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  • Post published:26/08/2021
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7 Important Tips for Choosing a Health Insurance Plan in India

Choosing a health insurance plan is an important decision that can have a significant impact on your finances. While the process of selecting a health insurance policy might seem daunting, this article will provide you with some tips and tricks for finding the perfect policy. We’ll start by discussing which best health insurer in India you should choose.

Let’s take a look at these tips.

Amber Fort - Jaipur, India

Amber Fort – Jaipur, India

1 – Affordable price

This is one of the most important factors to consider when choosing a health insurance plan. It’s always wise to look for plans that are as affordable as possible, so you can save some money without having too much worry about healthcare costs in the future. However, it’s not just about looking at premiums. You also need to take a look at co-payments and deductibles, which might eat up your finances.

When choosing health insurance in India, make sure that you always go for an affordably priced insurance plan.

2 – Choose a plan with lifetime renewability

If you are a long-term resident in India, then it is essential to choose an insurance plan that covers your needs for the duration of your stay. A health insurance company should offer lifetime renewability and not charge higher prices based on past medical history. This will ensure that you will be covered if there is a change in circumstances, such as moving back overseas or becoming disabled.

3 – Network hospital coverage

Network hospital coverage is the most basic type of health insurance available. It covers only hospitals and medical centres that have agreed to a contract with your insurer. If you have network hospital coverage, then your insurer will only pay for a portion of the treatment costs, and it may also require you to make an out-of-pocket payment per day or as a percentage.

4 – Settle On for the right coverage

Most importantly, you need to settle on the right coverage that matches your needs. This can vary from full hospitalization insurance packages for those at risk of developing severe illnesses in their lifetime to one time coverage for accidents or high-risk pregnancies.

5 – Prefer family health plans

Family health plans are a good choice if any other medical insurance does not cover your family. They typically provide coverage for the whole family, and some even have an additional rider or riders to cover specific needs like dental care, injuries resulting from accidents and more.

6 – Compare quotes online

Healthcare companies publish their quotes online and allow individuals to compare them with the policies from other providers. Compare prices, benefits, co-pays, deductibles, etcetera to make an informed decision about which plan best suits your needs.

7 – High claim settlement ratio

One of the most critical factors to look for in health insurance is the claim settlement ratio. This means that if you need an expensive surgery, how likely will your insurer be able to pay for it? A high number indicates good customer service and satisfaction, whereas a low number might indicate increased difficulty getting claims paid out.

The Bottom Line

Health insurance isn’t the only benefit of having a job. Financial security, paid time off, and even retirement benefits are also part of what you get if you work for an employer in India. But it’s important to know that not all jobs offer health care coverage either as a fringe benefit or as a mandatory requirement; many jobs in the gig economy offer no coverage at all.

Photo Credit

Image by D Mz from Pixabay


Guest Author Bio
Divya Gandotra

I like to observe things closely, and my writing comes from the aspects hidden in daily lives. I am passionate about writing and love to elevate every brand’s value with my skills. It’s been 5 years that I am managing a content development agency of my own, mastering the best of both Worlds.

 

 

 

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