Purchaing Health Insurance: Some Factors that Need your Time and Attention
Perhaps you didn’t know this — in India, medical emergencies are the main reason behind over 80 percent of the financial crisis occurring in the households. Yes, that’s what surveys show. Therefore, a Health Insurance plan is important. It not only helps you stay healthy and receive the best possible healthcare when needed, but also safeguards your finances and life goals from getting swiped off due to unwanted medical emergencies. Also, it’s much more than just a mere tax saving tool. When planning to buy health insurance policy in India, you might get perplexed due to the multiple options available to you. However, if you compare health insurance policy online, you can easily find the Best medical insurance policy.
Here are some important factors given below. Hopefully, these would guide you find and maintain a Health Insurance plan –
Understand the value of time
Don’t forget that with every passing day, you are ageing. And with your advancing age, you are welcoming higher premium amount. Yes, with most of the Health Insurance companies the premium amounts are more likely to go with advancing age. Therefore, it’s better to act as early as possible and get yourself the Best medical insurance policy before it’s too late. Also, it always makes sense to opt for a Health Insurance plan that offers lifetime renew ability option. Although, lifetime renew ability has been made mandatory for all Health Insurance plans, it’s better to check it in the first place. That’s because, lifetime renew ability makes sure that you get proper Health Insurance coverage, when you grow old. Moreover, starting early with the Best health insurance in India, you tend to accrue continuation benefits, like No Claim Bonus!
Whether cashless settlement or Reimbursement
Before you Buy health insurance online or offline, whichever medium you prefer, make sure to compare health insurance policy online to find out whether you want a Health Insurance plan that offers cashless settlement benefits or reimbursement. In the former type, you can seek cashless treatments at any of the network healthcare facilities of your Health Insurance provider. The monetary transactions would be handled by you insurance provider. However, in the latter type, that’s the reimbursement type, all you expenses would be reimbursed by your Health Insurance provider on furnishing the medical bills. If you don’t go for health insurance comparison in India, you won’t be able to understand the aspects of the Best health insurance plan.
Even the Best health insurance in India has certain waiting period
When it comes to health insurance policy in India for covering pre-existing illness, a certain waiting period is there. With most of the Health Insurance providers in the country, this duration is around 3 to 4 years. So make sure to go for health insurance comparison in India to find the time duration that would be alright for you. If you avoid comparing, you might not find the right and the Best health insurance plan.
So, these are some of the most crucial factors that need your attention when you Buy health insurance online or from any other medium.