Monday 15 April 2024
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Best Health Insurance for Individuals

Best Health Insurance for Individuals

Getting hurt or sick is never planned. Yet, modern day lifestyle is striving hard to take people away from healthy living and has also succeeded in doing so, to a great extent. A fast-paced life brings a lot of stress, anxiety, depression and other diseases that take a toll on our physical health. To top it all, medical inflation rates are so high, that failing to hold an adequate health cover can prove to be an extravagant affair. Thus, Health Insurance policies save all your hard earned money by covering your high medical costs. This article will run-through the best of Health Insurance in India. Read on to know more.

Best Health Insurance for Individuals

There are plenty of insurance companies offering exquisite health insurance plans. But, choosing one can be a strenuous exercise. Though, there are a couple of things which can help you buy an individual health insurance plan for yourself.

  • Must cover Pre & Post Hospitalization Expense

The pre and post hospitalization prices must be considered. It is important that along with normal hospitalization cost, the pre and post hospitalization are also covered. Reason being that their cost is quite high. Thus, it is essential to find a plan with both these covers. Also, generally pre-hospitalization is counted for 30 days before hospitalization whereas post is counted for 60 days.

Note: not all insurance companies will offer 30 and 60 days for pre and post hospitalization.

  • Opt for a No Co-pay plan

A co-payment is where you agree to pay the part of medical expense out of your own pocket and the insurer will cover the rest. Many insurance companies like New India, United India, etc. have co-pay clauses. However, one should opt for a no co-pay, to get maximum benefit out of your health insurance policy.

  • Health insurance companies with good claim settlement ratio and process

The claim is an unmanageable process at times thus, it is vital to choose a health insurance provider which has a claim assistance team. Also, the claim settlement ratio plays a very important role in choosing a health insurance policy. Higher the claim settlement ratio, more are the chances of your claim being settled in a hassle-free manner.

  • Compare your health insurance plans

Comparing your health insurance plans will help you find the best health insurance rates, you can have a better understanding of various covers available etc. This, in turn, will help you to zero in on a health insurance plan as per your need.

  • Pre- existing diseases

Health insurance plans come with a waiting period of 2-4 years on the pre-existing diseases. If you have any pre-existing disease, the insurer is not liable to pay for any expense incurred for its treatment during the aforementioned tenure.

Network of Hospitals Offered By the Insurance Companies

With network hospitals, the policyholder can avail cashless claim facility. That literally means the policyholders can visit a network hospital and receive medical care without having to make any payment to the hospital. The medical bills would be settled against the sum insured that was chosen at the time the time of buying a health insurance plan. The advantages of network hospitals are:

  • All the bills will be paid by the insurance company directly once the treatment is completed.
  • In case the insured is to be admitted to a hospital away from home, the hospitals which are a part of the insurer’s network list can be used to treat the policyholder without having to settle bills or make any payments.
  • Also, in case of a medical emergency, if the policyholder is facing financial issues, cashless network hospitals will come to rescue in that case.

Better Way to Get the Best Health Insurance

One can never go wrong in choosing a health insurance policy online. The below points will help you to get the best Health Insurance as per your needs.

  • Check the coverage level

This is the first and foremost thing one should look for. The basic coverage in most of the policies will remain the same while some absolute limits tend to vary in different policies. Thus, it is advisable to choose a plan which has features that you need.

  • Entry age factor

If you wish to invest in a family plan, the entry age is an important factor. Also, for individual plans, age shouldn’t be a matter of concern. .

  • An additional benefit in a health insurance plan

Additional riders or any free benefits like health check-ups etc. can prove very beneficial. Some riders may also add sense or increase the scope of coverage of your health insurance policy.

However, apart from the above factors, one must also look for-

  • Exclusions in the policy
  • Sublimits on the policy
  • And Renewability factor.

Thus, buying an individual health insurance online is a hassle-free process, if one takes the above points into consideration before choosing a health plan.