Easy ways to choose affordable health insurance 27^th November 2019

Medical facilities in India have now achieved the status of being “world-class,” allowing the people of country with access to best treatment within the country. This improvement in facilities has come along with a substantial increase in medical expenses. As a result, purchasing health insurance in India has become a necessity because covering medical expenses from your own pocket has become virtually impossible. In fact, if your parents are in their older years, you must opt for health insurance in india for parents  to allow them access to best-in-class treatment for their ailments, without jeopardising their financial future. Due to the efforts of the Government and leading insurance companies, awareness regarding health insurance has improved significantly in India.

With multiple insurance companies operating in India and offering various health insurance plans, it is certainly possible that you are confused regarding the best option. If you are unsure regarding the best policy for you, then read on to know about the easy ways to choose affordable health insurance:

• Understand your requirement: Firstly, understand the extent of coverage you require. This will depend on numerous factors like your age, family size, premium affordability, and future health requirements. Moreover, if your parents do not have a health cover, then you must get health insurance in India for parents. Also, there are various additional covers available, which can come handy in case of certain conditions.
• Coverage for ailments: Nowadays, there are several health insurance policies that offer coverage for specific critical illnesses. You need to ascertain the type of diseases you wish to cover under your health insurance policy before opting for an option.
• Coverage for pre-existing ailments: Different health insurance policies offer different waiting period for pre-existing illnesses. You need to identify a plan that has a minimum waiting period. This will save you from unexpected hospitalisation expenses in case you need treatment for the ailment before the completion of the waiting period.
• Claim-settlement ratio: This ratio signifies the percentage of claims that the insurer settles out of every 100 claims received. You need to opt for an insurer with the highest claim settlement ratio so that your claim would not be rejected for any frivolous reason.
• Cashless hospitalisation: Different insurance companies have agreements with different TPAs (Third Party Administrators). These different TPAs have different hospitals on their panel. You should opt for an insurer who offers maximum hospitals for cashless treatment. Moreover, the hospitals near your home should be covered under the panel of the TPA, as it would convenient for you in the need of emergency.
• Compare the premiums: Last but not the least, make it a point to compare the premiums of different insurance companies. For the same extent of coverage, different insurance companies charge different premiums. Nevertheless, there are various plans that offer cheaper premium but also have reduced coverage. There are various online platforms where you can easily compare various health insurance plans, their coverage, and other essential parameters.

The importance of choosing the right health insurance plan cannot be neglected as it is directly associated with your health. So, never rush but always make an informed decision after carefully comparing various crucial factors affecting your health plan.