Best Health Insurance Plans in India 2024
Finding the best health insurance
plan from so many different health insurance companies can get confusing for
many people. While selecting the best health insurance
policy, you must look into the various factors including health
insurance riders, benefits, coverage, network hospitals etc.
Why to Buy Best Health Insurance Policy?
Needless to say, it is imperative
to buy the best health insurance policy, as it helps you to keep up with the
ever-soaring healthcare costs and assures you and your family of a healthy
future without having to worry about the medical bills and hospitalization
expense. And, when it comes to buying health insurance plans, you might get
confused about which plan to buy out of many.
We at Quickinsure can help you
select a best health
insurance plan to meet your requirements. You can compare & select
the best health plan for yourself and your family that will cover medical
expenses including pre & post hospitalization expenses, day-care
expenses,critical illness hospitalization, etc. depending on your preferences.
Types of Health Insurance
Family floater health insurance
– Such plans ensure that a single sum can be made available to all the
individuals under just one policy.
Individual health insurance
– This insurance policy covers the treatment expenditure of a single person.
Health insurance for senior citizens
– These insurance plans can be availed by individuals above the age of 60 years
and are designed to cater to the medical expenses of aged people.
Health insurance for maternity issues
– Pre and postnatal medical expenditures are taken care of under maternity
insurance plans.
Critical illness –
Such insurance plans offer coverage to the extensive medical bills generated
because of a life-threatening disease.
Group health insurance
- Such plans are generally preferred by
companies for their employees.
Top-up health insurance
– If the expenses for your treatment have increased over time, you can go for a
top-up insurance policy over your already existing one.
How To Select The Best Health Insurance Plan in India?
There are a number of factors
that should be considered while buying the best plan. Below mentioned are some
of the primary parameters:
Coverage Offered
An important factor while buying
a health insurance plan
is the comprehensive coverage that it offers. Comprehensive coverage covers the
entire medical expenses and even lowers the out-of-pocket expenses. So, it is
always better to opt for an all-inclusive plan. However, make sure that the
coverage benefits cover only what you require so that you do not have to pay
extra.
Sum insured
It is best to look for policies
that offer the minimum and maximum coverage levels because you are able to
choose the best sum insured to cover expected medical expenses.
Cashless hospitals
The best health insurance plan in
India provides a vast network of hospitals and ensures cashless services. This
can in turn ease your task to locate a network hospital in your area and
benefit from the cashless claims.
Premium
The premium of the policy must be
comparable enough to other insurance plans. However, evaluate both the coverage
benefits and premium charged to decide the premium rate.
Pre-existing waiting period
In the event that you or a member
of your family has a preexisting illness, then it is wise to choose a plan with
a shorter waiting period in order to receive coverage for such illnesses as
soon as possible.
Add-on riders
Many plans let you add optional
riders to your policy in order to improve the coverage. So, look for plans that
have the option of adding extra riders and customise your coverage based on
your needs.
Additionally, you can also look
for monthly health insurance plans if you want to save on health insurance
premium.
Factors Affecting Your Best Health Insurance Plans Premium
Listed below are some factors
affecting your choice of best health plan premium:
Age: An important
factor influencing the premium is age since older people have a higher chance
of falling ill, as per the rule of thumb.
Past Medical History:
In case you have a pre-existing medical illness, then your insurance premium
may get affected and up the cost.
Policy Duration:
The policy tenure is another factor that affects the premium. The longer the
plan will have the lesser the premium, so buy accordingly.
Injurious substances:
It is common for insurers to raise their premium rates for their policies if
the insured smokes, chews tobacco, or snuffs, as they are more concerned if the
insured gets cancer diseases.
Nature of Profession:
High-risk jobs such as construction, or working in hazardous environments with
radiation and chemicals, may require higher premiums since accidents and
cardiovascular diseases are more likely to occur.
How to Compare Health Insurance Policy Online?
Here are some important tips that
will help you make an informed decision while you compare health insurance
plan:
1. Choose an Appropriate Sum Insured:
Considering the annual inflation rate for healthcare, you must choose a health
insurance policy with sufficient sum insured. It is true that health insurance
plans with higher sum insured come at higher premiums but to save on that, you
must not compromise with the sum insured.
2. Provide Correct Details to The
Insurer: You must reveal all the details as asked, about your
health in the proposal form. This because any misrepresentation of information
can lead to trouble at the time of claim settlement. The insurer may also
reject your form if complete information is not provided by you.
3. Consider Factors Affecting Health
Insurance Premium: There are several factors that affect
premium for health insurance policy. These include number of members covered
under the policy, sum insured chosen, policy term chosen, claim settlement
ratio of the insurance company, add-on benefits, premium, and inclusions and
exclusions. It is found that health insurance for senior citizens is generally
higher as they are more prone to falling ill.
4. Reviews: Apart
from checking insurance company’s credibility by checking its Claim Settlement
Ratio and Incurred Claim Ratio, you must also check how the policy buyers are
liking the policy. At Quickinsure, you can check numerous reviews for different
health insurance plans by people who are already covered under it. This will
help you make an informed decision.
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