Categorized | Health Insurance

how to choose health insurance?

With the escalating rise in health care costs, it has now become crucial to own a medical insurance. However, you may get baffled with the host of options available. How to choose the best plan that suits your need can be tricky.

Now, you can be smart and choose it right. How? Just keep reading this article of Health Insurance tips for making a choice.
  • Know your requirements: Identify what type of health insurance Coverage you need. There are various types of medical insurance.
  • Individual Health Plan: This plan provide benefits of Mediclaim when a person is admitted to a hospital for at least 24 hours. Such plans do not cover any Pre-existing disease or critical illness. However, minor treatments are covered under some plans.
  • Family Floater: It is a collection of individual health plans for the complete family. The benefits are same as mediclaim yet there is a freedom of using the complete amount for a single person’s treatment when required.
  • Senior Citizen Health Plan: This plan is specifically meant for people belonging to the age group of 60 to their life long.
  • Critical Illness Plan: It covers a person against severe illnesses like cancer, strokes, major organ transplant etc. Under this plan, the expenses incurred in treatment and surgery, both are covered.
  • Other plans: Along with the above medical insurance plans, there are certain life insurance plans which provide mediclaim benefits. The growing craze of buying insurance for the purpose of investment has brought the demand for Health ULIPs.

  • Do your homework: Whether thinking of buying an IHP or a Family Floater or any other health insurance coverage, look for all the options available to you. Visit various companies’ websites and collect information about their plans and services. For your convenience, you can visit easypolicy.com which will provide you information of all the insurance companies and their plans existing in India. 
  • Compare: Compare different company’s plans, their features, price and services. This can be difficult, so you can look for critical reviews of such plans. Easypolicy.com can help you here in comparing different plans according to their features and prices.
  • Shortlist: After comparing, shortlist a few companies which you feel are providing adequate plans matching your requirement. Consider all criteria for such purpose. Low health insurance Premium may also mean fewer benefits. Study in detail the benefits provided by these companies’ plans.  
  • Check limits: Many medical insurance plans expire at the time you will most need it, the old age. There are certain plans which have a daily cash limit where you cannot Claim more than that. There can be certain expenses which will not be covered under your plan. Look for the maximum Age Limit covered under shortlisted plans. Check for your health insurance premium and claim limit. Also, look for tie-up hospitals.
  • Check History: Look for history of the service providers and their service records. Check customer satisfaction records and customer reviews. This will provide you a brief over their services and customer treatment methods.
  • Trusted Adviser: Always take advices from a trusted adviser. A good adviser will provide you with maximum services at the time of claim, renewals, etc. Choose for insurance brokers over insurance agents. This is because brokers are authorized by IRDA and they have a complete idea of different company’s insurance plans.