Tips to choose the best health insurance plan in India

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Tips to choose the best health insurance plan in India

Ever since the outbreak of COVID-19, we all have become extra conscious about our health. Even if you check the social posts of your friends, you will find many of them sharing their workout videos and indulging in eating healthy. While doing all this, what we forget is buying a very important thing for us and our family, which is a health insurance policy. Once you have a health insurance policy, you can be rest assured that even if you have to be hospitalized, you do not need to pay all the bills from your pockets. The finances will be taken care of by the insurance provider. However, if the bill is more than the sum assured in the health insurance policy, the extra amount has to be paid by you.

When it is about choosing a health insurance plan, it often becomes very confusing for the policy buyers. If you too are perplexed, this piece of information will be helpful for you. Here are some of the tips that you should follow while choosing a health insurance plan in India.

Affordability

It is quite important to purchase a health insurance plan; however, it is also very important that it is within your budget. Therefore, you need to be very sure about your budget and also certain about the premium that you can continue to pay. The budget should match the benefits of the plan. If you are buying a health insurance policy for the first time, you should consider a reasonably priced health insurance plan which provides you almost all the average benefits. If after some years you think you can put more money into a health insurance policy, you can review the plan and even increase the cover.

Right coverage

Choosing the right coverage is very important, whether you are taking a high budget or low budget plan. The health insurance plan you choose should secure you against several types of medical problems and also provide you various kinds of benefits such as daycare expenses, illnesses, transportation, post-hospitalization, etc. While doing this, you also must consider your needs, compare all the benefits and costs of the plan, and accordingly choose a plan.

Family floater over individual health insurance plan

If you have a family to support, you must consider a family floater plan over an individual health insurance plan. This will save you a lot of money and also can be managed from one account. Along with this, you will also be able to receive several benefits.

A policy with lifetime renewability

As you purchase a health insurance plan, you need to ensure checking the years that the policy will provide you coverage. You should also check if its offers limited renewability. This is important to do since health insurance policies are mostly needed in the laters stag of life. Therefore, make sure you choose a health insurance plan that offers you lifetime renewability.

Network hospital coverage

Checking the network hospital is very important as you will be able to know if you can get your treatment in a hospital you prefer. You can also find out if any of the network hospitals are near your residence or not since in an emergency this can be very helpful. You should opt for a health insurance provider that offers a wide range of network hospitals.

Claim settlement ratio

The claim settlement ratio determines the number of claims that have been settled by the insurer over the total number of claims that have been received. You need to make sure that you choose the insurance provider with the highest claim settlement ratio.

Once you keep these points into consideration, you can very easily choose a health insurance policy. To find the maximum number of health insurance policies under one umbrella, you can visit the website of IIFL.

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