Categorized | Health Insurance

overview of best health insurance

Buying Health Insurance is a must no matter what age you are in. Many of us do not understand the importance of a good health insurance until the need for it arises.  Why wait for such dreaded situations to open our eyes to realize the importance and need of a health insurance. You can be at peace when you know that you have the Coverage that you need. Once you decide on getting health insurance, you now have to know the best insurance that will suit your needs. In India, the two broad categories of health insurance comprise of individual health insurance and family floater plans.

Types of Health Insurance Explained

Individual health plan covers Hospitalization charges up to a sum that is set prior to getting the insurance policy. And the insurance Premium will be based on the sum insured. The second kind is the family floater Policy which will cover the members of the family on any hospitalization for the sum insured. The catch here is that the sum Insured during the period can be acquired by all the members of the family. So if you have two members of the family hospitalized then the medical expenses for both the members can be claimed under a single policy. The idea is that by getting a family floater with a big coverage you are ensuring that each member of the family is covered with a huge amount. The premium on this kind of policy is low as compared to the individual mediclaim.

Tips to Get the Best Health Insurance

Prior to getting the health insurance you should plan your requirements carefully. There is no point in investing a health insurance that is not right for you.
 
•You will need to decide on the coverage or the sum insured. Then you should know what the premiums will be. You should compare at least premiums of the three best health insurance policies in the market.

•Check for any Pre-existing conditions and confirm that those are covered in your shortlisted health insurance policy. If they are not covered then you need to check and compare the Waiting Period on those policies.

•You can also check for the Critical Illness coverage in the health insurance that you are interested in.
 
•Read carefully the Exclusions in the policy. This is very important to know since many policies may not cover certain ailments and conditions completely or you may be required to serve long waiting period. For example, cataract surgery is excluded the first year in some health insurance policies.

These are some of the key points that you must be aware of while comparing the various insurance policies. What is a good health plan for one, might not suit the other. You should also check for the ease of an insurance Claim with the particular provider. They may have the best coverage but if it is going to be a hassle to get the insurance claim then you might be in trouble. Do your due diligence and get the best health insurance plan for you and your family.