Do you know how many health insurance
companies there are presently? There are about 24 and each of these companies
offers multiple policies. The market is, thus, flooded with different plans.
Each health insurance plan lures a
potential customer by boasting of some unique feature. In this scenario, we, as
common individuals, feel confused and lost. Which plan to buy? Which plan would
ensure the maximum coverage? Which plan would be the cheapest? These and many
questions run through our minds. What about you? Do you know how to select the
right one?
The right insurance can be chosen based on your requirements. However, there
are certain parameters which are universally applicable in choosing the right
health insurance policy. Want to know what they are? Read on:
•The coverage
Though you might be tempted to look at the
premium first, you shouldn't. The first consideration, when choosing the right
health plan, is the coverage available. There are some basic coverage features
which all health insurance plans have. These include in-patient
hospitalization, pre-hospitalization, post-hospitalization, day care
treatments, ambulance costs, etc. Besides these, there are other coverage
features which vary between different plans. Some of these features are
exceptional and enhance the scope of coverage. For instance, the auto restore
feature restores the Sum Assured if it is exhausted in any year, maternity
coverage covers costs related to child-birth, new born baby coverage covers the
new-born till the remaining policy year, etc. So, when you are comparing
between the different plans, look for the coverage features. Higher the
features, the more inclusive would be the coverage provided.
•The premium
Once you are satisfied with the coverage, look
at the premium rates. Don't be swayed by lower premium rates. Compare the rates
against the coverage granted. Remember, the health insurance plan with higher
coverage inclusions would be dearer. Since paying premium is directly proportional
to your affordability, choose a plan which has the best scope of coverage and
is also affordable.
•The waiting period
If you are suffering from any ailment when
buying the health insurance plan those ailments are termed as pre-existing
ailments. Such ailments are excluded from the cover for a few years. This
period is called the waiting period. Different plans have different waiting
periods ranging from 1 year to 4 years. Ideally, the plan with the lowest
waiting period should be your preferred choice. It would ensure a faster
coverage for you pre-existing illnesses.
•The discounts and bonus
To march ahead of the competition, health
plans allow various types of premium discounts. These discounts lower the
premium and are, thus, advantageous for you.
Another concept in a health insurance plan is a No Claim Bonus (NCB). If you do not make a claim in any policy year, you are rewarded with this bonus. The NCB either increases the Sum Assured in the subsequent year at the same premium or allows premium discounts.
Different health insurance plans have different discounts and bonus features. Needless to say, the best health insurance plan would be the one with the maximum of each, wouldn't it?
Another concept in a health insurance plan is a No Claim Bonus (NCB). If you do not make a claim in any policy year, you are rewarded with this bonus. The NCB either increases the Sum Assured in the subsequent year at the same premium or allows premium discounts.
Different health insurance plans have different discounts and bonus features. Needless to say, the best health insurance plan would be the one with the maximum of each, wouldn't it?
•The fringe benefits
Did you know that health insurance plans allow
free health check-ups once after a few policy years? Some plans also provide a
recovery benefit if hospitalization exceeds 10 or 12 days. These are additional
benefits provided by health plans. These benefit you and, so, should feature in
your consideration when choosing the right plan.
The points mentioned above help you look and
that too in the right direction. So, weigh in these factors when choosing the
right plan and you won't regret your decision. You may refer to this link http://click2cover.in/
No comments:
Post a Comment