Medical emergencies are unpredictable in life. Trends show that Indian healthcare expenses are rising, making health insurance necessary. With so many options, finding the right insurance policy can be confusing. We’ve made it easy.
Here are the top 10 points to consider when buying health insurance for yourself and your family:
1. Age requirements
Health insurance depends on age. Consider the ages of family members when buying a medical policy. A family floater policy’s premium depends on the eldest family member’s age. When buying health insurance, check the age limit. Some health plans have a 91-day minimum entry age and a 60-year maximum. Plans have a 25-to-50-year age range. There are plans without entry age restrictions. You can choose.
2. Premium/coverage balance
Low-cost health insurance is lucrative. But it has two sides. If it provides extensive coverage at an affordable premium, the policy may be good. Insurance coverage is sacrificed for lower premiums. Thus, the best strategy is to determine why a premium is lower without compromising insurance coverage. Check for co-payments, deductibles, and sub-limits, which could increase your claim costs. You should buy a policy with enough coverage, benefits, and an affordable premium. *
3. Delay clause
The waiting period clause will help you decide. This period excludes pre-existing and specific illness claims from the insurer. Depending on the insurer and plan, it can be 24–48 months. After this period, you can claim benefits. This waiting period applies to pre-existing conditions like thyroid, blood pressure, diabetes, etc. It also applies to arthritis, varicose veins, cataracts, etc. Thus, you can compare plans on a health insurance app with a minimum waiting period for health emergency benefits.
4. Cashless hospitalisation benefits
Health insurance companies have network hospitals where insured members can receive cashless emergency care. It reduces admission and claims paperwork. The insurer pays the hospital directly. So you don’t need to arrange funds and file for reimbursement. Check with your insurer for a list of empanelled hospitals in your area. *
5. Pre/post hospitalisation coverage
Most health plans cover hospitalisation costs. To save on ambulance fees, medical tests, medicines, doctor fees, and more, buy a plan that covers pre- and post-hospitalisation expenses. Check these on a health insurance app. * ##
6. Maternity coverage
Many people overlook health insurance maternity benefits. Buy a health plan that covers maternity expenses. Benefits are usually available after 2–4 years. If you want to get married or start a family in three years, a two-year plan will work. Choose a plan that covers newborn medical costs in addition to delivery. Check its restrictions too. *
7. Cumulative bonus
Insurance companies offer Cumulative concessions for years without claims. All claim-free years increase your coverage at renewal. Most health insurers specify the CB limit. The insurer’s limit determines the sum insured increases. Check this on the bajaj health insurance app. *
8. Wellness centre
Even preventive health check-ups for cardiovascular diseases, cancer screenings, MRIs, etc., are more expensive. Why not have your health insurance cover it and pay for it? You can save some money there. Check the preventive health check-up limit when choosing a medical insurance policy. ##
9. Co-payment
This term confuses many buyers. It is the percentage of the claim you must pay, with the insurer covering the rest. Before signing your mediclaim policy, check for co-payment clauses that may affect your claim. Buy a plan without sub-limits. Most insurers require a co-payment if you have pre-existing conditions or are over a certain age. *
10. Claim procedure
Review the policy and the insurance company’s health insurance claim process. Research, read customer reviews, and choose a health insurance provider with a good claim settlement record like the caringly yours bajaj allianz policy download. *
* Standard T&C Apply
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
