Articles

Five Steps to Finding the Perfect Health Insurance

by Chrissy Catton Writer
The cost of healthcare is escalating rapidly in the Indian subcontinent. Diseases are becoming more prevalent and unhealthy lifestyles are only worsening the situation. While navigating through the rather complicated healthcare insurance landscape may need much patience, the effort however pays off at the hour of need.

Follow these five easy steps to find the best and suitable health insurance plans.

Step 1: Selecting an Insurance Provider
There are multiple healthcare insurance providers offering different kinds of insurance policies for their customers. It may be a good start to perform some personal research and narrow down your choices according to various parameters. Evaluation of insurance providers may be based on their reputation, past track records, ease of claims processes and the approach adopted by their representatives.

Step 2: Choosing the Right Insurance Type
Next, choose between family floater and individual health insurance policies. For a nuclear family, a family floater would suffice as it is very unlikely that every member of the family will need to be hospitalised in the same year. Such a calculated risk will work out to a much lesser premium amount per head.

Step 3: Determining the Sum Insured Based on Long Term Requirements
Healthcare inflation is witnessing quite a surge and most people are likely to need health insurance in the long run. Thus, the sum insured must not be determined based on the current status of the individual, but rather on the potential health concerns that may arise few years down the line.

Step 4: Checking the Included Network of Hospitals
While the network of hospitals may not be a significant parameter for some, it is always recommended to opt for the insurer who holds tie-ups with reputed hospitals. Individuals who are obtaining long-term treatment from selected medical practitioners must ensure that the preferred doctor serves hospitals included in the insurer’s network.

Step 5: Scrutinizing Sub-Limits and Co-Payments
Clauses that contain terms like "deductibles", "co-payments" or "limit" must be carefully analysed before signing the deal. These provisions are included in every policy and must be understood and compared in advance.

Everyone wants an insurance product with high cover, low premiums, fast claims and outstanding benefits. However, in the pursuit for the perfect health insurance, people often procrastinate the purchasing process. With these simple steps in place, one can be assured that all important factors to find the right insurance are covered.

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About Chrissy Catton Freshman   Writer

17 connections, 0 recommendations, 46 honor points.
Joined APSense since, December 17th, 2015, From Mumbai, India.

Created on Dec 31st 1969 18:00. Viewed 0 times.

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