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Health insurance is insurance against the risk of incurring medical expenses among individuals. The unhealthy lifestyle that most of us lead is a sureshot recipe for medical disorders coming our way.
Add to that the ever rising medical expenses, a smart individual buys health insurance to guard against big and unmanageable hospital bills.
Illness or an accident may be just around the corner. In such a situation, there are two options that we have, either to have ready access to funds for our treatment, or to ask friends / relatives for money.
Health insurance helps us avoid the second situation, where even if we don’t have ready cash with us, our insurer will settle the bill for our treatment.
Before we buy health insurance there are a few points that we need to consider:
1. Does the plan have cashless settlement or only reimbursement mode?
2. Is there any room rent capping?
3. What is the waiting period for various diseases?
4. What is the pre and post hospitalisation cover in this plan?
5. Are there any exclusions in the plan?
6. Is there any disease specific capping?
Checking on these may seem complicated at first, but ignoring them could land us in big trouble. While we may believe that we have insurance, but being unaware of capping or waiting periods might mean that we need to shell out large sums of money from our own pocket.
Incase we are looking to cover other family dependents as well, buying a floater policy may be a good option. A floater helps to bring down the total premium as compared to multiple individual policies, while also ensuring the protection of all loved ones.
It is advisable that before selecting a health insurance plan, we identify our needs and then seek the help of experts to shortlist the policy that meets our needs. Contact us now for helping you find the best policy for you. |
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