One of life's many unanticipated events is medical emergencies. With the rising expense of healthcare in India, it is nearly impossible to avoid acquiring a health insurance policy.
However, with so many options, selecting the insurance coverage that is right for you can be challenging. Don't worry; we've made everything simple for you. Here are the top ten factors to consider while choosing the best health insurance plan for you and your family:
1. Age Requirements
When it comes to Health insurance, age is one of the most important criteria to consider. Consider the age of the family members who will be covered when acquiring a medical policy. The premium cost would be determined by the age of the eldest family member, just as it would be in a family floater policy. When purchasing health insurance, the age restriction criterion should be taken into account. For example, some health plans include a 91-day minimum age requirement and a maximum age limit of 60 years. Other plans include a 25-year minimum age requirement and a 50-year maximum age requirement. There are some plans, though, that do not have any age requirements. As a result, you have the choice of making the appropriate decision.
2. The Perfect Blend of Premium and Coverage
It is feasible to make money by obtaining the cheapest health insurance. Every narrative, however, has two sides to it. Provided you can afford it, insurance with a cheaper premium can be useful if it provides comprehensive coverage. Another advantage is that insurance premiums are reduced. So the best line of action is to investigate the causes for a lower rate without sacrificing insurance coverage. Check for any additional co-payment, deductible, or sub-limit clauses; if there are any, you'll have to pay more at the time of claim.
You should purchase insurance that provides appropriate coverage without sacrificing features at a fair price.
3. The Waiting Period Clause is a legal term that refers to a period of
You will be in a better position to make a decision if you are aware of the waiting period provision. The insurer will not accept any claims stemming from pre-existing conditions or specific illnesses during this time. And, depending on the insurer and the plan you choose, it can run anywhere from 24 to 48 months. Furthermore, only after this time period has elapsed will you be able to claim awards. This waiting period will apply to any pre-existing diseases that a person may have prior to acquiring coverage, such as thyroid disease, high blood pressure, diabetes, and so on. It also applies to conditions and treatments including arthritis, varicose veins, cataracts, and so on.
As a consequence, you can compare plans and choose one with a short waiting period before you can file a claim in the event of a medical emergency.
4. The Advantages of Pay-as-you-Go Hospitalization
In most cases, health insurance companies provide a network of hospitals with whom covered people can receive cashless treatment in the event of a medical emergency. It saves you time and effort when it comes to completing our paperwork for admittance and claim. Furthermore, the insurance company immediately reimburses the hospital for the full amount insured.
As a result, you won't have to put money aside and then make a reimbursement claim. It will be advantageous if you request a list of impaneled hospitals from your insurance company and are aware of all network hospitals in your area.
5. Pre-hospitalization and Post-Hospitalization Care
Medical expenses spent during hospitalization are usually covered by most health plans. Purchase a plan that covers both pre-and post-hospitalization charges. avoid paying for ambulance services, medical tests, drugs, and doctor fees, among other things.
6. Maternity Expenses Coverage
Many people make the mistake of ignoring the maternity benefits in their health insurance coverage. Investing in a health plan that includes maternity coverage is a good decision, especially because the cost of delivery and maternity care is already at an all-time high. Typically, there is a 2- to 4-year waiting time before you can receive benefits. For example, if you want to get married or start a family in three years, a plan with a two-year waiting period will suffice. Choose a plan that includes medical coverage for a newborn infant in addition to the delivery charge. Don't forget to look at the limitations that come with it as well.
The NCB refers to the insurance company's discount for all of the years you haven't filed a claim. At the time of subsequent policy renewals, your coverage amount is increased for all claim-free years. The NCB limit is, nevertheless, specified in most health insurance policies. The insurer's limit would decide the amount of the increase in the total insured.
8. Preventive Health Checkups are available.
Preventive health checks for cardiovascular disorders, cancer screens, MRIs, and other procedures have all increased in price. Why not get it covered in your health insurance policy and have your insurer pay for it? There's a lot of money to be saved there. Make sure to verify the coverage limit for preventative health check-ups when choosing a medical insurance policy.