A comprehensive checklist for first-time health insurance buyers


Isn’t it reassuring to know that you and your family have a financial safety net if your health takes an unexpected turn? While promising access to quality medical care, health coverages take the stress out of having a large sum of money on hand during a medical emergency.

However, shopping for a health insurance plan can seem like a daunting exercise for a beginner. You may need to compare many health insurance policies based on their benefits, sum insured, premium, claims process, and other factors. The good news is that you only need to evaluate a few things to make the right choice. The best place to start is to decide what you would like to see covered by your health insurance plan. You need basic hospitalization coverage or protection against chronic conditions like cancer, stroke, etc. ? Are you also looking for coverage for OPD and COVID-19 treatments? By listing your current expectations, you can find a health insurance policy tailored to your needs.

To help you choose the best suitable medical insurance, here is a compiled list of tips that will come in handy when comparing health insurance policies online –

The sum insured must provide sufficient cover: Before purchasing health insurance for your family, make sure that the plan’s sum insured is sufficient to meet the medical needs of your entire family. Consider the age of family members, pre-existing conditions (if any), etc.

Easy Claims Process: The simpler the claims process, the faster the claim is settled. Choose a health insurer that has a transparent and fast claims process. To find such insurers, policyholders should read customer reviews or research the company’s track record in this regard.

Read also : Is your health insurance sufficient to cover the “Omicron” variant Covid-19?

Know the amount of the premium: The premium is the amount you must pay your insurer to keep your policy active. It increases with the increase in the sum insured. Also, if you choose add-ons, your family’s health insurance policy premium will be higher.

Free medical visits: It is always better to choose a policy that offers a free medical visit to the insured. Also, when renewing policies, this additional feature does not affect the premium.

Cashless network hospitals: Always check with your health insurance company about their network of hospitals and other cashless health centers. With the cashless service, policyholders avoid having to first pay their bills and then seek reimbursement, because their insurer settles their bills directly with the hospital, if it is the network. Thus, it is important to choose an insurer with a large number of hospitals in the network to help you in the event of a medical emergency.

Pre and post-hospitalization: Pre-hospitalization costs include costs such as medical examinations performed before a person is admitted to hospital. All relevant expenses or charges incurred by an individual after hospitalization are included in post-hospitalization expenses. Make sure your plan includes pre- and post-hospitalization coverage, as these expenses could add up to a considerable amount.

Waiting time: In most cases, insurers impose a waiting period for pre-existing conditions. Be aware of the waiting period in advance, as not all illnesses are covered from the first day your policy takes effect. During the waiting period, you will not be able to claim reimbursement for these conditions. Therefore, choose a health insurance plan with a short waiting period, especially for conditions you may have a predisposition to.

Know the policy exclusions: You should be aware of medical procedures and conditions that your health insurance plan does not cover, just as you should be aware of the benefits of the plan. Take the time to read the list of exclusions before deciding on your plan.

We all aim to live happily, despite the possibility of medical emergencies that can arise at any time. With health care costs rising, it’s more important than ever to get comprehensive health coverage. Get a health insurance policy today to protect yourself from financial instability.

Health Insurance is a specialized health insurer offering health insurance services to companies, individuals and financial inclusion employees. Care Health Insurance currently offers products in the retail segment for health insurance, critical illness, international travel insurance, maternity, etc. So don’t wait any longer to protect yourself and your finances and get the most out of your money by selecting ideal health. coverage provided by one of the best health insurance companies in India at a relatively low premium.

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