Health Insurance Plans

pays for your hospital bills for diagnostics, surgery etc.

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Things to Compare Before Buying Health Insurance

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Why Health Insurance

Health is wealth and maintaining good health should be a priority for all of us. You must be careful about your eating habits, lifestyle etc. and maintain good health. In addition, you should also have a good Health Insurance Policy to take care of you and your family’s health and financial needs during a medical emergency.

A good Mediclaim policy will enable you and your family members to get the best treatment at the best hospital in your city or in the country. Also, a medical emergency can drain your finances, against which a mediclaim policy is the best protection.

What to Compare

With a number of insurance policies in the market, it will not be an easy task for you to choose between different plans. In order to help you decide on the best health insurance option, here are a few factors that you may consider and compare:

1.Policy Prices

You must first compare the policy prices before buying a health policy. There are various policies for the same need and one policy can cost much more than the another. You can go to various insurance comparison portals like where you can compare policies and buy online health insurance.

2.Benefits, Terms and Conditions

You must always compare the terms and conditions of various policies as well as the benefits offered by them before settling for a particular policy. You may decide the amount of sum insured depending upon your affordability and need.

3.Coverage Limits

Various insurers will provide you different Coverage limits for the same treatment of a particular illness. This condition will certainly limit you even if you have a high amount of sum insured. You must definitely go for policies that provide you higher coverage limits.

4.Family Floater plans vs Individual plans

If you buy a family floater policy, you can buy cover for 3-4 persons in your family instead of you alone, as in an individual policy. Family floater plans are cost effective as compared to individual policies.

5.Cashless Hospitalization

Insurance companies let you get hospitalized without worrying about the financial aspects. For this, insurers have their network of hospitals that will allow you the Cashless Hospitalization facility.

6.Pre-existing Diseases

Some health insurance policies offer you the facility of covering Pre-existing diseases after a few years of continuously renewing their policy. This scheme is especially useful if you have developed diseases like hypertension, diabetics etc. in your young age.

7.Maximum Renewal Age

The age on which the coverage on your health policy ceases is the maximum renewal age. You must compare various policies to find one with the maximum renewal age. Ideally, the policy must provide you coverage for your entire life, or atleast upto 70 years.

8.No-Claim Bonus

Insurance companies provide a no-claim Bonus if the person covered has not availed any mediclaim benefit in the previous year. This bonus can be in the form of either a reduced Premium or an increase in the sum Insured for the following year.

You must therefore compare and study various policies and their Riders in detail before you buy one. Health is after all wealth and you must do everything to have good health as well as a good health insurance policy.