Health insurance is a type of insurance that covers medical expenses that arise due to an illness. These expenses could be related to hospitalisation costs, cost of medicines or doctor consultation fees.The Best Health Insurance Company In India are those who offer best to there buyers.
Things to Consider Before Buying Health Insurance
Buying Health insurance is an imperative decision. It requires a lot of insights about it. There are a lot of firms selling Health insurance in India. Before confirming , one must zero in on a plan. You should be well aware of the type of insurance plans.It must have the right approach and guidance. Below is the run down on the things one must consider, before buying health insurance.
1.Family Health Insurance
When it comes to buying a health insurance policy for your family . Ensuring your family medical history , pre- existing diseases and their age in mind. You can choose to cover everybody under a single-family floater policy. Also, could choose to get individual health insurance plans for each family member. Opting for a family floater, will divide your sum assured amongst all the family members under the policy.
2.The Amount of Cover You need to get in Insurance Policy
Firstly, it comes to the amounts of insurance policy, analysing our monthly / yearly income is an absolute decision. Not everyone has deep pockets to bear the costs of daily expenses . It would be wise to select the amount sensibly. Make sure to choose a sum insured which won’t fall short. In any case of an emergency and whose premium is not too exorbitant.
3. Claim Facility
You must perceive the claim process and the documents you will require for claim initiation. Moreover, they also offer cashless facilities. In which you can avail of medical services without paying for it. The simpler the claims process and the faster the settlement of the claims, the better it is for the insured.
4. Network hospitals
You should check the insurance provider’s list of network hospitals.Most providers have a well-connected network of hospitals where insured individuals get treatment done without having to pay anything upfront.
5.Maternity benefits
Most of the regular health insurance policies might not cover the full cost of pregnancy. In such a case, one may opt for an individual health insurance policy with a maternity benefit cover. It is crucial for women to buy a health insurance plan that offers maternity benefits. For maternity benefits, one should carefully look into the waiting period applicable for claiming maternity expenses and consider the sub-limit.
6.Maximum sum insured
It is an amount that you need to choose at the time of buying the life insurance policy. There are plans where this amount can increase or decrease over the policy .With rising medical costs in the twilight of life, the maximum sum insured makes a lot of Sense.
7. Pre and Post hospitalization expenses
The expense of medical costs incurred by the insured before getting admitted in a hospital . Similarly, expenses for medicine, bed , any surgery will be given . Also, expenses are medical costs incurred after discharge from the hospital. These are covered by most health insurers.
What is covered in Health Insurance ?
If you are young ,hale and hearty then getting health insurance would be a wise decision to make. Health risks and uncertainties are a part of life. Health insurance can reimburse the insured for expenses incurred from illness or injury, or pay the care provider directly. So Choose The Best Health Insurance Company In India who cover every basic needs of your health and your family.
Sum Insured Rebound
It is a benefit that allows an insured to reinstate the entire sum insured in the policy year when it gets exhausted due to incurred claims. Most of the health plans these days offer the ‘restoration benefit’. It is just like a ‘magical backup’ to recharge your exhausted sum insured. In case the entire cover is exhausted, it gets replenished automatically for the next hospitalization that occurs within the policy year.
Cumulative Bonus
There are some companies, who offer additional sums insured as a reward . If you do not make a claim in a policy year by increasing your sum insured.
Medical Tests
Health insurance with no medical tests are blatantly used as a catchy ads for buyer. Although, you could go with it if you are not fond of medical tests. But it is not worthy, buying health insurance with a proper medical tests would be the best choice to take.
Hospitalization Expenses
It covers payments for hospital stays, outpatient medical treatment, surgery, or any hospital-related activity that involves the insured’s health.
Cashless Home Healthcare
Even after post- hospitalization, your medicine expenses and bills come under it.
Mental health care benefits.
The benefits under health insurance with mental illness cover are similar to a normal health plan . It covers hospitalization expenses. Also, other treatment costs as listed in the policy wordings.
Restore Benefits
However, it is also called recovery Benefits . Of course, many people doesn’t know about it. If the insured was hospitalized for 10 or more days. He was unable to earn in the meantime. Therefore, It is give to the insured to take care of his household expenses. Health insurance company in india, are always seen to give this
Why must you get a Health insurance ?
Because health Insurance is a necessity.
The entire concept of insurance is basically to protect yourself from unforeseen financial liabilities, in case things go south.The current COVID-19 pandemic has made the entire world sit up and realise that medical emergencies are unpredictable . The uncertainties in life are not foreseen. It is better to always be prepared for the worst outcomes possible. Besides, it is not all about pandemics, it includes our family health and needed protection at times. Apart from the obvious benefits, it is highly beneficial when it comes to beating medical treatment inflation. So, keep everything in mind and Choose The Best Health Insurance Company In India For your family.
Right Age To Buy Health Insurance :
There is a common dilemma among people about the right age to buy a health insurance policy. However, there’s no right age to buy one. Getting health cover early offers you several benefits.
Whereas, experts recommend that you purchase a health plan as soon as you are 18 years old. Not only his allows you to accumulate the cumulative benefits (for every claim-free year) by the time you are older, but you can also of a higher coverage. So be quick and Choose The Best Health Insurance Company In India.
