|
Before proceeding with selecting a health (medical) insurance policy, you want to know your policy thoroughly. A simple question stands while purchasing health insurance - What you purchase and for how much. Most insurance companies mention the features of the health insurance policy on their websites. Because of the complexity of the document most of us turn on to an insurance advisor. Therefore, to make your task easier, here is a small checklist to be understood clearly before signing the policy document: Whom does your health policy cover?
A health insurance policy is designed to cover you as an individual or include your family as well. Preferably, select a plan that covers not only you but also your family as this comes with a number of advantages. Firstly, everyone will be covered under a single plan. So, multiple policies for different members of your family are inessential.
As per any medical insurance plan, the insurance company is liable to pay a maximum of a predefined value (i.e. insurance coverage). This set limit can be used by any member of the insured family, any number of times.
Also, you will be required to pay only a single premium amount on a single specified date. Remembering different dates to pay premium for different medical policies is not required. What does your health insurance plan cover?
Ideally, your health insurance plan should cover the expenses incurred during hospitalization as well as pre- and post-hospitalization period. The pre- and post-hospitalization periods differ with companies and hence it is advisable to select an optimum plan. Apart from this, a medical insurance policy should also cover day care treatments (no hospitalization), domiciliary treatment (medical treatment at home), organ donor expenses and emergency ambulance expenses. Is there any special feature on your health policy?
Special feature means any benefit, feature, discount offered by an insurance company which is not offered by any other. The insurance company might have something special for you to add to your health insurance plan. Understand the offering if any but don't fall for it. Analyze the benefits of the feature - whether it is really necessary, does it fall in your budget, so on. How is the insurance company's hospital network?
To avail a cashless facility at the hospital of treatment, your health insurance company needs to have a tie-up with that hospital. Often the cost of hospitalization and treatment is high and at that time you are looking for your medical insurance company to settle the bills. Identify the network of hospitals with which your health insurance company has a tie-up with and ensure that a rich set of high facility hospitals in the list are around you. How much you pay?
Receive more? Pay more! Obviously, the premium you pay is determined on the plan you select. Opting for a larger coverage will compel you to pay a larger premium. More the number of policyholders; more will be the premium. Compare plans with similar features from different insurance companies to understand what suits you the best. One of the important aspects while selecting an insurance company should be its claim settling ability. You are selecting an insurance plan with the purpose of availing it when necessary. The procedures followed by some insurance companies for claim settlements are irksome and the time taken to resolve the claim is boundless. Carefully research on different insurance company's past claim-settlement records and pick a company from the top of the list. Most of the top Indian health insurance companies have similar features to offer. What matters is an insurance company's buying and claim resolving process, special features if any, hospital networks and the premiums charged for the coverage plan of your choice. About the Author: Sahil Doshi is a senior content writer who writes article for HDFC ERGO. HDFC ERGO health insurance policy is designed to ensure your financial security in case of any emergency. For details Visit: http://www.hdfcergo.com/health-insurance/health-suraksha.html.
Related Articles -
medical insurance, health insurance policy, medical insurance plans, best health insurance,
| 
