Compare Health Insurance Before Buying
A Health insurance policy is a contract between the insurance provider and the policyholder. The insurer will provide reimbursement for your medical expenses for injuries or illnesses covered under the policy at one of the network hospitals. You can also get tax deductions on the premiums paid towards health insurance under Section 80D of the Income Tax Act, 1961.
Individual health insurance plans are made for individual policyholders. Usually, premiums are low under such plans, but major factors that contribute to the price of a policy are Previous medical conditions, age, location, etc.
Family health insurance covers the whole family under one plan. Generally, parents and children (up to 2 children) may be covered by this plan. Some insurers provide coverage for up to 15 family members. Under these plans, the insured amount is shared by all family members included. Although family floating plans have a higher premium than individual plans, the price is still cheaper compared to the expenses involved in buying a different policy for each member.
Health insurance plans for seniors are only for those who are 60 or older. Although only a few companies provide such policies, they can request a medical check-up. In addition, these policies can cost much more than health coverage for younger consumers, since older people are more prone to disease and illness.
Benefits & Features of Health Insurance in India
Cashless Treatment Facility:
In the event of hospitalization, if you have a policy that provides the facility of cashless treatment, you no longer have to worry about the payment of your medical bill because your insurance company will take care of the payment through the cashless scheme on your behalf.
No Claim Bonus (NCB):
No Claim Bonus (NCB) for the medical policy is a specific amount of discount that you receive for not filing any claim during a policy term. This discount is applicable on your premium at the time of policy renewal.
Co-pay stands for a pre-specified amount that you have to pay before your insurance provider comes forward to settle down the rest of the medical bills when you file a claim. Your overall Sum Insured amount is not affected by co-payment. It would be better to avoid such kind of policy.
24*7 Customer Support:
To provide the customers with the best assistance on anything related to their medical policy of coverage, the company provides round the clock customer care support.
Since it’s important to pick the best medical cover that comes with the option of lifetime renewability, especially in the old age, health insurance companies in India have started offering health plans that can be renewed throughout the lifetime. There is a catch also, Lifelong renewability is only applicable if there’s no break in your health policy.
Complementary Health Check-Ups:
Medical insurers provide free health check-ups to encourage all its policyholders to lead a healthy life. The free health check-up facility is provided only once in a while but that totally depends upon the type of plan you choose.
Online Buying & Renewal Option:
Gone are the days when you had to look for the agent to buy mediclaim policy. Nowadays you can instantly buy or renew a medical policy in an instant online. All the health insurers offer online renewal and buying facilities for health insurance plans.
Before you buy it is always viable to compare policies from different providers.
Here below we have given illustration for
Men Aged 30