What’s the Benefit of Comparing Before You Buy Health Insurance?


what s the benefit of comparing before you buy health insurance


As we all know, quality healthcare is expensive. But if you are armed with the right health insurance plan, you can sail through the adversity. In addition to giving you a number of benefits like cashless hospitalization, pre- and post-hospitalization cover, annual health check-up, it also doubles up as a tax-saving investment, letting you save tax. It is for this reason that health insurance is an essential part of your health insurance portfolio. 

>>Click Here to Read Handy Guide to Save Tax

Why Compare Health Insurance Plan Before Buying?

Comparing health insurance plans before you finally pick one is crucial. Here are four reasons why you should do it: -

To Get Affordable Premium 

Affordability is one of the major considerations when you are planning to buy a health insurance policy. Depending on your financial flexibility and healthcare needs, be it individual or for family, your policy premium will be a crucial aspect. 

To Get the Best Plan as Per Requirement 

There are multiple health insurance plans available with distinct benefits and features. A careful comparison of insurance plans will help you channelize your requirements and pick according to your needs. Do not go by “best of all policies” advertisement as every policy is different. 

To Make an Informed Decision 

While comparing, you will get to know a lot about health coverage provided by these policies. It will also help you understand key factors like the waiting period, claim process, inclusions and exclusions, among others. All this taken together will help you in making a sensible decision. 

To Learn About Additional Benefits 

Many health insurance plans include special features in addition to the standard ones. For instance, there are many policies which also cover AYUSH or alternative medicine treatments. These might go unnoticed otherwise, but when you compare, you can comprehend the points of coverage that you can benefit from. 

Before Choosing a Health Insurance Plan 

Once you have filtered and narrowed down your options, here are the things you should look for: -

The Insurance Company: Check customer reviews online in terms of how active is its customer support and efficiency of claim settlement. 

List of Network Hospitals: Cashless treatments under a health insurance cover can only happen at a network hospital. That is why it is ideal to check the list of network hospitals before investing in a plan. Keep a lookout for network hospitals that are easily accessible. 

Recharge of Sum Insured: There is a possibility for a person to face hospitalisation which might exhaust the amount of sum insured. A feature like ‘recharge of sum insured’ once within a policy term can be a boon in cases like these. 

Lifetime Renewability: While most health insurance plans allow a maximum entry age up to 65 years, IRDAI has made it mandatory to proffer lifelong renewability. 

Waiting Period: Health policies do not cover your pre-existing illnesses from the start date of the policy. There is a waiting period before that happens. This waiting period can apply to general illnesses, pre-existing diseases, and maternity expenses, among others. 

Sub-Limits: It refers to pre-defined capping for the treatment of specific diseases, hospital room rent, ambulance charges and others. Look for the best possible benefit!

Check for Critical Illnesses: Diseases like cancer, stroke, heart attack & kidney failure among others are categorised as critical illnesses and sometimes not covered under general health insurance policies, although you can find them as add-ons. 

Add-ons: Maternity, Infertility, AYUSH, Zone Upgrade and Critical Illnesses are some of the add-ons provided by the insurers. 

Care Health Insurance (Formerly Religare Health Insurance) provides comprehensive health insurance plans, including family health insurance, senior citizen health insurance, critical illness plans. Secure your loved ones with the best insurance plans.