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IDEAS FOR SELECTING BEST HEALTH INSURANCE POLICY

Posted on Monday June 11th, 2018

To decide which health insurance plan is good for you, consider the following factors:

 

Individual plan or family floater: An individual plan will cover only you, while a family floater plan can cover your family: you, spouse and kids in a single deal. Some insurer offer cover to parents, parents-in-law and siblings also.

 

Do you need additional health cover if you are already covered under a corporate health deal: Quite often, the sum assured amount of corporate plans might not be sufficient to meet medical expenses.

 

Insurance cover amount: The cover amount should be decided on several factors, some important pointers include: Age, demographic profile, lifestyle, past illness/hospitalisation, family medical history, city you live in, dependents and premium amount one can pay.

 

Premium amount: Premium depends on factors like age, features of the plan, sum assured chosen by you etc. Higher the age higher would be the premium .

 

Pre-existing diseases: Insurer may assign a waiting period of 2-4 years under pre existing diseases till the time your health remains stable .

 

Waiting period: Almost all insurer have waiting period of 30 days during which the claim is payable .

 

Network hospitals: Network hospitals offer cashless claim payment benefit to policyholder. This implies you dont need to pay a penny and entire medical treatment cost goes cashless .

 

Reward/Bonus: Most insurance deals reward you in the form of bonus for every claim free year. As a bonus, insurance companies either provide: Increase in the sum assured or Offer discount in renewal premium or combination of both. Consider a plan that provides a combination of both.

 

Maternity benefits: If you need maternity benefit, then check if the insurer provides it and also check the waiting period which is usually 9 months to 4 years.

 

Lifetime renewability: It is best to choose a insurer that offers lifetime renewability so that you can avail the benefits under the deal on an on-going basis.

 

Free medical check-up: This deal offers a free check up for you and your family each year for routine checkup to assess th family fitness and avoid any serious illness that might occur due to health fluctuations . Hence acting as a sense of security for being just on fitness line.

 

AYUSH treatment: If you wish to take alternative treatments then you should check if the plan covers AYUSH treatment and the extent of the treatment.

 

Based on all the above factors, one of the good health insurance that you can consider is Max Bupa Heartbeat Family First Health Insurance followed by other insurer like ICICI Lombard and HDFC Ergo also provides “Affordable Insurance Policy . The most important point is to cover yourself first so as to protect your family , but group insurance has now been a great icing on cake these days as it offers all solutions in just average premium amount . Not only the plans gives you a set of mind relaxation but a security to stay healthy for long owing to additional protect against all illness and critical diseases . Metaphorically , the policy security decreases the trauma of falling ill repeatedly . Life insurance shall always be a second investment option when it comes to health insurance . The priority lies in the fact that your health signifies the well being of your family and dependents . Life insurance is just a monetary support when one has already passed away where as health insurance is your own property .