7 Tips To Choose The Right Health Insurance Plans

What should you look for in the Right Health Insurance Plan?

A right health insurance plan should have the following features:

• Covers hospital bills and related medical costs.
• Cashless treatment at network hospitals.
• Renewability option for policy.
• Short waiting time for pre-existing disease coverage.
• Affordable premium with good benefits.
• Available add-ons for extra coverage.
• Bonus for no claims made.

How to Choose the Best Health Insurance Plan

To select a good health insurance plan for you and your family, there are some tips you should consider. Let’s understand all of them:

Factors to Consider Before Buying RSA

Some factors affect the RSA buying decision. Let’s understand them briefly:

What Do You Need?

It is always necessary to understand your needs and preferences before any and every purchase. Likewise, while purchasing a health insurance policy, try to know your needs, such as what kind of plan you require, whether 1it is for you only or for your family, or whether it covers any critical illness. Remember, the selection of a good health insurance plan in India depends upon our understanding of our needs.

Have You Gotten the Right Coverage?

After understanding your needs, start looking for a plan that offers complete coverage for your healthcare needs. Check for many essential elements such as in-patient expenses, pre and post-hospitalisation expenses, ambulance charges, daycare treatment, and much more depending on your needs.

A right health insurance plan gives scope of customization to the policyholders as per their needs and wants. Likewise, a family floater plan should have maternity coverage and some add-ons for senior citizen medical coverage. You should also determine the right amount insured for the coverage you want from the health insurer. A lesser amount will offer lesser coverage to you!

What about Cashless Treatment?

Insurance companies have their tie up with a wide network of hospitals all over the country. These hospitals are known as Network Hospitals of the insurance company. They provide cashless treatment to the insured person and make it easier for the policyholder to get hospitalization benefits in case of medical emergencies. Quick health service, quality treatment, and peace of mind are all that we ask from a good health insurance plan.

Is the Claim Settlement Ratio High?

Claim Settlement Ratio is a performance indicator that shows the percentage of paid out claims out of total claims received by the company. As a policyholder, check the claim settlement ratio of the insurance company you choose to know its efficiency.

A higher claim settlement ratio reflects that most of the claims received by the insurer are already settled. It also makes the claim settlement experience hassle-free for the policyholder and gives them peace of mind.

What are your add-on needs?

If you are someone who is looking for extra financial protection and assurance for your health emergencies, an add-on is the solution! These riders help to get additional coverage just by paying an extra amount of premium. Some of the majorly famous add-ons are consumable covers, inflation shields, no-claim bonus benefits, homecare treatments, critical illness cover, and much more.

Have you Compared the Top Insurer?

There are a number of insurance companies that provide health insurance services. However, all the insurance companies have their different features, add-ons availability, claim settlement ratio, and customer care service. You have to choose the right insurer based on your needs.

So, it is always better to compare different insurance companies and their health insurance products to get better benefits with the same premium payment.

How’s the Customer Rating?

Customer review or customer rating is one of the most important elements to consider before selecting a health insurance plan. Dedicated and active customer care service leads to a good customer review and rating. It gives a base of trust to the new individuals looking forward to buying the best health insurance plans in India.

Conclusion

A good health insurance plan is a safeguard against any financial need due to medical emergencies. You need to select your health insurance plan wisely to get the best benefit out of it. The above-discussed tips will help you with the same. Also, you can customize these plans with the help of add-ons and make them best suited for you.

In case of a query, Square Insurance is always ready to guide you well. Feel free to contact our customer support executives.