With the growing uncertainties in daily life and susceptibility to critical illnesses, being prepared for unforeseen events is the best step ahead. Health insurance helps you prepare by protecting your finances from the soaring costs ofmodern medicine and health care treatments.
While several carefully thought of budget plans and commitments help us smoothen out chores, an unforeseen occurrence might cause a severe dent in your finances.With a health insurance policy that covers benefits such as cashless hospitalisation, you can even make sure you do not have to make immediate out-of-pocket payment in your time of need.
A comprehensive health cover takes care of various financial parameters including hospitalization expenses, medicine and surgery cost. A good cover must be tailored to meet yourspecific needs. It may include cover for critical illnesses, terminal illnesses, accidental death, injury and disability. The coverage offered is one of the major factors that contribute to the cost of the policy.
With built-in features that are mandatory for every plan, health insurance provides coverage for general health-related risks.
Some of these general inclusions within the limits agreed to in the policy agreement are as follows,
Hospital expenses for admissions longer than 24 hours
Ambulance charges up to maximum limit set by insurer
Pre and post-hospitalisation expenses within specific number of days from the day of hospitalisation
Certain day care treatment or procedures as an out-patient for a continuous period of less than 24 hours
Nursing expenses and fees of surgeon, physician, consultant, specialists
One should consider a range of parameters before finalizing the insurance policy. Compare and Buyportals enable easy comparison of the terms and conditions of multiple insurance providers.
The following parameters may be compared while selecting a health insurance provider :
Number of Network Hospitals
A wide coverage of network hospitals is beneficial as you can claim cashless hospitalisation and medical expenses due to an emergency or a planned medical procedure. Also, you must also check if you can avail similar benefits under your policy in case one has to get admitted in one of the non-network hospitals.
Buying and renewing insurance policy online adds to the convenience of the customer. With the help of built-in tools and calculators, and customer-friendly interface,these portals help you compare insurance policy’s terms and conditions better and enable you to make an informed decision.
Customer Service Record
Claim settlementtime - average time taken by an insurance company to settle claims is an important parameter to consider before you buy insurance cover.
Claim Settlement Ratio
Claim Settlement Ratio of a company determines the probability of your claim being accepted or rejected. A good claim settlement ratio is always preferable as it decreases the chances of you claims rejection.