Health insurance has become a necessity nowadays. This is because the medical expenses have been rising to the limit of the sky. A large number of people are aware of the benefits of health insurance. Moreover, young employees buy a policy to save tax.
Best health insurance
To choose the best health insurance policy, you have to keep the following things in mind.
- Coverage: It is essential to choose the right coverage. Therefore, you should have a look at the inclusions and exclusions of the plan.
- Budget: Since the budget is an important factor, you should find a policy that is affordable.
- Type: You should be clear if you want to opt for you or a family health insurance plan.
- Network hospital coverage: This plays an important role in choosing health insurance. Thus, you should check the list of hospitals before buying the plan.
- Compare Quote: You can easily compare prices for different plans online easily.
- Claim settlement ratio: It is essential to opt for an insurance provider who has a high value of this ratio in the last year.
- Age-renewal: You should choose a policy that has a maximum age renewal. It is recommended that you choose a plan with lifetime age renewal.
Health insurance plans
You should know the type of plans available in the market. It can be categorized into the following ways.
- Individual Health Insurance
- Family Floater Health Insurance
- Critical Illness Insurance
- Hospital Daily Cash Benefit Plans
- Senior Citizen Health Insurance Plans
- Group Health Insurance
Top health insurance companies
There are a number of companies that offer health insurance. Hence, here’s a list of top providers.
- Aditya Birla
- Religare Care
- Apollo munich
- Cholamandalam
- Bharti AXA
- Digit
- Edelweiss
- HDFC Ergo
- IFFCO Tokio
- These companies have a wide range of health insurance plans.
Health insurance plans for family
- It covers all the family members at a single premium.
- This plan includes self, spouse, parents and children. Thus, any family member can claim it.
- The sum insured is divided equally among the members. Thus, it covers all the members at a lower premium.
- The premium is calculated on the basis of the age of the eldest member. However, it may also depend on the member who has any medical problem.
- It provides assistance against hospitalization and surgical expenses. Thus, a single premium can save the expenses for all the members. However, the coverage will depend upon the sum insured for a single member.
- It helps to reduce the financial burden on the family. Hence, it provides financial security and peace of mind.