We understand that different people have different healthcare needs, so we offer many health insurance plans. If you compare medical insurance, you pick the right match according to your requirements. Medical insurance comparison helps you to know:
- Age Criteria: If you compare health insurance policy, you can understand the age criteria. It will help you pick the plan that suits your age and gives you lifelong coverage.
- Wide Range of Coverage: With mediclaim policy comparison, you can check which policy offers comprehensive coverage as per your healthcare needs.
- Affordable Premium: You can compare health insurance policy premium of various plans and choose the most affordable and cheap health insurance plans. Health insurance premium comparison helps you make informed decisions about the best healthcare plan.
- Inclusions & Exclusions: Too many options can confuse you. Knowing the policy inclusions and exclusions is better to ensure timely claim settlement.
- Additional Benefits: While comparing the plans, you can also know about other benefits, such as no claim bonus, automatic recharge, renewability, etc., to enhance the policy coverage.
- Number of Ailments: Different plans cover different ailments; our critical illness insurance covers 32 critical illnesses, whereas heart mediclaim covers 16. So, go for the policy according to your healthcare needs.
- Discounts: Medical Insurance Comparison helps you know what kind of discounts you can get on policies. You can reduce your premium if you get a discount on your purchase.
What are the Benefits of Comparing Health Insurance Plans?
Comparing health insurance plans online in India can be very helpful when choosing the best policy. Here are some key advantages of medical insurance comparison online:
- Wide Range of Options: The online platform provides access to various health insurance plans from different insurance providers. You can explore and compare health insurance with numerous options in terms of coverage, benefits, and premiums.
- Convenience: You don't need to visit multiple insurance offices or contact agents individually. You can easily compare health insurance plans from the comfort of your home. The online comparison provides benefits that simplify the process of purchasing your policy.
- Transparency: Online platforms provide detailed information about each policy, like inclusions, exclusions, waiting periods, claim processes, etc. You can understand the policy better and make the best choice once you compare medical insurance.
- Time-Saving: Online comparisons are quick and efficient. Within a few minutes, you can compare the features, costs, and coverage of multiple health insurance policies, helping you to make a well-informed decision without investing too much time.
- Customer Reviews and Ratings: You can read customer reviews and ratings for various health insurance plans. These reviews can provide valuable understanding and feedback from other policyholders, helping you measure the service of your chosen insurance provider.
- Ease of Customisation: Online comparison tools often allow you to customise your search based on coverage type, sum insured, age, and pre-existing conditions. You find plans tailored to your specific needs if you compare medical insurance nicely.
- No Pressure Sales Tactics: When comparing health insurance plans online, sales agents do not pressure you. You can consider the options easily and make an unbiased decision that suits your needs.
- Understanding Policy Terms: When comparing plans online, you can take your time to read and understand the policy terms and conditions in detail. You can minimise the risk of purchasing a policy that does not cover essential factors of your healthcare needs.
How to Compare Health Insurance Plans?
It is possible to compare health insurance policies in two different ways. Either choose the time-consuming, offline procedure of going to the insurers' offices and meeting agents to compare policies or use the cutting-edge, online process. The easiest way to compare health insurance plans is online, so if you're wondering how to do that, read the steps for online health plan comparison.
Step 1: Go to the website of the health insurer, like https://www.careinsurance.com/
Step 2: Enter your mobile number and click the ‘View Plan’ button or similar options on other insurer's websites.
Step 3: Fill in the details of members you want to insure, DOB, Pincode, and other asked information correctly and click on ‘View Quote’.
Step 4: Customise your policy as required by choosing policy tenure and sum insured options.
Step 5: Select any add-on you want to opt for with your base policy, like ‘Instant Cover’ or ‘PED Wait Period Reduction’ if needed.
Step 6: Write down the final quote amount, insurers review, claim settlement ratio, number of network hospitals and various data provided on the website.
Step 7: Repeat the same process on different insurers' websites to generate a quote, note it down and compare health insurance plans for families and individuals.
Step 8: You now have all the information to compare health insurance plans and choose a plan best suited to your needs.
How to Compare Health Insurance Providers?
It is necessary to compare the insurance providers before deciding to buy health insurance. Below are the factors you should not ignore while buying a health insurance plan-
- Know What You Need: Before choosing a health plan, always evaluate your health needs, such as the coverage for room rent limits, pre-existing conditions, copays, deductibles and other benefits you may need.
