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 financial 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: -

Check for Critical Illnesses: Diseases like cancer, stroke, heart attack & kidney failure, are categorized as critical illnesses. The number of critical illness cases is rising in India. Therefore, look for a plan that covers the hospitalization and treatment costs of these diseases also. 

Check Reviews: Check customers reviews online about the pre and post sales services offered by the health insurance providers and their 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: Lifelong renewability ensures that you can continue your policy coverage without any age restrictions. So, pick the policy that offers this feature to avoid hassles and high premium.

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, and others. Look for the best possible benefit!

Add-ons: You can also look for the add-ons that help you to enhance the policy coverage. Care Shield, COVID Care, OPD cover, reduction in wait period, unlimited automatic recharge, etc. are some of the unique add-ons offered by us. Get more details about these add-ons and make an informed decision.  

Care 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. 

Disclaimer: Please read the brochure and prospectus to know more about our health insurance plans cover as conditions may vary.

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