India’s medical inflation operates at as high as 15%. This is an astounding figure, and no matter how much you earn, being able to afford quality medical care will require you to shell out enormous amounts. The only way to assuage the blow is to plan ahead and get a health insurance policy. By paying regular manageable premiums, you can protect yourself against humongous bills.
Confused about which at health insurance plan is right for you? What inclusions and exclusions to look for? How extensive and expensive the coverage is? Buying health insurance online can be a daunting task if you have a lot of decisions to make.
Here are a few tips and hacks for you to help you with the process of getting health insurance if you have decided to buy the policy online.
The thumb rule is that a suitable health insurance plan ensures that all the medical and hospitalization expenses, surgery and treatment costs, even the critical illnesses are adequately covered. But it is important for you to read the fine print.
1.Family floater plans versus individual plans:
Insurers offer health insurance plans that differ on the basis of persons covered, these are usually:
- Individual Health Insurance Plans - These plans provide coverage to only one individual against various diseases and illnesses.
- Family Health Insurance Plans - These are more comprehensive plans with coverage for the entire family, as the name suggests. If you are looking for a plan to cover your entire family, this is a more affordable option than to buy a separate policy for each member. Under this plan, you pay one premium and that ensures coverage for all members.
Seek apt coverage at the right amount:
Often people think that to get the best deal out of an exchange is to go for the cheapest. Let us bust this myth here. Your premium doesn’t have to be cheap to be justified- it has to be proportionate to the benefits it provides. You should select a health insurance plan that provides you coverage for a plethora of medical emergencies and issues, and whose benefits extend across pre- and post-hospitalization expenses, daycare expenses, transportation, etc. If it is a family plan, make sure the plan caters to the needs of all family members. A little due diligence never hurt. You can dig deeper online and pore over the policy brochures. Future Generali, for example, offers a Future Criticare plan if you get diagnosed with a critical ailment that requires specialised care that regular plans don’t cover. It also offers you to be able to top-up the plans under the name of Future Health Surplus. It is important to look at the costs vis-a-vis your budget. You might want to start with a reasonable premium and then review the plan and increase cover as your income, family or requirements change.
3.Take a note of the exclusions:
When buying a health insurance policy online, be meticulous about the fine print: read the exclusions - the incidents not covered under your policy. A policy like Future Generali Health Total is a Comprehensive Retail Health Product with wider and long term coverage, so you can expect to be covered for most issues in your radar. But you should take note of these exclusions to be able to decide if the policy works for your needs. If you are aware of these, you might consider a supplementary support in the form of Future Generali Top-up plan.
4. Network hospital coverage:
During the time of a medical emergency, cashless hospitalization and treatment can be a big boon, since the insurance company settles the medical bills directly with the hospital rather than having you to pay upfront and then file for reimbursement. Check out for insurers that have a network of empanelled hospitals, and whether the list has hospitals and doctors of your preference/convenience.
5. Compare policies online:
There are a lot of insurance companies offering health insurance and each one offers a lot of choices in plans. It is good that you are on the internet already - just research a little bit more before finalising a plan. It almost never happens that the first plan you choose suits you the best, so it is advisable to go around and find out about more options to be able to get a policy that suits your needs effectively. Get quotes for different options and compare.
Buying an insurance plan online is a swift and convenient process, just make sure you don’t buy in haste, without research or without budgeting. Follow the above tips before finalising on one policy.