Compare Health Insurance Plans Before Choosing The Best One For You

1
Compare Health Insurance Plans Before Choosing
The Best One For You
2
With the cost of even basic medical procedures
rising exponentially, a health insurance policy
is an essential support for any unforeseen
events. Whether it is minor illness, an
accident, or major surgery, you get the best
coverage when you carefully compare health
insurance plans and choose the best one that
suits your needs. Quotes of health insurance
plans provided by various insurance companies
should be compared before finally settling on the
best one for your specific situation and
requirements. In this article, we bring a lot
of information about health insurance and the
important factors to be kept in mind before you
choose one.
3
What is Health Insurance?

• By choosing to pay a certain premium on a regular
  basis, a health insurance plan protects you from
  heavy medical or surgical bills by paying a major
  part of it. There are different ways in which
  health insurance pays the bills for any medical
  or surgical procedures or hospitalization.
• The insurance company could pay the amount
  directly to the healthcare provider (in cashless
  settlement)
• The insured could pay first out of his pocket and
  get reimbursed later from the insurance company.

4
How to Get the Best Health Insurance Quote?
With the help of the internet, it is now easy to
get quotes of health insurance from the major
companies in the industry by comparing their
features and products on web aggregator websites
like InsuringIndia.com.
5
(No Transcript)
6
What factors should be considered when buying
health insurance
The first thing to know about is the two types of
policies that are available, which are benefit
and indemnity. Indemnity plans help people to
plan their health care and visit any doctor or
hospital that they may like. A set portion of the
hospital expenses are then paid by the insurance
company. This is the reason, these plans are also
referred to as fee for service plans. When
comparing policies, it is a good idea to choose
an indemnity plan that covers maximum
hospitalization expenses, including the cost of
room and doctors consultation fees. Then you
could go for plans that cover critical illnesses.
There are also plans offered by various companies
that are specific to certain diseases, such as
diabetes. These plans have a higher premium than
basic plans.
7
With rising medical costs, it may not be possible
for everyone to pay higher premiums for higher
coverage. Top up plans are economical as they
have a deductible condition attached, which
reduces the premium cost. There are also
different plans that suit different family
configurations. For example, a nuclear family
would benefit from a family floater plan where
the entire family is covered by one Sum Assured
applicable for all the members.
8
For people who are already covered by their
employers, it would be better to opt for a top-up
plan that has a deductible or a basic policy.
Another add-on to look out for in health
insurance plans is if they offer a free health
check up after completing a set number of years
with the company. It varies from company to
company and starts from 1st year policy itself to
after a waiting period of 2-4 years, depending on
certain conditions set out since the inception of
the policy. Additional covers can also be taken
for maternity expenses, which usually start only
3-4 years after the insurance has been taken.
9
Thank You