Tips to buy the right health insurance policy

Tips to buy the right health insurance policy

We present easy tips to pick the right health insurance plan that benefits you and your loved ones.

Buying health insurance has become vital today. Stress, constant deadlines, lack of rest and sufficient sleep, and a poor diet all contribute towards making you vulnerable to illness. However, some people develop serious disorders over time, treating which can be quite expensive. Treatment is also needed when you meet with an accident.

But picking the right health insurance policy can get quite tricky, and mostly because there is so much choice! Consider the following tips to select the right health plan:

* Buy it when you are young. Buying the health insurance plan at a young age has a few important advantages. One, insurers are pleased to extend health insurance to younger age groups, preferably those who are non-smokers without any existing health problems. Second, the premiums are lower for younger applicants, aged less than 30 years. Also, the sum assured is higher since the tenure is more. The overall plan becomes a valuable proposition for younger applicants.

* Buy the policy online.Insurers encourage customers to buy health insurance online. Leading insurers in India offer their health plans online, in an easy-to-understand format and with all important details clearly mentioned. After perusing the policy document, you are equipped with enough knowledge to proceed with the purchase at once. However, though you may fill the application form online, you may have to submit to a medical test at an empanelled hospital/clinic before the policy is deemed as purchased. The policy becomes active on payment of the first premium.

* Look for as many benefits as you can find in the policy.Many people take health insurance in India, but they are scared of the premium becoming expensive if they include too many benefits and riders in it. But this is counterproductive – if you want a high sum assured and a comprehensive policy that covers all the bases, then you may have to shell out some more money for higher premiums. The good news is that there are several affordable health insurance plans in India that offer several different benefits.

* Try to include critical illness insurance. The incidence of life-threatening conditions like cancer and terminal heart disease is on the rise. Even younger age groups are falling prey to a host of critical ailments. These serious diseases are quite expensive to treat, and those without a critical illness health plan may find themselves grasping at straws to pay for the treatment. When buying a health insurance plan, see if it has critical illness insurance as an added component. If there isn’t, it is a wise move to invest in a critical illness plan if you have a history of serious diseases in the family. The policy pays for diagnostic tests, treatment, hospitalisation, surgery, and post-operative care.

* Get a family health plan. You might take an individual health plan if you are single and unattached. But if you have a family with dependents, then a family health insurance plan is better. You pay a single premium towards securing the health of all of your family members (retired parents, spouse and children) while the benefits of the plan are equally extended to all. Thus, the plan is affordable and comprehensively designed.

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