How to buy a Health Insurance that fulfill your needs in FY 19
Everyone wants to live fit and healthy in his or her life. As it is not always possible, sometimes uncertainties like illness, accident and unusual medical bills make the situation worse. In such a situation, an adequate health insurance acts as a savior. But, if you buy a wrong Health Insurance Plan, you can end up with your medical bills along with the premium you have paid. It is also important that your health insurance plan keeps pace with the inflation in the health insurance industry.
Now, let us look at the strategy that one should follow for buying the right health insurance plan:
Write down or identify your needs -
Before buying Health Insurance, you have to identify what are your and your family needs. Then you have to choose the health insurance coverage that fulfills all the needs of your and your family. You can choose a single plan or different plans according to your needs. If you choose a single plan for your entire family, then the age of family members play an important role i.e. Suppose you buy Max Bupa family floater health insurance plan for the family. It covers your parents, your family, and children. But for your parents taking an individual health insurance coverage make more sense. It gives better coverage to your parents and saves a lot of money.
Next, you have to decide how much amount of sum you can be insured. In today's day, we can see a growth of inflation in the Health Industry. It is a good idea an amount of 10 to 15 lakh to be secured against any big health calamities.
Compare the benefits of different Health Insurers -
Different Health Insurance companies offer different offers and benefits. You must compare the benefits available under the plan like Room rent, Hospital accommodation without any limit, Refill Benefit, No Co-Payment options, pre and post hospitalization cover, hospital enrolled in the network of the insurer, emergency benefit, cashless treatment providing hospitals and much more.
There are other additional benefits of no claim bonus as per your plan eligibility, pre-existing diseases, regular health check-ups and rewards on living a healthy life. Comparing benefits gives you an option to choose an adequate health insurance plan, which fulfills your and your family needs.
Disclosure of information -
Once you have chosen the best plan that fits you and your family. Next one is, you have to provide complete information about yourself and each family member, who get insured. The information included your past and present medical history, along with information that any member was previously suffering from or is diagnosed with currently.
For the pre-enrollment process, you and your family must complete all the prescribed medical tests. This truthfulness helps you at the time of claims. It reduces the chances of your claim being rejected on grounds of suppression or misrepresentation of facts.
Evolution in technology has made the work of information gathering much simpler. Any individual can gather all the required data online. After which he can compare and select a health insurance plan that best suits his needs. At last, your goal should be to get the best health insurance plan for yourself and your family.
