PayBima Health Insurance Guide

Must Read to Buy Best Health Insurance Policy

Introduction to PayBima Health Insurance Guide

Are you one of those people who avoids purchasing Health Insurance Policy because you believe it to be difficult? If so, let's try to provide some understanding about Medical Health Insurance by giving you clear explanations of the difficult terms and concepts.

Choosing Health Plan: Individual or Family Floater?

To make a right decision, it is advised to compare the two options: family health insurance or an individual health insurance plan.

Who all are covered?

Individual Plans - Only the individual who is insured under a policy.

Family-floater Plans - All family members who are insured under a plan.


Individual Plans - It is more expensive as every person has his/her own sum insured.

Family-floater Plans - It is a cost-effective health insurance plan as all members of the family get protection under one plan and one premium.


Individual Plans - Premium are Higher for Family with Individual Sum insured as compared to Family floater.

Family-floater Plans - Here, the sum insured may not be enough for all family members.


Individual Plans - Suits bigger families with senior citizens. + Single individuals without dependents.

Family-floater Plans - Suits well for nuclear families.


Individual Plans - Buy relevant add-ons to have exclusive coverage.

Family-floater Plans - Opt for an increased sum insured to have sufficient coverage for all family members. And Opt for Sum insured Re-instatement benefit.

Coverage Amount (Sum Insured)

So, it is important to include realistic coverage amounts for health insurance. As a result, healthcare costs are increasing dramatically every day. A sum that might seem sufficient right now might not be in the future. Therefore, there is no ideal level of coverage for a health plan; instead, it depends on several factors. The market rule, however, stipulates that the cost of your health insurance should equal two times your annual income.

Waiting Period for Pre-existing Conditions

Now, almost all health insurance policies include a waiting period as standard equipment. You therefore can't avoid it. You can ensure that the insurance policy you purchase has the shortest waiting period possible. Therefore, it is advised to start a health insurance plan at a young age before the onset of such chronic diseases.

Room-rent Capping

Room rent capping is the limit of hospital room cost that is borne by our insurance provider. To avoid purchasing such policies, it is crucial to understand what room rent capping in health insurance entails.

Need more details? Read Complete Health Insurance Guide Here

Let’s Connect