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Thinking of buying a health plan? Look for these points.

Did you know that rising medical expenses and increasing probability of ailments have popularized health insurance plans?
Are you too considering investing in one? Yes? Great! But, have you done your homework?
Buying a health insurance plan needs vigilance on your part so that you do not end up having a wrong policy. So, here are some points which should be factored in before you look at the available health plans:
  • Is the coverage level sufficient?
This is the most important consideration which demands a proper understanding of your healthcare needs. If you buy any coverage without considering your requirements, at the time of a claim your policy would fall insufficient in covering all the expenses. At the same time, if you buy a coverage which is too large for your requirements, you would pay higher premiums which would be a waste of your finances. An ideal balance must be reached between the coverage and your requirements. These points would help when you ascertain your cover:
  • If you are young, a lower coverage would be sufficient. However, you should gradually increase your cover as your age progresses and be amply insured by the time you reach 40.
  • If including your family in the cover, you should definitely opt for a substantial level of Sum Assured to extend umbrella coverage to all members.
  • If you already have existing health plans, you can make do with a smaller cover in your new plan.
  • Residing in a metropolitan city necessitates a higher coverage level as medical costs are higher in metros.
  • If your medical history makes you prone to ailments, a higher coverage should be your choice.
  • Lastly, your affordability plays a vital role in determining your coverage. The premiums of a higher cover should suit your pockets.
  • Who is being covered under the plan?
Your entire family members are precious to you, isn’t it? Then why exclude them from your health insurance plan? Wouldn’t their healthcare costs be borne by you? If you are the sole bread-winner of the family, you should ensure a health cover for each family member.
However, you could exclude your parents from your floater plan and buy a health plan for them separately for a better alternative. Whatever your choice, you should estimate the number of family members who are to be covered in a health plan before you buy the policy.
  • What type of policy is suitable for you?
There are different types of health plans available in the market and you should decide which type of policy would justify your needs. Take your pick from the below-mentioned plans:
  • Indemnity plans – these are the basic health plans which pay the amount of expenses incurred if you are hospitalized.
  • Disease specific plans – a new breed of health plans have been developed which are designed to cover such diseases and ailments which are otherwise excluded from the scope of a normal health plan. Common examples of such plans are diabetes care plans, cardiac care plans, dengue care plans, etc.
  • Critical illness plans – since critical illnesses involve a huge amount of money on treatments, critical illness plans have been developed which provide the Sum Assured in lump sum if the insured is diagnosed with any illness covered by the policy.
  • Hospital cash plans – these plans pay a fixed amount for each day of hospitalization. This amount can be used in any manner and the amount is fixed at the time of buying the plan.
So, you should ascertain which type of policy would be suitable to your needs
These three factors are the basic considerations which should be decided upon before you consider a health plan and select the best one.
IDEAL INSURANCE BROKERS PVT LTD
23, Townshend Road
Kolkata - 700025.
Principal Officer: Rahul Agarwal
+91 9830882728
rahul@idealinsurance.in
Category Of Broker: Direct Broker
Date Of License: 24/08/2005
CIN: U 65929 WB2005PTC 101118
IRDA LICENSE NO : 310 (VALID UPTO 24TH AUG, 2017)
121Policy.com is an online ventre of Ideal Insurance Brokers Pvt. Ltd, one of the leading insurance brokers of India. We are a eleven year young Insurance Broking company dealing in health insurance, motor insurance, fire insurance, travel insurance, Life Insurance and a whole lot of other insurance products. We work with the leading insurance companies like ICICI Lombard, Bajaj Allianz, Tata AIG, Religare, Bharti AXA, Apollo Munich Health Insurance to name a few. We understand the role of Health Insurance in any developing country. We deal in health insurance for people of all ages. We provide insurance for elderly also. Ideal Insurance is best known for the hassle free policy purchase and friendly assistance in claim processing. We help our customers with the best Claim settlement process in time of Insurance claim and ensure a hassle free experience. We have some leading corporates in India who trust us for their asset insurance.
© COPYRIGHT 2017 IDEAL INSURANCE BROKERS PVT. LTD. ALL RIGHTS RESERVED.
INSURANCE IS THE SUBJECT OF SOLICITATION.
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