Follow These Five Useful Tips When Buying Medical Insurance
Staying in the pink of health all the time can be difficult, given the hectic lifestyle and harsh environmental factors. Illnesses come unannounced and the huge costs of getting medical treatment can drain out our life savings in a moment. One affordable solution to manage this problem is to buy a medical insurance plan.
However, the challenge for many people while buying medical insurance is to identify the right policy that will fulfill their needs in the best possible way. With so many health insurance products available in the market, a lot of buyers get confused when making a sensible choice.
Here are some useful tips to clear the confusion and help you choose the best health insurance plan for you and your family.
Go for High Sum Insured
Pick a medical plan that offers good coverage in terms of the sum insured. Age is a vital factor that should be taken into consideration. Compared to younger people, the elderly have higher health risks and chances of getting illnesses and hospitalization also increases in old age.
Another factor to note is the place you reside in. If you are living in metro cities, go for a family floater policy that offers high coverage amount, say Rs 10 lakh.
Assess Your Health Needs
The first step to finding the right medical plan is to clearly identify the healthcare needs of you and your family. Consider the number of members in your family and their age, and then go for a suitable family floater plan that offers cover for an individual, spouse and kids.
However, if you have aging parents at home, select a health insurance for senior citizen which is specifically designed for treatment costs for age-related illnesses. Moreover, there are specific health policies available especially for people with pre-existing diseases like diabetes and hypertension.
Look for Cashless Hospitalisation Feature
Availing cashless treatment in any of the network hospitals of the insurer is an affordable and convenient option for a policyholder. Thus, you must choose a policy from an insurer having a wide network of hospitals. Identify the hospitals closest to your location, especially if you live in remote areas.
Ask your insurer whether you have the option of cashless hospitalization which will save you from the hassle of arranging finances and paperwork at the time of hospitalization.
Find out the Sub-Limits in Your Policy
In various medical policies, there are sub-limits on expenses such as doctor fees, day-care treatments, diagnostic tests, and hospital room rent. For instance, ‘Care Freedom’ by Care Health Insurance (Formerly Religare Health Insurance) has a sub-limit on ICU charges up to 2% of SI per day.
Whenever you are opting for a medical policy, make sure you get the highest possible coverage for these scenarios in the sub-limits specified. Otherwise, it may lead to out-of-pocket expenses.
Says Yes to Affordable Premiums
It is advisable to compare various policies on different parameters including the premium costs. Analyze the benefits you would be getting for the premium you are going to pay. Look for health policies with maximum benefits for affordable premiums.
Yet, if paying a high premium will bring you benefits like cover for pre-existing diseases and vaccination costs, it is better to opt for such plans.
Make the best decision of your life by choosing to ensure your family’s health with medical insurance from Care Health Insurance (Formerly Religare Health Insurance).