How to Select the Best Health Insurance plan/policy in India- Buying Guide/Tips If you’re a regular reader of our blog, you must already know the importance of a good health insurance. Usually most people stop with employer provided health insurance but that should not be the case.
The cost of treatment has risen at a double-digit pace of growth, outpacing average inflation in both rural and urban India between 2003 to 2013, according to the results of a cross-national survey on health conducted by the National Sample Survey Office in the first half of 2014. Taking care of your health is probably the best health insurance that you have. But the question is why do you need a health insurance policy if you eat right, exercise, don’t smoke and are fit and healthy? Let’s face it, life is unpredictable! Getting yourself health insured will protect you from financial shocks in the event of a grave medical emergency. Buying Best Health Insurance Plan Medical insurance companies in india are complex products that have evolved over time to cater to the specific needs of consumers. The IRDA issued a list of rules in 2013 for the standardization of various policies available in the market. The new Policies issued after the standardization of rules have a higher age entry of 65 years. Also, according to the new rules, the insurer is bound to offer settlement within 30 days of the claim request.
There are as many as 25 General Insurance Companies marketing more than 40 health insurance Products. Here is a quick guide to help you choose the most suitable or one of best health insurance policy. Know your needs and decide upon the policy accordingly. Most mediclaim or health insurance policies in India primarily cover hospitalization costs. Other features that may or may not be included are out-patient costs which include medicine costs, doctor visits and more. These are expenditures that you will able to incur yourself, if you plan your finances accordingly. What might pose a serious threat to your finances is huge hospitalization bills and treatment cost of critical illness such as a stroke or diseases like cancer. Don’t let go of a good health insurance policy just because it does not meet 2 of the 10 criteria that you have set. Decide on a policy and get it as soon as possible. Delaying to get yourself health insured is like waiting to buy a policy till you get sick! [Source: http://www.smartmoneygoal.in/blog/best-health-insurance-planpolicy-india-buying-guide-tips/]