Tips to find the best health insurance policy

With the kind of lifestyle we live, health insurance policy is a must. Having a health cover ensures you don’t have to bear any financial loss in times of distress. Here are a few tips to find the best health insurance policy in India.

• Check on the current coverage: If you are a working individual, it is likely you are covered under the group mediclaim policy offered by your health insurer. But do you think that coverage is enough for you? If you change your job your policy will no longer be in force and you will be left with no cover to insure your health. What if the new employer doesn't offer you a medical coverage? And even if you have a family floater plan, can you really be dependent on it? Hence, it is important that you assess your current coverage for your health and opt for a medical coverage for your individual requirements.

• Look for health plans online: One of the best ways to purchase a health insurance plan is to do a thorough research online. You can easily check or health insurance plans online in India. Depending on the coverage and premium offered, health insurance plans are now offered in various packages i.e. gold, silver and platinum. It is important you opt for a plan that best suits your premium paying capacity and coverage you require. 

• Opt for add-on covers: To enhance the coverage of your basic health plan, you can add various add-on covers to it. For example, you can opt for add-on covers such as critical illness cover, maternity cover, hospital cash, personal accident, OPD etc. Adding these add-ons provides you extra coverage and ensures you don’t have to pay anything from your pocket at the time of hospitalization.

• Check on the list of network hospitals: Always check on the list of hospitals covered by the insurer as this gives you the benefit of availing cashless treatment. It simply means that you dont have to bear 

• The network of hospitals: While purchasing a policy always check on the network of hospitals covered by the insurance company. This gives you the benefit of cashless treatment so you don’t have to pay any money or wait for any reimbursement. It’s always wise to opt for a cover that covers all the hospitals in your area. 

• Waiting period of a pre-existing disease cover: If you have any pre-existing disease like diabetes, hypertension or kidney failure at the time of policy purchase, then buying a pre-existing disease cover is good as several health insurance policies cover pre-existing diseases after a span of 3-4 years. Insurance companies do not provide you instant coverage for pre-existing diseases.

• Insurance premium: Insurance premium plays a crucial role in determining the benefits of your health insurance policy. Higher the benefits, more the premium. So ideally it’s essential that you compare premium rates online and look for the best plan that provides you with a maximum number of benefits at the lowest premium rates. 

• Claim settlement ratio: Check on the claim settlement ratio of the company as it helps you to avoid rejection of your claims. 

With the above tips, it is also important that you keep in mind your current age, health status, financial position and only then make a purchase. Don’t forget to read the terms and conditions of the policy before zeroing down on it.