When securing yourself financially against uncertain medical expenses, getting the best health insurance is the ultimate option. A health insurance plan covers the healthcare expenses of the insured individual arising due to an illness, injury, or critical ailments.
Medical issues are unavoidable and can strain your wallet and exhaust your savings if you are not financially prepared. Those seeking the best and most trouble-free medical care without the stress-causing hospitalisation expenses, medical bills, or doctor fees should invest in the best health insurance.
However, with numerous health insurance plans available in India, finding which health insurance is best for you can be confusing. So, it is essential to purchasing a health insurance plan that suits your needs and requirements.
Selecting the best health insurance
Before finalising the best health insurance plan in India, you must look for the offered coverage, benefits, and other factors and compare them with the different insurance plans in the market. Here are some factors to consider while choosing an insurance policy:
A health care plan should offer coverage against multiple medical problems and expenses, including pre and post hospitalisation, surgeon fees, room rents, in-patient charges, ambulance charges, and others. When choosing an insurance plan for your family, make sure that it caters to the entire family’s needs. If you want extensive coverage, you must go for an individual health insurance plan instead of the family floater.
Sufficient sum insured
Choose an insurance plan that offers maximum coverage to meet future medical emergencies. Ensure that the sum insured is sufficient to cover different healthcare expenses. To determine the amount of the sum insured, you must be aware of your present health condition, pre-existing illnesses, medical needs, and compulsory medical expenses.
With India’s rapidly rising healthcare costs, a previously bought insurance plan may become insufficient today. You should pick a plan that is flexible and allows changes with time. Also, the costs involved for top-ups should be nominal and lesser than buying a new health insurance policy.
Lesser waiting period
It refers to the amount of time an insured needs to wait before claiming the insurance benefits. In the case of pre-existing ailments, health insurance plans usually have a waiting period ranging from one to four years. It is advisable to get a plan with a lower waiting period and adequate coverage.
Another essential factor to keep in mind when choosing a health insurance policy is the lifetime renewability feature. It allows lifelong health coverage, avoids high premiums, and offers enormous financial safety during medical emergencies in old age with a single policy.
Trustworthy insurance provider
An insurer loyal to its customers with a great claim-settlement ratio and a good market reputation should be chosen for purchasing a health insurance policy. Moreover, the process of claim settlement is frustrating sometimes. So, look for an insurer offering a straightforward and fast claim settlement process with minimum document formality.
The best health insurance plan is the one with plenty of network hospitals. Always look at whether your nearby hospitals are included in the list or not before taking an insurance plan. With Niva Bupa health insurance, you can choose from over 7,000 network hospitals and enjoy the benefits of cashless treatment.
health insurance plan that suits your needs and is affordable at the same time. To continue paying premiums for a long time, you must get a well-priced plan.
Advantages of the best health insurance
Daily allowance: The insured is given a fixed allowance for each hospitalised day to pay for the healthcare expenses.
Most health insurance plans offer cashless treatment facilities at their network hospitals. It helps you get instant medical care without worrying about the hospital bills in an emergency.
Coverage for critical diseases
Critical illnesses, including heart attack, paralysis, kidney failure, cancer, or brain tumours, can create financial challenges for anyone. An insurance policy with critical illness cover can come in handy and save you from unwanted burdens.
An insured is eligible to claim a tax deduction on health insurance premiums under section 80D of the 1961 IncomeTax Act.
A dramatic rise in health diseases and medical expenses has increased the demand for India’s best health insurance plans. Health insurance serves as a financial backup and ensures an untroubled future. However, finding the right plan for yourself and your family requires great effort. Bear in mind the above factors and benefits, and select the health insurance plan that is ideal as per your needs.