Different Health Insurance Companies in India:
There are uncountable companies offering health insurance plans. According, the plans and claims differ with different companies. Hence, it is difficult to choose any one . Given below is the list of different health insurance companies.
Read to know How To Choose The Best Health Insurance Company In India .
1. Bajaj Allianz General Insurance Company Limited:
Company Information :
A joint venture between Bajaj Finserv and Allianz SE, Bajaj Allianz offers various types of general insurance plans, health insurance being one of them.
Popular Plans:
Care – this plan comes in many variants with sum insured levels going as high as Rs.6 crores.
Joy – a specially-designed maternity health plan, Joy covers maternity expenses after a very short waiting period of 9 months only.
Care freedom – this plan is a senior citizen health plan which is available without any medical check-ups.
2. The New India Assurance Company Limited
Company profile:
A government backed company New India is a trusted name in the health insurance industry. It offers a range of health plans with varying coverage levels and benefits.
Popular Plans:
1.New India Mediclaim Policy – The policy is a comprehensive health plan which provides all the basic coverage features at affordable premium rates.
2.Asha Kiran – a health plan with the aim of providing coverage for the girl child, the plan is available to parents of a girl child.
3.Cancer medical expenses individual – a cancer oriented health plan which aims to pay for cancer related expenses.
3.Star Health and Allied Insurance Company Limited:
Company Profile:
Star Health is another leading name in the health insurance sector. This is a standalone health insurer with a gamut of health insurance products in its kitty too.
Popular Plans
1.Family Health Optima – a family floater plan which offers sum insured restoration features and comes at affordable premiums.
2.Senior citizens red carpet health insurance policy
4.TATA AIG General Insurance Company Limited:
Company Profile:
Popular Plans:
1.Mediprime – a health plan which covers all health insurance features.
2.Wellsurance Woman – a women oriented health plan which covers 11 critical illnesses pertaining to women.
3.Medisenior – a senior citizen health plan with cashless coverage across 3000+ hospitals.
5.Bharti AXA General Insurance Company Limited
Company Profile:
The company is a venture between Bharti Enterprises and AXA Group and offers a lot of general insurance products.
Popular Plans:
1.Smart Super Health Insurance Policy – coverage under this policy is available for up to Rs.1 crore and there is no capping on room rent
2.Smart Health Insurance Policy – this plan allows coverage for up to Rs.5 lakhs and has an inbuilt critical illness cover
6.Manipal Cigna Health Insurance Company Limited
Company Profile:
Popular Plans:
1.Cigna TTK ProHealth Insurance – a lot of variants are offered in the Pro Health category. Each plan comes with a different sum insured level suiting different coverage needs.
2.Lifestyle Protection Critical Care – two plans are available with 15 and 30 illnesses covered under the two variants.
3.Pro Health Cash – a health plan providing fixed benefits on each day of hospitalisation.
7.Reliance General Insurance Company Limited
Company Profile:
Reliance is a leading name in the Indian industrial sector. Its general insurance arm offers a wide variety of products including health insurance.
Popular Plans:
1.Health Gain – a health plan which gives attractive premium discounts to make the premiums affordable.
2.Critical illness plan – the plan covers 10 major illnesses with coverage of up to Rs.10 lakhs.
Insurance in India can be broadly divided into categories:
Life insurance:
As the name suggests, life insurance is insurance on your life. You buy life insurance to make sure your dependents are financially secured in the event of your untimely demise.
In addition to this , it is important if you are the sole breadwinner for your family or if your family is heavily reliant on your income. Also, the policyholder’s family is financially compensated. n case the policyholder expires during the term of the policy.
Health insurance
Health insurance is bought to cover medical costs for expensive treatments. Different types of health insurance policies cover an array of diseases and ailments. Also, You can buy a generic health insurance policy policies for specific diseases. The premium paid towards a health insurance policy usually covers treatment, hospitalization and medication costs.
Car insurance
In today’s world, car insurance is an important policy for every car owner. This insurance protects you against any untoward incident like accidents. Some policies also compensate for damages to your car during natural calamities like floods or earthquakes. It also covers third-party liability where you have to pay damages to other vehicle owners.
Education Insurance
The child education insurance is akin to a life insurance policy which has been specially designed as a saving tool. Furthermore, an education insurance can be a great way to provide a lump sum amount of money. Hence, if child reaches the age for higher education and gains entry into college (18 years and above).
Also, This fund can then be used to pay for your child’s higher education expenses. Additionally, child is the life assured or the recipient of the funds. the parent/legal guardian is the owner of the policy. You can estimate the amount of money that will go into funding your children’s higher education using the Education Planning Calculator.
Home insurance
We all dream of owning our own homes. Home insurance can help with covering loss or damage caused to your home. Because of like fire and other natural calamities or from too . Besides , insurance covers other instances like lightning, earthquakes etc.
Travel Insurance
Ideally, people plan travel insurance for unfortunate events . Like, baggage loss, passport loss, a medical emergency , an accident can affect your travel .
Conclusion:
Insurance, be it of any form, helps to compensate for the damage that was caused by any source. In today’s dynamic world insurance has become a part of living. If you choose The Best Health Insurance Company In India acts like a quick fix for any sort of damage done. Further , it improves standards of living and covers up insecurities.
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