Several companies offer varied types of health insurance. Every insurer sets its own set of terms and conditions. Some focus on profits and others on providing genuine services. Considering the huge array of available insurance products in the market, customers find it highly cumbersome to zero in on one that best fits their health insurance needs.
Given below are some pointers that can assist someone toward purchasing a good health insurance plan.
- Check whether the policy fits your needs
Prepare a list of your needs, including policy period, premium, basic coverage, top-up plan and compare with your selected policies to ascertain, which one best fits your need hierarchy.
- Prioritize coverage over premium
Some people prefer a health insurance policy that incurs lesser premium and in the process forget to pay enough attention to the fact whether the policy provides them enough coverage or not. Hence, ensure your healthcare coverage is adequate enough to suit your medical requirements and the policy you are buying insures you for a longer period.
- Individual plan vs. group mediclaim policy
Customers are often at sea on whether they should purchase an individual plan for each of their family members or purchase a group health insurance. Such ambiguities can be resolved, especially when all the members in the family fall under the age group of 50 and are hale and healthy. In such scenarios, a joint policy is usually the better option.
In stark contrast, if a few members in the family are aged above 50, then an individual plan will be more suitable, as the elderly usually need more health healthcare attention then a younger member of a family.
- Cashless claims
- Know your Policy – check coverage for pre-existing diseases
- Insurer’s network hospitals