How to Find the Best Health Insurance Policy for You and Your Family?

by Kirti Saxena Kirti Saxena is a web enthusiast and a writer

It does not matter if you are single or married; health insurance is a protection you need at every stage of life. It protects against expenditures and sudden financial upheavals arising due to illness. With rising medical costs, the only way to deal with a sudden medical problem is with health insurance. It offers a diverse range of coverage that takes away financial strain and enables you to concentrate on getting better. Policy coverage is available for a 12 month period, after which it has to be renewed. Continuously renewing the policy every year entitles you to deductions from the no claim bonus.

Tips for finding the right medical insurance policy

How to find the best health insurance policy? Look for a policy that offers comprehensive coverage. There are many insurance companies that provide coverage just for medical treatment and hospitalization. This isn’t enough because it will not provide enough financial protection. What is required is a policy that offers 360 degree protection. It should pay for various types of hospital expenses.

Look into cashless hospitalization and critical illness coverage

One of the key benefits to look out for is cashless hospitalization. It can help you out in difficult circumstances like nothing else. This coverage is provided in a comprehensive health insurance policy. Under this coverage you can take treatment without paying any cash at the hospital. Just walk into the hospital, show your insurance card, take treatment and walk out. Payment for medical bills will be done by the insurance company directly to the hospital. This facility saves you the trouble of taking money from your savings account. You don’t have to ask friends or relatives for help. If you are in another city and need treatment, cashless coverage can be availed in a hospital there. The only requirement for availing this benefit is that the hospital where you are taking treatment must fall under the insurer’s network of hospitals.

The next point to check is if the policy offers critical illness coverage. If you were hospitalized with any of the major diseases like heart problem, kidney problem, etc., how will your family manage while you are getting treatment? With this coverage, you can make a claim on the policy and get a lump sum which can be used not just to meet medical expenses by also expenditures for day to day living. The money can be used to pay school fees, credit card payments, car loan repayments and much more.

Who can get health insurance?

Health insurance India is available for various age groups, right from a two-year old child to a senior citizen. There is no need to undergo any medical tests if you are fifty five and below. Furthermore, the policy can be availed online itself, which saves time and efforts. It can be used to reduce tax burden under Section 80D of the Income Tax Act.