Which Medical Insurance is Best?

Identifying the Best Medical Insurance Policy for You

When a person picks the right medical insurance for their individual or family needs, they can stay totally worry-free from abrupt hospitalisation charges. A standard medical insurance policy offers cashless healthcare services across top hospitals and clinical establishments across your city.

 
Ways to Identify the Best Medical Insurance Policy

One's circumstances and specific needs determine which medical insurance plan is going to suit their needs the most. 

However, you can consider these three primary factors when selecting a plan:

1.Comprehensive Coverage
Your plan needs to cover a wide range of expenses arising from surgeries, hospitalisation, doctor's fees, diagnostic tests, and many other things. Plus, the coverage needs to be good enough to handle rising healthcare costs and give you a substantial financial cushion in times of emergencies.

2.Critical Illness Coverage
A plan that provides additional coverage for certain lifestyle diseases, which can prove fatal, may appear more beneficial to some people. These include critical illness insurance related to cancer, stroke, heart attack, renal failure, etc. 

Note: Critical illness insurance plans come with a waiting period of 30 - 120 days. Therefore, to ensure timely payment of medical bills, ensure to read the policy terms before signing up. 

3.Cashless Hospitalisation
The best medical insurance providers tie up with a vast network of hospitals to facilitate cashless treatment to their clients. Most of them even offer built-in coverage for disposable medical kit items such as gloves, buds, nebulisation kits, and other consumables that a patient would need during their hospitalisation. 

4.Network Hospitals
Look for a medical insurance plan with a large network of hospitals, ensuring you have access to quality healthcare. An extensive network includes hospitals located in different areas, especially close to your home, workplace, or commonly visited places. This helps you get medical help without having to travel far, allowing you to receive timely treatment. 

What is the Minimum Health Insurance Cover Needed?

Typically, if you follow the rule of thumb, then it is suggested to go for coverage that is close to half of your annual income. It means if you earn ₹5 Lakhs per annum, then a ₹2.5 Lakhs medical insurance policy may be the ideal option for you. 

However, the above recommendation is just a guideline. It will ultimately depend on your situation, especially if you are the only one pursuing a full-time income in a family of 3 or more.

In case you need an extensive family health plan, Star Health has lots of good options to choose from. Here, you can separately read about what the different plans have to offer, their key highlighted features, and, most importantly, the eligibility criteria for applying for these policies. 

Therefore, you can get your documents ready and finally get the medical insurance policy that you and your loved ones truly deserve!