The prices of healthcare in our country are constantly increasing. The rate of diseases are also rising, hence, having health insurance is necessary. Health insurance offers people good financial backup at times of medical emergencies. Health risks and uncertainties are very common and a part of life. Nobody plans and gets sick, but the financial aspect can always be planned. The best way to be financially ready against any uncertain health risk is to buy health insurance.
There are many reasons why you must have a health insurance policy in place. You can also buy health insurance plans for family if you have dependant members to support, and easily take care of their medical needs.
- What to consider before buying health insurance?
Severalinsurance companies sell health insurance policies in India. It is difficult to choose out of so many available options. Below are a few things you need to consider before buying health insurance:
- Claim Process
Claim process must be simple and quick, which in turn benefits the insured. Hence, these are considered to be the major factors while selecting the policy. You will also need good customer support.
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- Waiting Period
Insurers mostly have a waiting period for pre-existing diseases. It differs from one insurer to another. Therefore, when you buy a health plan, the waiting period should be kept in mind. It is better that you buy a health insurance plan in your youth. Chances of you filing a claim are statistically less. You can also clear the waiting period with ease.
- Family Health Insurance
When you purchase health insurance plans, keep the number of dependants and their age in mind. Before you buy the insurance, consider their present ailments if any, and also the family’s medical history. You need to check with your family members for any pre-existing diseases before you buy health insurance.
Few other things that you need to consider before buying health insurance are:
- Sum assured value
- Network Hospitals
- Maternity Benefits
- Cumulative bonus
- Lifetime Renewal
- Free Medical Check-up
How to decide the coverage you need?
Getting an insurance cover is animportant aspect of your secure financial future. However, choosing the right cover is equally important.
- Keep in mind your insurance policy is based on your current and projected income. Consider premiums, your medical state, your age, future financial plans, etc.
- Make sure that the insurance covers all your dependents and the majority of health problems as well.
- Pre-existing diseases are usually not covered under health insurance policy. Diabetes is however covered only if the insured renews the policy for 3 or 4 consecutive years.
Identifying your dependent’s financial needs is very important to establish the coverage requirement. All these factors must be kept in mind. Always compare health insurance by using a health insurance premium calculator, look for different plans and choose your cover accordingly.