If you are clear about your requirements, and not a ‘store-only’ buyer, you can go online and check out the different options for a lot of products and services. Compare as much as you want, look for discounts, and buy at your convenience. You select and make the payment. Easy.

How to Go About Buying Health Insurance? - Acko

If you look closely at the above-mentioned journey, you will find that it is a template. It can be applied to a lot of online products and services. Medical insurance is one of them. The most crucial aspect to consider regarding this template is to know your requirements and search for the most suitable product/service. Read ahead to know more about the online medical insurance buying process in India.

Understanding Your Requirements:

A health insurance policy is like a shield that protects your savings. The health insurance company settles your hospital bills at the time of a medical emergency and your hard-earned money stays secure. Different policies offer different covers. Thus, it won’t be helpful for you if you choose the wrong cover for your requirements. Thus, the first step is to understand your health insurance requirements.

Multiple factors need to be considered for understanding the kind of health insurance you need. Your age, medical history, family medical history, current health, lifestyle, work profile, etc. need to be thoroughly evaluated. If there are any specific health concerns, those need to be looked into as well.

It is suggested to go for a full medical check-up frequently to understand if there’s something wrong so that appropriate action can be taken to address the issue. This will also help you to know the extent of health insurance cover you need. Here, the concept of waiting period comes in the picture. Health insurance companies often have a clause where you have to serve a pre-decided waiting period before you can raise a claim against a particular ailment. However, a waiting period does not apply to all types of plans.

Health Insurance Portfolio:

It is wise to be covered under different health insurance plans for extensive coverage. For this, you should have a health insurance portfolio consisting of suitable policies. Here’s a list of different types of health insurance plans available in the Indian insurance market.

  • Health plans for an individual
  • Personal Accident policy
  • Family Floater Plan
  • Employer-offered Medical Insurance
  • Other group plans
  • Senior Citizen-specific insurance
  • Maternity Care insurance
  • Critical Illness cover
  • Mediclaim

Usually, salaried employees have an Employer-offered cover. However, that is not extensive. Thus, it is suggested to purchase a dedicated individual plan with Add-ons, if needed. Next, one can think of purchasing a Family Floater plan to cover other family members and also avail tax benefit.

Apart from these, one can also consider going for a Critical Illness cover as it covers an illness such as Cancer and offers a one-time lump sum benefit on a diagnosis. Besides, there are other options like Personal Accident, Senior Citizen plan, and Maternity cover, which are based on specific requirements.

Health Insurance Online:

Once you are acquainted with the cover you want, you can go online and research a bit for a health insurance company that is credible, service-oriented, and tech-savvy.

Nowadays, one can buy health insurance online without any hassles, just keep in mind to read the fine print before making the online payment. Your policy will either be available for download or emailed to your registered email ID within minutes. If you find there are some issues in the policy received, you can get them rectified easily by raising an application for policy endorsement.

Health insurance has become customer friendly. All you gotta do is make an informed choice.


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