1. Look for policy with ample coverage
Choose a health plan that secures you against a wide range of medical problems, and provides benefits including pre and post hospitalization, daycare expenses, transportation, illnesses that you may be at risk of due to your family’s medical history, etc. If you are buying health insurance for your family, check whether the policy meets the needs of each member of your family. Consider your requirements, compare plans on benefits and costs, and apply a little due diligence to choose a plan that caters to your needs.
2. Buy a policy with affordable premium
While it is important to buy a health plan that meets your needs, it is equally important that it suits your pocket as well. Budget is a hugely important aspect when buying health insurance. But, you should consider the plan benefits before you consider the price of the plan. It is a wise decision to buy a reasonably priced health cover at the start to ensure you are covered properly and the premiums are also affordable. With time, you can review your plan and increase cover appropriately with the rise of income, family size, and requirements.
3. Prefer family over individual health plans
Individual plans are good for individuals who do not have a family to support. However, if you are buying health insurance keeping your family in mind, purchase a family health plan to enjoy maximum benefits at a more affordable price.
4. Choose a plan with lifetime renewability
When you buy a health plan, make sure to check for how many years the plan will cover you or whether it offers limited renewability or not. Why? Because you will require a health plan the most during the later years of age. So, choose health plans which offer lifetime renewability.
5. Compare the health policies online
You can compare health insurance policies online to ensure that you buy a health plan that caters to your needs. You can even ‘request a quote’ online which means you can enter your details on the website and get an estimated premium for your policy. Collect the best quotes and then compare them to arrive at a decision.
6. Network hospital coverage
Once you have a selected list of health plans, check whether or not your preferred hospitals and doctors are included in their hospital network. Always prefer an insurance provider that has a wide network of hospitals across the world.
7. High claim settlement ratio
The claim settlement ratio is the number of claims settled by the insurance provider over the total received claims. Always choose an insurer that has a high claim settlement ratio.
