How to choose the Best Health Insurance Plan?

If you live in a metropolitan area then you should take a cover of at least Rs. 10 lakhs. Everyone knows that  the cost of treatment is increasing and it will increase further in the coming days. Simultaneously, in the purchase of a new policy, keep in mind that you may get coverage of chronic diseases too.

In this article, I've listed down some key points which need to be considered before purchasing a health insurance plan. So, let's begin.

At least the excess amount is to be paid off-payment - Choose a health insurance plan where you need to pay the least amount of money payout during the treatment. There is no limit on room rent in the health insurance plan. Along with this, select the company to buy a health plan, whose settlement rate is more than 90%. All insurance companies provide information about the settlement rate on their website. You can choose a bank, insurance company, aggregator site or third party distributor to buy a health policy.

Careful during filling the proposal form - After buying the policy the insurance company sends you a proposal form. Use extra caution in filling it. You have to fill in all the information and the exact information of pre-existing illness. If you do not provide the correct information in the proposal form then your claim can be rejected in case of any illness.

Consider the following issues before buying medical insurance:

  1. Cashless insurance can get you comfortably, but remember that this facility can also be availed of in this hospital's network hospital.
  2. Check the condition of daily expenditure in case of hospitalization.
  3. Insurance companies do not provide plans with 100 percent cashless facility.
  4. Know the estimation of premium amount before buying a policy.
  5. Check whether there is a cashless transaction facility in the policy. Many times it happens that insurance companies turn away from giving cashless facilities.
  6. What diseases are not included in your policy and check the extent of treatment expenses properly. From the same section, you know what you will gain or not.