Things To Remember Before Buying Health Insurance Policy In India

2 min read

The ongoing pandemic is one of the finest examples, as to why one should have health insurance plans. The sheer uncertainty followed by massive health care bills has impacted several. And put a serious dent into the finances of several others.

A health insurance policy would not completely eradicate the pandemic. But it can provide enough financial assistance to tackle the same. You can buy health insurance policy online and save a lot of time and effort for yourself. Here are some important things to remember before you proceed with the purchase.

Checklist when Buying Health Insurance Policy In India

1. Family Floater

While buying a health insurance policy, consider the age of various family members and any existing ailments. A quick check on the family’s health history and any sort of pre-existing diseases will help you in the process.

2. Network Hospital List

All insurers have a list of hospitals that are a part of their network. Being aware of these hospitals is essential as you can opt for cashless claims here. Your insurer directly settles the bill with the hospital, without your intervention. So that you can focus on a speedy recovery.

3. Claims Process

As you compare insurance online, do not forget to look at the claims process of an insurer. A simple claim process combined with a faster settlement process is ideal. And the presence of good customer support can make the deal sweeter.

4. Sum Assured

While buying a health insurance policy, keep a close eye on the insurance amount that you opt for. Younger individuals might do away with a smaller sum assured. However, if you have aging parents, you might want to consider a bigger sum assured.

5. Lifetime Renewal Option

As you compare insurance online, look for the ones that offer lifetime renewal options. The probability of facing health issues is higher as you get old. This option ensures that you do not have to worry about renewals after you reach age limits.

6. Check-ups

Though this does not impact the policy premium in any way, look for policies with free health check-ups. Compare insurance online to find out insurers who offer free health checkups.

7. Pre and Post Hospitalisation

For some procedures, you consult the doctor several times, take medicines, and undergo a few tests. Similarly, once the hospitalisation is over, there are expenses such as follow-up visits, medicines, etc.

When you buy health insurance policy online, look for plans that offer both.

8. Maternity Benefits

Pregnancy-related costs are constantly on the rise and having a health insurance plan is a necessity right now. Buy health insurance policy online that offers maternity benefits. You must also look at the waiting period for maternity benefits combined with sub-limits. Look for exclusions related to maternity and whether it covers outpatient expenses.

A health insurance plan is no longer a luxury. Given the constant rise in medical expenses, not having a policy will hurt you a lot in the event of any sort of hospitalisation.

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Gayatri Prabhu, Head-Digital Business at Mahindra Insurance Brokers Limited (MIBL) is one those few digital leaders who has the width and depth that is required to execute an ROI driven holistic digital strategy. She cuts through the noise, identifies the critical levers and leads her team to successful execution of the defined strategy. Her core mantra to win new and retain existing customers is: understand the consumer behavior and craft experiences around it.

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