Medical expenses have hit the roof, literally. An expensive hospital bill or medical treatment can drastically affect your net worth. This is where a good health insurance policy can come in handy. To ensure that the medical expenses incurred by you do not deflate your savings, opt for an insurance coverage. There many companies in India offering some of the best insurance plans. It is up to you to make a choice.
In order to narrow down you search, we are enlisting certain criteria to be considered before opting for a health insurance policy.
Cashless Mediclaim Facility
If you or any of your family members fall ill suddenly and hospitalization becomes a necessity, then what will you do? This is where the health insurance plans can help you. The best health insurance plans are the ones which have provisions for cashless treatment during hospitalization apart from other benefits. There are various health insurance providers, who offer treatment without cash when you or any of your family members are in a hospital. This aspect is quite significant in the event of a medical emergency.
The health insurance premium is an obvious cost borne by the insured for a chosen policy, and most pay the same on a monthly basis. It is the payment you make to your insurance company to keep your health coverage active. Here an insurer has to ensure that the premium to be paid on a policy is not too high. Having said that, a policy should not be chosen only because the premium amount is frugal. The selected policy should not be at the expenses of other crucial aspects related to your health.
It is necessary to ensure that the chosen health insurance policy covers all the critical illness. So, go through the coverage aspect before buying one. It can become very tough for an insurer if a medical emergency happens to be of an illness not included in the policy. These days, many health insurance companies are offering family floater policies, as well, which provide cover to the entire family under a single umbrella. Consequently, the family members share the sum assured and can claim benefit in case of any untoward occurrence within the policy term.
No Claim Bonus
This is also an important aspect to be considered before opting for a policy. Of late, many insurance companies are offering substantial amounts of no claim bonus in a bid to retain their customer base. So, go through the policies to find out the scope of no claim bonus under the policy.
With spiraling medical costs and constant health scares, insurance policies have become a norm rather than an exception. Choosing a health insurance policy, therefore, has become an absolute necessity. The Indian health insurance sector is witnessing humongous growth as well. There are many health insurance policies, providing benefits such as pre and post hospitalization, day care, and ambulance charges, etc. So, it is incumbent upon you to choose the policy that fits well within your requirements.