As they say, health is wealth and you need to make all the possible attempts to be at the top of your health. You may be young and hearty right now, but thing can be different a few years down the line. You may not save yourself from the unforeseen medical emergencies like severe illnesses or accidents. Health insurance is one thing which saves your financial crisis in all such emergency incidences. Insurance is one of the best options for saving money for short term and long term financial planning as well. It is also the reason why a lot of young adults are buying insurance policies these days. You need to be cautious and thoughtful when it comes to choosing a health insurance plan.
How to choose a health insurance plan?
With so many insurance companies that are present in India, it is a bit daunting task to choose the most suitable insurance policy. It is also the reason why you need to have a plan and basic knowledge about the insurance industry. Once you know these basics, always compare various available policies which give you better idea about the insurance product which is the most suitable for your requirements. Here are a few tips to consider while comparing insurance policies:
Basic requirements
There is no dearth of Health insurance policies in India that provide numerous benefits that you might never need. Hence it is better to stick to the basics and avoid the frills that come along with insurance policies. These frills and add-ons increase the price and premium of the policy. Most of the times the routine medical requirements like dentist's bills, general consultation and regular medical bills are not required to be covered in the insurance plan.
Maximum renewal age
Since you are buying the policy at a young age, this factor gets really crucial. Maximum renewal age of a policy is the time when the policy gets discontinued. You have to make sure that this is the suitable time for you to stop gaining all the benefits of your health insurance policy.
Policy limitations
Always compare the factors like copay and treatment limits that are available for the particular policy that you are buying. You get to know about both these factors from the terms and conditions noted in the policy. You can also ask the customer care executives of your insurer who will also find answers to your other queries.
Compare benefits
Health insurance policies are mostly compared on the basis of their prices and premiums, which is wrong. Never compare insurance plans on their premium rates. Insurance Policies is a long term investment and you shouldn't give importance to premiums over the benefits of your plan. If you are not sure what kind of policy is really helpful for you, contact a professional insurance advisor who could give you unbiased opinion.
Credibility and safety
No matter which policy you choose, make sure that the provider of that plan is reliable and has a good claim settlement ratio. Also check for the customer satisfaction reports of that company and run a quick background search about it on internet.
How to choose a health insurance plan?
With so many insurance companies that are present in India, it is a bit daunting task to choose the most suitable insurance policy. It is also the reason why you need to have a plan and basic knowledge about the insurance industry. Once you know these basics, always compare various available policies which give you better idea about the insurance product which is the most suitable for your requirements. Here are a few tips to consider while comparing insurance policies:
Basic requirements
There is no dearth of Health insurance policies in India that provide numerous benefits that you might never need. Hence it is better to stick to the basics and avoid the frills that come along with insurance policies. These frills and add-ons increase the price and premium of the policy. Most of the times the routine medical requirements like dentist's bills, general consultation and regular medical bills are not required to be covered in the insurance plan.
Maximum renewal age
Since you are buying the policy at a young age, this factor gets really crucial. Maximum renewal age of a policy is the time when the policy gets discontinued. You have to make sure that this is the suitable time for you to stop gaining all the benefits of your health insurance policy.
Policy limitations
Always compare the factors like copay and treatment limits that are available for the particular policy that you are buying. You get to know about both these factors from the terms and conditions noted in the policy. You can also ask the customer care executives of your insurer who will also find answers to your other queries.
Compare benefits
Health insurance policies are mostly compared on the basis of their prices and premiums, which is wrong. Never compare insurance plans on their premium rates. Insurance Policies is a long term investment and you shouldn't give importance to premiums over the benefits of your plan. If you are not sure what kind of policy is really helpful for you, contact a professional insurance advisor who could give you unbiased opinion.
Credibility and safety
No matter which policy you choose, make sure that the provider of that plan is reliable and has a good claim settlement ratio. Also check for the customer satisfaction reports of that company and run a quick background search about it on internet.