How to choose the Best Health Insurance Plan?

We all know that health is wealth and the pandemic situation has made us realize this. If you have still not invested in a health insurance policy, then this is the time to do so. A health insurance plan is going to provide you with complete health protection.

It covers all the medical expenses that one bears because of sickness, hospitalization, and even accidents. Some of the health insurance plans also provide cover for surgeries. After the pandemic, the government has issued two other types of insurance policies, the Corona Rakshak and the Corona Kavach. This will help cover the cost of hospitalization, medical expenses, and even a PPE kit if the policyholder suffers from Covid-19. With all these benefits, there is no reason for you to not invest in the best health insurance plan for the individual.

There are many companies providing health insurance, but how do you decide which is the best policy for you. The following section highlights how you can choose the best health insurance plans for individuals.

Tips for choosing the Best Health Insurance Plans for Individuals

1. The coverage- Whenever you are buying an insurance policy, your first move should be to check the insurance company’s coverage. You must thoroughly check different diseases for which the insurance company is providing the insurance coverage. For example, whether it is covering all the diseases and medical expenses. Also, see if they provide coverage for critical illness. Most companies don’t cover critical illness under the general health insurance plan, and hence, you must check the coverage thoroughly before making a final call. You must compare the plan based on the benefit it offers and the cost of the premium.

2. Lifetime Renewability Option- When buying a health insurance plan, don’t miss to check the duration for which the insurance policy is providing the coverage for. Also, check if they offer a lifetime renewability option or not.

3. Compare the quotes- The final call for choosing the best health insurance plan for an individual should be made only after comparing the quotes offered by the different insurance service providers.

4. Network of hospitals– Another important factor that you must consider is the hospital network with which the health insurance company is associated. Also, you must check what the claim settlement rate of the company is. If the insurance company has a high claim settlement ratio, it means that the company offers superior customer service, and your claim settlement won’t be delayed.

5. Cashless services– Nowadays, most people are opting for cashless services. Hence, when looking for the best health insurance plan for an individual, you must also check whether the insurance company is providing cashless services or not.

One of the points that you should check for is that when you are buying a health insurance plan, it is not just about its coverage; one must bear the cost of the premium so that they can sustain the health policy. Hence you must compare the premium with the benefits offered by the company. And finally, make a call by assessing both these parameters. These are some of the key parameters that you must consider when investing in a health insurance plan. Remember, health insurance has become a necessity today. The insurance companies offer myriads of health insurance products, but you must thoroughly assess them when buying the one for your needs. Once you compare the different policies and are confident about a particular health insurance plan, only then invest in it. You can also check for various available options at Policy Player and make an informed decision.

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