Why Compare Health Insurance?

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Health Insurance Policies
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Why Compare Health Insurance?
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We live in a consumer age, where you are spoilt
for choices. With so many Health Insurance
Companies offering so many types of Health
Insurance Policies, its a shame if you jump at
the first one you see. Compare health insurance
to get the best plan at the best rate. Compare
Health Insurance so that when you really need the
monetary support, you actually get it. With
Health Insurance policies for Senior citizens,
Families, Individual, Critical Illness, Maternity
Covers etc, you can definitely find something
that covers you and your family, if applicable,
in the best possible way. There are seven key
parameters for comparing Health Insurance, which
are discussed here.
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Parameters to Compare Health Insurance
Plans Hospital Network in your area Health
Insurance policies generally provide cashless
treatment facility in their network of hospitals.
You need to compare how many hospitals are
covered in your area for cashless, for your
shortlisted Insurance companies. Room
eligibility Room Rent Limit or Room Category
capping, if ignored, could turn out to be the
biggest problem in your health insurance policy.
In case any of your family members are
hospitalized, if you opt for a higher room than
your eligibility, your entire hospitalization
bill could be proportionately deducted, and hence
lead to a massive loss for you.
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Co-payment and Sub-limit Copay is a percentage
of the admissible claim that you will be required
to pay. Insurance companies would pay the rest of
the admissible claim. Check for the Co-pay
clause in the policy which could sneak into the
plan, when you are getting older. Sub-limits are
caps that insurers impose on the sum
insured. Annual Premium While it is not
advisable to compare costs alone when choosing a
plan, it is practical to compare shortlisted
plans offering similar features per your
requirement. Ideally, there should not be a lot
of variation in the premium of similar features.
Be prepared to pay a higher premium, in case you
want the plan to cover each and every small
health cost such as OPD bills, dental and
opthalmic costs etc.
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Claim Rejection Ratio Every company has
different parameters to accept or reject customer
claims. Check for health insurance companies with
lower claim rejection ratios for a better
experience. No Claim Bonus Benefits No claim
bonus benefits are offered by many insurers. The
customer can avail these by not making claims for
an entire year. The no claim bonus usually
translates into a discounted premium or increase
in Sum Assured the very next year. Waiting
Period health insurance policies companies do
not cover all the diseases right from the word
Go. For some conditions, the company starts
covering them only after a certain time period.
This is called the waiting period. It is usually
set at 2 years but if you compare health
insurance plans, you can find something with a
lesser waiting period.
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Now that comparing Health Insurance policies is
done online, it is absolutely hassle free and as
quick as your Internet speed. Compare health
insurance to make sure you get your moneys worth
and the crucial assistance in the time of
need. Source https//www.coverfox.com/health-i
nsurance/compare-health-insurance/
Thank You!
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• To Know more details on health insurance
  policies
• https//www.bajajallianz.com/Corp/health-insuran
  ce/health-insurance.jsp

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