Friday, May 27, 2022



Here’s What Makes for the Best Health Insurance Policy

Many insurance companies promise to be the best in the business selling you the best health insurance plan in India. However, how do you know that they are indeed the best health insurance company in India and the product they are offering is indeed worth its salt? With so many insurers and insurance products available in the market, it can be challenging to choose the best one.

Other than being filled with intimidating wording of the insurance policies, the jargons that explain India’s best health insurance plan are equally daunting to understand. Since buying health insurance is a tough choice, you need to consider the following factors when finalizing a plan.

But Why Do You Need Health Insurance? You need a health insurance policy in your portfolio because it helps you gain access to quality care without you having to worry about medical bills. However, you need to pay your premiums regularly for the policy to remain active and deliver the promised benefits.

The best health insurance company in India will pay special attention to these factors. So let us discuss each aspect in detail.

1. Claim Process
The only way to find the best health insurance company in India is to check the claims process offered by them, how quickly they settle the claims, their claim settlement ratio, etc. The faster they provide the settlement, the better it is for the customer. At the same time, it is also important to check their customer support. They should have a robust customer support system in place to help distressed policyholders or their family members quickly. You can easily find all this information online. Just check the online reviews of past customers to get a reasonable idea about their work processes and ethics.

2. Family Health Insurance
When buying health insurance policies, make sure you account for all the family members and their respective ages. Additionally, you must keep all their pre-existing illnesses in mind too. Don’t forget to declare your family medical history and the existing ailments of your family members accurately at the time of purchasing the policy. Even the best health insurance company in India will not give you your claim if the information in your insurance form is incorrect or incomplete.

3. Choosing the right insurance amount
When browsing health insurance plans, you must select the amount carefully so that it covers all your medical expenses for a year. You should also take your age into account. Needless to say, a young person needs a lower sum assured. While selecting the sum assured, you also need to look at your income to ensure that the premium is affordable and sustainable throughout the policy period.

Another factor that can have an impact on your premium amount is the rider benefits. Riders are add on benefits that can expand the coverage of your health insurance policy. However, each rider you add to your policy will increase your premium too. So be sure to add only those riders that are suitable to your budget and lifestyle.

4. List of network hospitals
India’s best health insurance company wants its customers to focus on their well-being and recovery than worrying about paying their medical bills. That is why they enrol multiple hospitals to their network hospitals throughout the country so that their customers can avail free cashless facilities with ease. So check the list of network hospitals when signing up for a policy and make sure that your preferred hospital is on the list. This one simple check at the time of buying the policy will make your life a lot easier when faced with a medical emergency.

5. Check for maternity benefits
With the cost of medical care at an all-time high, maternity expenses have also skyrocketed. Therefore, women must buy a health insurance plan that gives them maternity benefits. Look for factors like the waiting period for availing maternity benefits, sub-limits, cover for outpatient expenses etc. Be sure to check policy inclusions as well.

6. Pre/post-hospitalization

Your policy should cater to your needs when you are in the hospital as well as before and after your treatment. In the absence of pre and post hospitalization cover, the costs will soon add up and make the policy less beneficial. In addition, there are many expenses one incurs after hospitalization, such as consultation, follow-up visits, medicines, etc. Choose an insurance policy that covers these expenses as well.

7. Lifetime Renewal
It would be best to look at policies that offer lifetime renewability because there is a higher chance of you falling ill or sick when you are older.

8. Free Medical Check-up
Your policy should also give you free medical check-ups as part of your insurance benefits. However, the inclusion of this facility should not have any impact on your premium once the policy is renewed.

Besides keeping all these points in mind, you must only buy your policy from India’s best health insurance company. So research the insurer thoroughly before investing with them.

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