Broadly speaking every health insurance policy covers the price of hospitalisation and related costs of diagnostics, consultancy, tests etc. Assuming they all are the same, and choose the cheapest plan can also be wrong with regards to health care insurance claims. Coverage, terms, cost and expenditure limits are vastly different for each and every company. Although it is important to consider the premium and appearance the affordability factor, a run through of features is what should ideally determine a final selection.
Coverage, terms, cost and expenditure limits may vary for each and every company.
First step inside direction is usually to determine the protection amount that you'll require. Weigh your preferences; see what you could spare for emergencies. Determine who all are to get covered inside the plan. Once you have these products set up, you need to compare the top available options. Comparing different plans available available in the market will educate you about what various companies are selling and as well as help you identify your requirements.
What to look for and compare?
There are certain must confirm points while buying medical health insurance. Check these points out when searching and comparing.
See till what age a policy covers you
Most health insurance companies in India cover you till you reach a particular age. After this age the cover ceases to exist. Besides this, there is also a maximum entry age for getting a whole new medical insurance plan. No insurance carrier will accept your proposal when you have crossed the maximum entry age. Maximum hidden to age can vary. Some companies even offer lifetime coverage.
Note the Policy Sub-Limits
Health insurance policies cover hospitalization charges, consultancy fees, diagnostic tests, medication, room rent, ambulance cost etc. But each part could possibly have sub-limits for reimbursements. These sub limits could be fixed amounts or number of the complete sum assured. It is very important to take into consideration the sub-limits in light of place of your residence as well as the kind of hospitals you visit.
Find out what exactly is not covered
There are certain medical ailments, treatments and consultancies not covered inside policy. They might be permanently excluded or they could have time bound limitations. Like maternity and pregnancy related treatments is probably not covered in any respect but ailments like hernia or cataract surgery will not be covered only in the first year in the insurance. Identify these and compare different policies to determine what one suits the needs you have most.
Check the waiting periods
Any health insurance policy makes force following a minimum of four weeks waiting period. Till then only accident related health concerns are covered. For some companies the waiting period may be more. Besides this initial wait, there are certain illnesses that aren't covered during the first or first two many years of the protection. You could have to watch for as much as 4 years for virtually any pre-existing illness to be covered, based on the insurance company. Check what are the waiting period is made for various situations.
Search information about the Networked Hospitals
Networked hospitals offering the cashless facility form an essential feature of a health care insurance plan. They prove to get very convenient while coping with the medical emergencies. Although generally you receive their email list of networked hospitals if you buy the policy, it is possible to ask the company for their email list before that or perhaps certain that your on their website. Make sure that some with the hospitals close to you residence are handled by the insurance provider.
Verify if you'll find any loading charges
Most insurance providers offer No Claim Bonus during the time of renewal if you find no claim in the previous year. That?s a monetary benefit that you receive. But, let's say you'd created a claim? Insurance companies implement loading charges. Make sure that your medical insurance provider includes a clear and defined loading policy otherwise you could end up paying heavy premiums.
How to compare?
When you begin the search you have to get yourself a neutral and objective take a look at different medical health insurance policies available in the market. You can check out various companies? websites and look for specifics of their products or call their agent advisors to describe things this would be tedious and time-consuming and certainly not objective enough. Even when you have all the data, it will be difficult to compare them.