Are your satisfied with your health insurance cover?
Keeping in mind the rising medical costs, complex treatment procedure, clinics and hospital hassles, health hazards due to environmental conditions, health insurance has become an indispensable tool in today’s world. The medical treatment costs have reached an all-time high and are further expected to rise due to ever inflating economy. Medical emergencies like sickness, uncertain disease and sudden accidents which might result into prolonged hospitalization can leave you in severe financial crisis situation unless you have a backup source of medical cover which takes care of all your hospitalization expenses. A good health policy will not only support you financially but will also lift your emotionally during the time of health crisis. Thus, one good health insurance plan is directly proportional to your financial solutions, emotional stability and social image in the society. However, markets are filled with loads of policies provided by various insurance providers for millions of customers across in India. This often makes customer confused in choosing the best health insurance in India for themselves and their family.
If not taken properly there are higher chances of policy being short or irrelevant pertaining to your family needs. Leaving you stuck in huge financial loss. The article gives few tips on choosing the best health insurance in India for your health needs: Pre-Existing Diseases Insurance companies come with a waiting period of around 2 to 4 years in case of pre-existing diseases. They cannot approve any claim generated during this period for illness occurred because of the diseases which you had been suffering before the purchase of policy. Therefore, you should look for plan which has lesser waiting period and more pre-existing illness cover. No Claim Bonus One of the best tools to reduce your insurance premium would be no claim bonus. A healthy life leads the way to save money in every sense. No claim bonus is the benefit provided by insurers to those years in which you don’t claim to insurance company against any illness. In most of companies it gets added for consecutively 5 years. Thus, the benefits that you can avail would be a cost effective premium at slashed rate of around 10-50%. Co-payment Discount Co-payment Discounts means mutual payment done by insurer and the insured person. The payment percentage is divided as set while purchasing the policy. Co-payment helps you reduce premium. Incase, you’re not capable to pay high premium you can sort for this option as it will reduce your premium. But ensure that you saved little money aside to pay money as decided during hospital treatments.
Hospitals Insurance companies have lists of hospitals tie-ups where for any treatment you don’t need to pay the bills rather you can enjoy cashless facility with no hassles of reimbursement filing. All the charges are settled directly between the hospital and insurer. Your best health insurance in India should look for policy that covers empanelled hospitals in your area, so that you can approach it with ease during emergencies. Room Rents Once again it’s the important element to keep a tab on your insurance premium. During hospitalization, you have to bear a predefined room rent. While some give discounts of 1% or 2% in case of ICU usage, few have no maximum limit for such expenses. Exclusions Exclusions are more important than inclusions. To create the best health insurance in India, it is advisable read the exclusions terms and conditions of the insurance policy. Go for policies with less number of exclusions so that you don’t suffer issues during the treatment of your illness or when claiming for your family’s medical expenses.