- Find Insurance Providers: Narrow down the best insurance providers in India to ensure their services are trustworthy. You can research online, ask people around, or seek advice from insurance agents to find a reputable insurance provider.
- Compare Plans: Once you have narrowed down your options of insurance providers in India, compare what they offer and which is better than which in terms of benefits, premium, waiting period, policy terms and conditions, etc.
- Check the Cashless Network Hospitals: Knowing the cashless network of hospitals under your health insurance plan is essential to consider while purchasing. So, you must check the list of cashless network hospitals to ensure the ones you prefer come.
- Check Claim Settlement Ratio: To know how good an insurance provider is, you must see the claim settlement ratio of the provider you have chosen. It will hint at the company’s responsiveness and reputation in the market.
- Read Reviews of Customers: In today’s era, reading a company’s reviews is convenient due to the internet. That’s how you can find out about the experience of customers.
Important Factors to Consider While Comparing Health Insurance Policies
Check below how you can compare health insurance policies online:
- Type of Health Policy: Health policies differ in benefits, premium, discounts, etc. So, pick the plan according to its kind, such as individual orfamily health insurance, mediclaim, etc., that best suits your healthcare requirements.
- Comprehensive Coverage: Whether it is hospitalisation, medication, or treatment, your policy should give you extensive coverage. So, check what all policies cover and do not cover to ensure the proper coverage.
- COVID-19 Cover: Look for the plan that offers COVID-19 cover as well. We offer coronavirus coverage, including treatment and quarantine expenses. You can check the terms and conditions of our plans for more details.
- Compare Premium: Use the health insurance premium calculator available online to compare medical insurance policies. Health insurance premium comparison is the best way to pick the plan that suits your pocket.
- List of Network Hospitals: Before you say yes to the policy, look at the number of hospitals empanelled with the company. We have 9747+ network hospitals that allow you to choose the hospital near your residence.
- Sum Insured: The Sum Insured varies from plan to plan. You should work on this and pick the plan that offers sufficient Sum Insured to ensure complete coverage.
- Automatic Recharge: If you face hospitalisation for more than one disease in a year and the existing Sum Insured gets exhausted, you can get automatic recharge. So, compare the policies' features and choose the one that gives you this benefit.
- Lifelong Renewability: Find out which plan offers you lifelong renewability. It is beneficial when you grow old. You can continue the same policy with break-free renewals.
- Waiting Period: It is the duration when you cannot claim. You have to wait for the completion of the waiting period, which ranges from 30 days to 24 months. Thus, go for the policy that offers you a minimum waiting period.
- Sub Limits: It is a pre-defined capping on medical expenses under the policy. A policy with no sub-limit comes with a higher premium, so opt for the plan accordingly.
- Daycare Treatments Cover: You can get daycare treatments without getting hospitalised for 24 hours. Therefore, check the policy that covers maximum daycare treatment, too.
- Annual Health Check-Up: If you want to keep track of your health. Annual health check-up helps you a lot. We also offer yearly health under policy coverage. You can check the details and opt for it.
- Add-Ons: Add-on benefits under the policy help you to increase its coverage. Reduction in wait period, Care Shield, OPD Care, COVID Care, No Claim Bonus Super, and more are the add-ons we offer along with the policy.
- Organ Donor Cover: Organ transplant is not easy. But, if the policy covers its expenses, half the battle is won. So, check if the policy offers coverage for an organ transplant.
- Claim Settlement Ratio: Invest in a company with a higher CSR for timely claim settlement. It shows the reliability of the company in settling the claims. We have 95.2% CSR# that ensures hassle-free claim settlement.
- Tax Benefits: With health insurance, you can save your health and wealth. A premium paid against the policy gets tax exemption up to Rs.1,00,000 as per section 80D of the Income Tax Act. Also, check if you will get the tax exemption certificate.
What Happens When You Don't Compare Health Insurance?
Opting for health insurance without comparison is more like shooting an arrow in the dark. You do not know whether the policy actually serves your purpose. Therefore, comparing health insurance is crucial. If you avoid it, you may face the following consequences:
- Chances buy a policy mismatch to your healthcare needs
- Higher premium for the basic health insurance
- No add-on benefits to boost the policy coverage
- No discounts or additional benefits
- Claim rejection due to less information about policy terms and conditions
- Get into the trap of false promises
Comparing health policies is crucial before buying. It will help you pick the right plan and ensure you get the maximum benefits out of it.