Health Insurance Policies
Why Compare Health Insurance?
We live in a consumer age, where you are spoilt for choices. With so many Health Insurance Companies offering so many types of Health Insurance Policies, it’s a shame if you jump at the first one you see. Compare health insurance to get the best plan at the best rate. Compare Health Insurance so that when you really need the monetary support, you actually get it. With Health Insurance policies for Senior citizens, Families, Individual, Critical Illness, Maternity Covers etc, you can definitely find something that covers you and your family, if applicable, in the best possible way. There are seven key parameters for comparing Health Insurance, which are discussed here.
Parameters to Compare Health Insurance Plans Hospital Network in your area: Health Insurance policies generally provide cashless treatment facility in their network of hospitals. You need to compare how many hospitals are covered in your area for cashless, for your shortlisted Insurance companies. Room eligibility: Room Rent Limit or Room Category capping, if ignored, could turn out to be the biggest problem in your health insurance policy. In case any of your family members are hospitalized, if you opt for a higher room than your eligibility, your entire hospitalization bill could be proportionately deducted, and hence lead to a massive loss for you.
Co-payment and Sub-limit: Copay is a percentage of the admissible claim that you will be required to pay. Insurance companies would pay the rest of the admissible claim. Check for the Co-pay clause in the policy which could sneak into the plan, when you are getting older. Sub-limits are caps that insurers impose on the sum insured. Annual Premium: While it is not advisable to compare costs alone when choosing a plan, it is practical to compare shortlisted plans offering similar features per your requirement. Ideally, there should not be a lot of variation in the premium of similar features. Be prepared to pay a higher premium, in case you want the plan to cover each and every small health cost such as OPD bills, dental and opthalmic costs etc.
Claim Rejection Ratio: Every company has different parameters to accept or reject customer claims. Check for health insurance companies with lower claim rejection ratios for a better experience. No Claim Bonus Benefits: No claim bonus benefits are offered by many insurers. The customer can avail these by not making claims for an entire year. The no claim bonus usually translates into a discounted premium or increase in Sum Assured the very next year. Waiting Period: health insurance policies companies do not cover all the diseases right from the word “Go”. For some conditions, the company starts covering them only after a certain time period. This is called the waiting period. It is usually set at 2 years but if you compare health insurance plans, you can find something with a lesser waiting period.
Now that comparing Health Insurance policies is done online, it is absolutely hassle free and as quick as your Internet speed. Compare health insurance to make sure you get your money’s worth and the crucial assistance in the time of need. [Source : https://www.coverfox.com/healthinsurance/compare-health-insurance/]
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