Make the Smart Choice for your Health!

Things to keep in mind when picking a health insurance policy

The COVID-19 pandemic brought the importance of healthcare and health insurance to the forefront for many people. Health insurance policy purchases saw a dramatic rise over the past two years, as many Indians understood the financial benefit of having health insurance plans cover medical expenses. 

But, in a rush to get covered, don’t make the mistake of purchasing a policy that is not suitable for you! The best plan is one that will take care of all your present needs while also taking into account future possible circumstances. As such, there are some things to keep in mind when picking a health insurance policy for yourself and your family. 

1. Claim Process

The claims process should be both simple to complete and quick to get your claim settlement. These are the two significant factors to keep in mind when deciding on a policy, along with good customer support. A mediclaim process that is either too complicated or has a long wait time will add to your stress which could hamper your recovery. 

2. Cover Type

Make sure that the policy you are buying has the option to cover more than just a single individual. Health insurance plans should offer the option to add more individuals to the policy or offer a family floater plan that will ensure your loved ones are also protected. Family floater plans usually also come with a high sum insured amount, as several individuals need to be covered. 

3. Sum Insured

When picking a policy, it is essential to choose one that will protect you both currently and in the future. Your Sum Insured is how much your insurance company will pay to cover the cost of your medical treatment. As such, it is better to go for a High Sum Insured to guarantee that you will not be left without support during times of emergency. While it may sound like a High Sum Insured plan would be expensive, it will be able to keep your finances protected in the event of even the most critical medical emergencies. That peace of mind from knowing you will be covered no matter what is a great boon in times of crisis. 

4. Network Hospitals

It is important to know what hospitals are connected to your health insurance and if the ones closest to you fall inside your network of cashless hospitals. When hospitalized in a cashless network hospital, the insurer will settle the bills directly with the facility. So it makes sense to opt for insurers with more hospitals in your pincode. It is also essential to check with your insurance company if you will be reimbursed for your expenses when admitted to a non-network hospital. The rules for this scenario are different for each health insurance company, but you want to make sure you have a policy that will allow you to make a claim, even if there is no cashless facility.  

5. Room Preference

This need is recognised by people only at the time of getting hospitalised. Many people would like to select a room of their own choice which is important as it provides comfort in an uncomfortable situation. Make sure you have understood your eligibility of a room rent covered within your health insurance policy. Some mention a room rent eligibility as a percentage of your sum insured and some insurers have a straight forward room grade mentioned.

6. Health Check-Ups

The best way to know the state of your body; the earlier you can catch any complications, the faster they can be resolved. An annual health check-up is an excellent way to keep up to date with your body, so make sure your health insurance policy covers this aspect of healthcare as well. 

A health insurance plan is your trump card against a sudden medical emergency, as long as you choose one that includes the above-listed vital factors. A plan such as ManipalCignaLifeTime Health offers all this and even extra benefits such as Multiple Restoration of Sum Insured, Optional Add-On Covers, and Global Coverage to guarantee that you will be supported at every turn of your life. Purchasing health insurance has been made to seem like a daunting task, but it is effortless once you understand the foundational aspects.