10 Tips to Choose the Best Health Insurance Policy

Choosing a good health insurance plan can be quite a daunting task, especially since there is so much to choose from. In order to make it easier, here are 10 tips. These will help you choose the best health insurance policy.

10 Tips to Choose the Best Health Insurance Policy - Acko

Choose the Best Health Insurance Policy

  1. Get the perfect sum insured
    The biggest reason for buying a health plan is protecting your finances. This means you can get treated at the best hospital without having to shrink your bank balance. You, therefore, need to look for a plan that offers a high sum insured that you can effectively use to clear your health bills as and when needed.  
  2. Look for riders
    The ideal health insurance cover should consist of a base plan and along with that, some riders. Riders are add-on covers that are available at an added cost. Look for the most suitable riders and customize your cover in such a way that you get the best value out of it.
  3. Opt for a family floater plan
    If you want to financially safeguard the health of all the family members, look for a family floater health insurance plan, rather than an individual plan for everyone. A family floater plan offers many benefits and is economical too.
  4. Check the insurer’s reputation
    The features of a plan alone don’t make it the best health insurance policy. The insurance provider also plays a role. You should look to buy your plan from an insurer who is approachable and helpful. The insurer should have a good customer support system and should also enjoy an overall positive rating.
  5. Check the claim settlement ratio
    Similarly, a good health insurance provider should have a high and healthy claim settlement record. Your plan won’t be helpful unless you are assured of getting the claim when needed.
  6. Compare
    You must compare health insurance policies before you buy a plan. This will help you to find the best plan at the most affordable rate.
  7. Look for age-related details
    Before you buy a health insurance plan, check the age-related details. Check the age limits for the oldest and the youngest family members. Also look for the maximum renewal age. The ideal plan should allow for lifelong renewability.
  8. Check for sub-limits
    A health policy offers sub-limits. This means you have an amount assigned for each component like your room rent, ambulance charge, etc. Go over the sub-limits and ensure they work in your favor before you make the final purchase.
  9. Check the network hospitals
    All health insurance plans have tie-ups with hospitals. These are known as the network hospitals. Go over the list of network hospitals to ensure your preferred hospital is on it. This will help you to receive treatment under the plan at a place you are comfortable in. You can avail cashless claims as well.
  10. Look for a well-rounded cover
    Last but not the least, look for a well-rounded cover. The cheapest plan is not necessarily the best plan. You should look at the fine print and assess the most suitable features. Look at the exclusions, the clauses related to the waiting period, etc. Choose the plan you feel would deliver the best. This is a golden rule to remember when you go looking for the best health insurance policy for yourself and your family. Compare health insurance to see what your options are and you will be able to find some of the best plans.

Conclusion

Be truthful when you buy a plan. Put a correct analysis of your requirements and declare your existing conditions honestly. Keep your budget in mind and buy a plan that’s affordable. Combine these with the points mentioned above and you will surely find the best health insurance policy for your entire family.

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