Whether or not they are insured by their employer’s group health insurance, COVID-19 has caused many to see the value of having their own independent health insurance coverage in place.
Now, before you decide which health insurance policy you need and which is best for you you need to analyse the factors to make a perfect decision. There are several factors on which your decision should depend such as your age, family size, health history, cost of healthcare in your city of residence and, of course, the insurance company’s reputation and claim settlement track record, among other things.
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Few people can do this extremely difficult endeavour without professional, unbiased guidance. But let me tell you that there are 130 health insurance policies across 27 general and health insurance companies. The goal is to choose products with comprehensive features and a solid track record of claim satisfaction.
Health insurance providers give several benefits and coverages for eg: HDFC Life Easy Health; to get lump sum coverage against critical illness and surgeries you can use this top-up facility. Get a lump sum payout if you are diagnosed with any one of the 18 critical illnesses and or 138 surgical procedures listed. Get daily hospitalization cash benefits up to ₹ 5000.
In times of need, Star Health Insurance offers the most complete security for you and your family. In the event of an emergency, it offers financial security. However, it is essential to make an informed choice when purchasing a plan in order to make the most of the top-star health insurance policies.
Below are a few important tips to choose the best health insurance policy:
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1. Choose the right sum insured amount
Make sure to select a sum insured when buying medical insurance that you genuinely require. The cost of your insurance will skyrocket if you choose a bigger sum insured. Instead, if you choose a sum covered that is less than what you actually need, it won’t be enough to fully cover your medical costs, and you’ll have to pay out of pocket when your claim is settled.
You can also choose a basic insurance plan with a lower sum covered and purchase a top-up insurance plan in addition. If the sum covered under your basic plan runs out, the top-up plan will give you extra protection.
2. Pick a plan with lifetime renewability
Make sure you get a health insurance plan with lifetime renewability. This is important since you will probably need health insurance as you get older. Unfortunately, purchasing health insurance in your later years is challenging and costly. If your current plan has lifetime renewability, you can keep it even in your advanced years.
3. Comparison of Several Health Plans
Comparison of different plans based on their coverage, benefits, and costs is one of the greatest ways to choose the best health insurance. Comparison enables you to identify the plan that provides the best coverage for the money. Therefore, to get the greatest rate, make sure to compare health insurance policies online on websites like Policybazaar.com.
4. Verify the Insurance Company’s Reputation
Make sure to research the insurance provider’s reputation before buying a health plan. By doing this, you can get a sense of the after-sales services the insurance provider provides. To clearly understand the services provided, you can read internet evaluations of the insurance provider.
In a nutshell, the decision to get health insurance is crucial because it can shield you from a financial emergency in the event of an unexpected medical expense. If you’re unsure of how to proceed, keep the aforementioned advice in mind while you select the best health insurance plan available in India.
