pays for your hospital bills for diagnostics, surgery etc.
Most of us are yet to overcome the hesitation to invest in insurance policies. The basic reason would be the Premium and Claim procedures which aren’t a big task at all these days. The true fact is that people aren't aware of the flexibilities and benefits of investing in an insurance Policy these days. Insurance is almost an indispensable entity in a common man's life. Investing in a Health Insurance could actually benefit you more than you could ever imagine as the Risk of being hospitalized for infections are rising each day.
Insurance companies compete with each other to draft a better health insurance policy. The policies and covers differ vastly under each insurance company. However, a broad classification of insurance policies is as following:
Individual medical policy
Parent health insurance
Women health insurance
Overseas medical insurance
Critical illness insurance
The policy tenure decides the amount of premium and the period of comprehensive cover. Most of the plans have upper and lower Age Limit and the cover varies with each critical parameters. The policy defines the age limit after which the policy can't be renewed. Look for all these factors which could help you identify the ideal plan that fits within your budget.
If you are a victim of any of the illnesses mentioned as Critical Illness ensure that you buy a plan which covers your illness. Most of the regular Mediclaim mention Exclusions of Pre-existing diseases such as diabetes and hypertension. Critical illness cover costs more than regular mediclaim but is also the most important plan that serves the purpose of investment more.
The best feature of health plans are that they give an option of cashless facility. This cover would be perfect in emergencies to give you a peaceful hospital stay without bothering about medical expenses. However cashless facilities have conditions which you need to oblige to claim cashless facility.
Insurance companies these days offer free medical checkups when you choose to buy their policy to evaluate the claim probability of the buyer. Enquire about the medical tests and eligibility criteria for the policy you choose to buy before you decide to invest. You wouldn't be denied a plan in most cases but higher premiums could be stated as risk compensation.
Buying a health plan is never difficult. You have two options to start from scratch when you decide to invest in a health policy. They are as follows:
The offline process is a lengthy yet safe process to buy a health plan. For first time buyers the offline process is better to understand the policy market better. Knowing about various policies and their advantages from friends and colleagues is the first step however. Zeroing in on a couple of policies and then finding an insurance consultant is the first major thing you need to do. From helping you choose and customize a health plan an insurance consultant or broker will be indispensable even when you make a claim.
Buying insurance online is a gradual and step by step process. You need to learn and compare policies online and there are innumerous sites which help you decide an appropriate plan for you and your family. After deciding the plan and insurer, you need to visit the insurer's website which will guide you through a detailed process that involves filling up details and buying the plan. Almost all the sites have a premium calculator with which you can calculate an estimate of premium for your choice of plan. The entire process is done online and even more, you can download pre-authorization and claim forms online. But you must be sure of every detail you fill in your online application. Only those people who are familiar with the buying criteria should apply online.
Be aware of all the policy details and exclusions before making a hasty investment. Buying insurance online requires careful filling up of details. Offers of several insurance companies could be misleading. Seek expert advice before blindly making any investment.