Health Insurance Plans

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6 things to watch out for when purchasing a
health insurance plans.
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Having a health insurance plans is a must. It
will ensure that when a serious illness comes
knocking, youll be financially prepared handle
it. However, with so many options available to
you, finding the right plan might seem like a
slightly daunting task. The confusing jargon and
policy terms only make things worse.
Fortunately, the process can be made a
little easier by keeping some factors in mind
this article will highlight 6 of these factors to
ensure you zero-in on the right plan for your
needs.
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1. Look at the process of making a claim.
Different insurers have different claim
processes. If it possible, try and compare the
ease time taken for settlement of the various
insurance plans. Also, some insurers have
cashless facility while some provide
reimbursement, depending on your needs, choose
the one best suited. 2. The insurance
amount.Buying the right amount of cover is
vital. If you do not give this aspect enough
thought, you might end up being over insured or
under insured, both of which are not ideal. Over
insured means you are paying for cover you dont
need and being under insured could result in a
shortfall of cover when you need it.Therefore,
when buying a plan, keep in mind your age, your
income capacity, the need and cost of add-on
covers, etc. when fixing the insurance amount of
your health insurance plans.
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4. Is maternity covered?With the cost of
pregnancy going through the roof, it makes sense
for women to buy a health insurance plan that
covers maternity expenses. The plan should have a
reasonable waiting list, if any at all. It should
also cover all outpatient, consultancy check-up
costs. 5. Pre and post hospitalization
cover.A good health insurance plan should
provide you comprehensive cover. Any and all
expenses before being hospitalized should also be
covered, such as doctor consultations, diagnostic
checks, etc. After being discharges, the plan
should also cover follow-up visits, the cost of
medicines, etc.
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6. No-claim bonus. Some plans come with a no
claim bonus or cumulative benefits. Under this
feature, health insurance companies offer to
increase the sum insured at no added premiums or
provide discounts on the premium for every year
you go without making a claim. The working of
this feature differs from one insurer to the
next, so make sure you check this point. These
are some of the main points you should
cross-check before buying a health insurance
plans. Besides these things, there are quite a
few other points that require some research so
make sure youve covered all the bases before you
buy a plan. Hope this article has been helpful,
good luck and all the best!
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