Medical issues are inevitable part of life but the cost of treatment often takes a toll on the family. For this reason, health insurance is an insurance you must have. To keep yourself and your family members well protected get the best medical insurance by keeping the following facts in mind.
What types of insurance is being provided?
Does your health insurance cover provide only reimbursements or also cashless treatment? This is one of the most crucial questions you must ask yourself before purchasing insurance. As the name suggests, in case of reimbursement the insured needs to pay for the treatment and then submit the medical bills to the insurer to get the money back. In case of cashless treatment the insurer takes care of all the expenses when the insured is hospitalized.
Is the insurance well networked?
Instead of reimbursements what we need more during medical exigencies is cashless treatment. So choose a health insurance company which has a wide range of network with standard hospitals and nursing homes around the country.
Is the health insurance right for you?
There are multiple medical insurance schemes available in the market and it is utmost important that you choose the right policy. If you are single opt for the personal health insurance; there are policies to cover the whole family or provide individual protection to the family members. The health insurance claim amount generally ranges between Rs. 1 lakh to Rs. 5 lakh; choose one after considering not only the present condition but also keeping in mind the fact that the cost of treatment will rise in future.
Are there any additional protections?
Pre and post hospitalization expenses are the standard items covered under the health insurance policy. Check whether your mediclaim policy covers additional expenses like maternity and new born expenses or costs related to day care procedure. There are special insurance schemes which cover expenses when any critical illness is diagnosed.
Is the premium affordable?
Health insurance policy is just not a matter of a year or two; it is a matter of whole life. For this reason choose an insurance policy with an affordable premium. Some companies also offer additional benefits like discounts on the premium if it is for multiple years. If there is no claim made in a year then many insurance companies even allow a certain percentage of the claim to be carried forward to the consecutive years. One of the premium factors on which the health insurance depends is on the age of the insured, addictions, BMI etc.; if the age is more the premium will be more. For it is advisable that you start a health insurance at an early age. At present, the health insurance plans available in India range in Rs. 5000 to Rs. 50,00,000, depending on the number of diseases covered. The family floater plans are usually more expensive than the individual plans.
So do not let medical expenses create more stress in your life. Get a perfect medical insurance today and stop hassles of last minute cash arrangements.