Thursday, December 12

Things to Keep in Mind When Settling for a Health Insurance Policy

“Health is wealth”. Of course, health is everything. To perform every task or even fulfilling the needs of your near and dear ones, you need to be physically fit. If you are concerned about your health, then you might be aware of health insurance plans, and if you haven’t yet bought any yet, then it is critical that you consider buying one today.

Modern day treatments and hospitalisation have become quite expensive. You cannot be naïve andignorethe importance of purchasing a health insurance plan in today’s time. Medical bills are shooting high, andhenceit would do you good if you buy health insurance policy to tackle difficult situations in times of medical emergencies.

Key Points to Note While Buying Health Insurance

Health insurance plans should be based on your requirements and you should claim them after understanding the terms and conditions. There are a lot of factors that you should always take into consideration.

  • The Right Time to Buy – Most people look for the right time to buy a health plan. The reality, however, is that the right time never comes. You should but it at earliest to claim the maximum benefits. In fact, the premiums are low when you buy a policy at a younger age. Moreover, you will get a comprehensive scope of coverage, which covers all the aspects of health-related claims.
  • Type of Coverage You Want – Check what kind of health insurance policy will suit you. Look at the type of coverage you require, be it an individual plan or a family floater one. Make sure you decide on the type of policy you want before buying the plan.
  • The Sum Insured – This is one of the most important aspects, which should be planned carefully. Check for the maximum liability, which the insurance company would pay to deal with the high medical bills. Consider the members covered, existing illness in the family and expected medical expenses to decide the sum insured. Don’t forget to check the premium affordability. Choose a plan with a low premium and high coverage.
  • Coverage Features – Health insurance in India, nowadays offersa wide array of coverage features. Every plan is composed of different features. Make sure you do plenty of research about every plan’s coverage features before buying one.

Key Points to Note While Filing a Claim

Wondering how to claim the benefits of health insurance? Follow the tips listed below to ensure a hassle-free claim settlement.

  • Maintain a proper record of your medical report
  • Keep at hand the discharge summary, bills, prescriptions, receipt of pharmacy, investigation reports, etc.
  • A copy of all claim papers and medical bills
  • Let your insurer know all material facts
  • For a cashless claim settlement, seek medical treatment in a network hospital
  • Understand the pay-out limit, waiting period and co-payment applicable on the coverage
  • Furnish complete and correct claim documents to your insurer
  • Reassure timely intimation and submission of claim documents

These days, buying a health insurance online is not a tricky task. However, you should be careful when buying health insurance plan. Keep the above-mentioned factors in mind to understand your insurance requirements before you buy one. Also, check the claim settlement ratio of your insurer before choosing the right health insurance plan for you.

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