In Indian insurance market, many online health insurance options are available with a wide range of advantages. Customers should focus on facts like conditions and benefits which limit the advantages while selecting the mediclaim policy which secures their finances in case of emergencies.
It is really difficult to select the correct individual health insurance from the plethora of options available today. Considering the hectic lifestyle and increasing medical cost, healthcare plans are must. Hence, skipping this policy or choosing any plan without an informed decision could result a hassle later.
Today, medical emergencies such as disease, accidents, and sicknesses lead in prolonged hospitalization and leave a person in severe financial crisis unless the person has a comprehensive health insurance India as it takes care of all necessary expenses. You need to consider lots of factors while selecting a plan, including health care needs, budget etc.
Sum Insured Limits
In mediclaim policy, the sum insured is the main limit. Any medical costs incurred over and more than the sum insured is not be payable. Buy enough coverage from an early age because it helps you to hike the sum insured after a claim generates or when the age increases.
Majority of customers struggle to select between an individual policy for each family member and a family floater policy. Buying individual policy is an expensive option but works best in all scenarios. The family floater health insurance policy gives flexibility in terms of utilizing the whole coverage of the family as a group. In case you want to opt for a family floater plan, then it is advisable to keep the sum insured amount high.
Extent of Coverage
While buying a comprehensive health care plan, make sure that the risk insured is comprehensive as well. Compare your products in terms of premium versus benefits to select the right plan. Advantages such as pre- and post- hospitalization, OPD coverage, ambulance services, maternity extensions, day care procedures should be kept in mind.
Exclusions/ Waiting Period for pre-existing illnesses
Check the waiting period mentioned in policy documents for covering pre-existing ailments. Here, customers should know that there are waiting period for specific listed conditions such as Cataract, Knee Replacement surgeries, kidney stones etc. This period differs from one year to four years. Some insurance products have sub-limits on room rents. Generally, it is seen in policies with lower overall sum insured.
Sub-limits are also availed in the form of co-payments and insurer will ask the policyholder to pat a certain percentage of the claim amount. Under this clause, the insurer will have to deduct the cost which insured will have to pay and when the expenses goes beyond this limit, then the insurer will start paying for it.
Online health insurance India offers relief during medical emergencies. Carefully read the exclusion list mentioned in a policy to avoid hassles in the future. Select an insurer who has more network hospitals in geographical locations.
Check Company History
Usually, customers have a tendency to go for a plan suggested by family and friends. But, the market is flooded with different products, it is necessary to conduct a due diligence on the insurer.