies in India and thus is highly specialized into health insurance sector. They have a huge distribution channel and a large range of health insurance products to offer.
It has offices across 1700 locations all over India. Religare provides well-equipped products for individuals, family floaters and corporate products.
Below are some of the features of their plans:
- They have a wide network of over 4758 hospitals which provide cashless claim facility.
- They provide 170 daycare procedures.
- No claim-based loading at the time of renewal.
- Free annual health check-ups are provided for the family.
- Company encourages on-line payment and prefers to work in paperless environment.
- No capping on essential expenses like doctor fee, room rent etc.
- Pre-hospitalization upto 30 days and post-hospitalization upto 60 days are covered.
- Tax benefits under Section 80 D are available for premiums paid with 10% discount on 3-year policy and 7.5% discount on 2 year policy.
- A lump sum amount equal to the total sum insured is provided to the family in case of accidental death or permanent disability of a family member covered in the policy.
- Free lookup period is 15 days upon receiving the policy and full refund can be availed on the premium paid.
- Minimum eligibility age is 1 day and maximum entry age is no bar.
- Co-payment: you are required to pay 20% co-pay if you enroll at or after the age of 61 years.
- If you are taking a group policy, then a discount of 5-20% is available depending on the size of the group.
- You can increase the sum insured at the time of renewal with the revision of premium.
- You get a grace period of 30 days after the renewal date has expired.
Religare Health Insurance is a very reputed company and whenever you are making a choice of purchasing a health insurance for yourself or for your family members, it can be one of your top priorities.
You must make a wise investment choice to ensure a strong financial backup, especially for the health sector. In a critical aspect such as investing on your health, you can’t afford to make a wrong choice. Hence, Religare Health Insurance are an ideal choice for all of your medical needs in case of hospitalization.
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