It is very normal for any human being to compare two similar products before putting in your hard earned money and when it is about your own protection along with your family members, then the stakes are high and comparison is required. Compare Insurance Plans Also when there are so many similar looking products available, comparison automatically comes up as a perfect fit has to be bought.
As there are numerous plans available, you can take advantage of Okbima.com as we are here to help you. There are so many points that you should consider while buying and comparing it with other plans. Some of them are:
- The provision of coverage in comparison to the premium charged:
● One should not compare the premium alone as every plan comes with different features.
● First and foremost, one should compare the coverage that you will get if the health insurance plan comes into action.
● The health insurance product market is highly competitive and each plan gives you extensive coverage. One should look for the coverage of particular features that fulfill your requirements.
● There are so many different plans available like the ones
❖ International medical coverage
❖ Alternate treatments like unani and ayurveda
❖ Restoration of sum assured
● So you should look into the plan with detail whether it is covering the required feature and whether the cost is in your budget or not.
- Limits and Sub-limits:
● Look for the per day spending limits that are mentioned in a plan.
● For instance: per day room rent, ambulance cost, cost of medical tests, post discharge coverage, OPD charges,
● It is advisable to go for a plan that has no sub limits or higher allowance as you never know about the intensity of the unfortunate event and for how many days you need to be in the hospital.
- Pre-existing conditions and their waiting period:
● Pre-existing conditions include your ailments that you are suffering at the time of buying the policy which will be included from the coverage for the initial few months or may be years.
● The number of years that you have to wait for the coverage is known as the waiting period.
● While comparing, you should have a look at the lowest waiting period and that could be the best shot for buying a health insurance plan.
- Bonus and discounts:
● If you are not failing sick and you are not filling any claim, Buy Insurance Policy Online the health insurance provider rewards you with No claim bonus.
● The no claim bonus can either be taken in two ways:
a. as a reduction from the subsequent year’s premium
b. As an increment in the next year’s coverage with the same amount of premium.
● Second option is a better choice as the coverage is extended without burdening your pocket.
● Besides this, the companies offer various discounts for luring the customers which every individual should look for and get the lowest premium with maximum coverage.
5. Claim Process:
● The sole purpose of buying health insurance is to save yourself from financial emergencies.
● Looking at the claim process is an essential factor. Whether it is a cashless basis or a reimbursement type is equally crucial.
● Going for plans that have a cashless facility is more feasible along with those who are tied with the hospitals are more beneficial.
● This will reduce your family’s stress and they don’t have to run around for getting a claim settled.
● Also you can look at your preferred hospital that is nearby to your house and the facilities that it has along with the cashless benefit. Choosing a plan that works in that particular facility will work perfectly for you.
● Moreover looking for a settlement ratio is a quintessential factor. For instance if a company settles 90 claims for every 100 filled, it means it is a good ratio as there are companies that keep rejecting your claim on some or the other basis.
6. Rating of a product:
● The rating of a particular product also matters as the product with five star rating is the most bought out product.
● Just like you read reviews even before watching a movie, you can gather information before putting your money and give a proper thought while looking at the uncalled needs.
7. Operational efficiencies:
● Lastly, one should also look at how well the company handles the paperwork.
● Whether they follow the ground rules or not.
● Mistakes tend to happen while filing for a claim but whether there are provisions for corrections or not.
● Nobody says only private insurance companies are good only, but they work better as their survival is always at stake.
8. Maternity Benefit
● Most policies do not provide maternity benefit but there are some insurers who after a certain period of waiting time provide you with such a benefit.
● If you are in the process of doing family planning, then you definitely consider a plan that provides you maternity benefits.
These are some of the basic points that are listed for you by the experienced team of Okbima.com which you should consider before buying a health insurance policy. Still if you face any difficulty in understanding the terms and conditions of a health plan or deciding which is better for you, we are just a phone call away. With high fueling medical costs, it is very important for each one of us to invest in a health insurance policy that covers you and your family and safeguard your finances from any medical emergency.
