How do you choose health insurance?

How to Evaluate and Select the Best Health Insurance Plan

There are hundreds of insurance policies available to choose from. In fact, there are tens of types of health insurance. Which one is suitable for you? Which of the top insurance companies should you go with? Confused? Well, not anymore. Here is what you should do to choose before you learn how to apply for mediclaim.

Learn what types of health insurance are available

The first step is to know what options you have to get medical coverage. It is logical to learn the types and what benefits they offer before you make a buying decision. The popular types of health insurance policies are:

Individual policies
Family policies
Personal accident coverage
Critical illnesses
Senior citizen plans
Maternity coverage plans
Health insurance plus investment benefits, etc

Know what these plans are by understanding what they cover. It is then you can easily identify what you need.

What do you want in your health insurance policy?

Do you want to cover your health expenses or the entire family? Do you want a plan for your ageing parents? Well, you will find multiple such plans made by the top insurance providers in India. Consider these factors and find out what you need.

Age of the members you want to insure
Number of members you want to insure
Are there any existing critical illnesses?
Do you want to go cashless or just mediclaim?
Do you want to cover pre and post-hospitalisation expenses?

These common factors often create confusion among new policy seekers. Find your answers and start looking for a health insurance policy.

List the names and compare the plans

The next step is to list the names of the best health insurance companies in India. Once you are done with the list, find the policies that match your requirements. Compare those policies by checking the following points.

Premium you have to pay
Claim settlement ratio
Medical coverage and annual capping limit
Hospitals in its network
Waiting period
Pre and post-hospitalisation benefits
Tax benefits
Investment benefits
No-claim bonus
Cashless treatment options, etc

These factors will help you decide which health insurance policy is ideal for you.

Talk to the representatives for query resolution

You will surely have multiple queries. Talk to the respective representatives of these service providers. Resolve the queries and make it clear about the health insurance policies you are interested in. Learn how to apply health insurance online or in person from them.
Don’t forget to learn how to use the insurance during medical emergencies. In fact, check whether they provide good customer support when you need it or not.

Learn how to apply for medical insurance

Find out what you need to apply for health insurance. You can either request an executive to visit your address or do it online. All you need is a set of documents ready for both cases.

This is how you can compare and choose the best health insurance policy for you or your family.