Greeting For The Day!
Health Insurance today is like a basic need for both, your physical and financial well-being. In simple words, being prepared for any medical emergency is much better than lamenting later on.
Today, our surrounding is full of pollution and innumerable health problems that affect hundreds of people daily - especially in metro cities. Secondly, the pandemic COVID-19 has made us understand, how sudden and threatful a medical emergency can be. You never know when you might need to pay hefty medical and hospital bills.
There are a couple of other compelling factors that should push you in the direction of buying health insurance, like the following:
- A good health insurance plan prepares you for any unplanned medical emergency
- It covers the high-end cost of medical care on your behalf
- The premium of health insurance policies is usually cheaper than the actual cost of treatment
- The claim process is usually simple and hassle-free
Well, the question that matters the most is choosing a health insurance policy that can give you maximum benefits at affordable premiums and easy claim service!
Below we are discussing some points that can help you choose the best health insurance plan for yourself!!
First, Calculate How Much You Need!
Always consider your age while choosing a health plan. For younger people, the risk is less, and so is premium. Once you hit 40, though, your needs will evolve, and your health plan needs to reflect that. This also means that you need to focus on buying a plan that offers maximum age renewal - or simply put, one that you can renew in your golden years.
Also, once you are married, your health plan should take into consideration both you and your spouse’s age and health conditions.
Choose The Minimum Waiting Period For Any Existing Illness!
Every health insurance policy comes with its own set of terms and conditions regarding pre-existing illness. Usually, there’s a waiting period for you to become eligible for medical benefits and coverage for any illness that existed before the plan started. The period can range anywhere from 2-4 years. It is, of course, advisable to choose a plan that offers a minimum waiting period.
Consider The Sub-Limits Offered!
Most health plans come with predetermined sub-limits on daily medical expenses, such as room rent in case of hospitalization, or ambulance charges. Choose a plan that offers you the highest slab on the same.
It is advisable to compare the different premiums and offers online before making any decision.
Compare Before Investing!
The premium amount should always be compared with health insurance policies offering a similar set of benefits. This will ensure that you get the maximum benefits out of your health insurance policy.
Network Hospitals!
Before investing in any health plan, make sure you consider the network hospitals covered under the plan terms. Network hospitals refer to a group of hospitals that allow you to cash your current health plan. Always go for a plan that offers the maximum number of network hospitals in your area. Otherwise, your investment would avail to nothing in times of emergencies.
Mind The Exclusions!
Just as a health plan covers a set of diseases, they also are entitled to exclude some others. Thus, before making any purchase, you should consider carefully all the medical ailments and conditions not included in the plan. This will help save you an unnecessary headache in the future.
You can contact your insurer or can visit Ashutosh Securities Pvt. Ltd. for any further assistance in mutual fund investment. Keep reading our article and stay updated with the latest news about Health Insurance and Life Insurance!
For any kind of query, you can contact us at Shri Ashutosh Securities Pvt Ltd., we are here to help you in any way possible.
Happy Investing!
(Mutual Fund investments are subject to market risk Illustrations are for example only, there is no guarantee of returns. Past performance is not an indicator/guarantee to future returns).