Keeping in mind the rising medical cost, complex treatment procedure, clinics and hospital hassles, health hazards due to environmental conditions, health insurance has become an indispensable tool in today’s world. The medical treatment costs have reached an all time high and are further expected to rise due to ever inflating economy. Medical emergencies like sickness, disease and accidents which might result into prolonged hospitalization can leave you in severe financial crisis situation unless you have a back up source of medical insurance policy which takes care of all your hospitalization expenses. A good health policy will not only support you financially but will also lift your emotionally during the time of health crisis. Thus, one good health insurance plan is directly proportional to your financial solutions, emotional stability and social image in the society.
While there are hundreds of insurers in the market selling out thousands of health policies the major question is which is the best health policy that suits your needs? Even though the awareness programs are on rise, a reluctant approach is adopted when buying medical insurance policies. The reluctance is developed due to the lack of knowledge about the possibilities of some good health plan offered in India. Besides, there is limited knowledge about the factors which should be considered when buying medical insurances and successful filing of a mediclaim.
While health policy not only covers your financial aspects during health crisis but it also helps you to avail the impressive tax benefits in India. At times people with the best of minds buy best health insurance with the sole motive of saving tax but fail to consider the intricacies of buying a comprehensive medical insurance plan which offers them maximum benefits at minimum premium payment thereby offering the longetivity to the lives of them and their loved ones.
Some important factors which need to be considered to make the best of your health insurance plan in India are:
- Number and age of the members included in your medical insurance policy.
- Quote the maximum amount of sum required to provide coverage to the members in the policy. You should select a sum insured depending upon your premium payment capacity because higher the coverage, more the premium payment amount and vice versa.
- Look for riders which you can add to make the best of your health policy like critical illness rider, accidental cover.
- Have knowledge about the medical check-ups in case one has attained a pre-defined age.
- Knowledge about successful filing of a claim and various reasons which can be constraints in successful filing of a claim.
- Well aware about the best insurance plan providers and their policies.
- Claim a free year bonus which every insurance provider offers to its customers for a claim free year.
- Most importantly you should be well versed with the claims procedure to get the optimum benefit of your policy
Health is Wealth and there are several ways to protect your wealth. One of the best and modern ways to protect the wealth of your life is buying a suitable insurance plan for you and your family. Some people may decide not to obtain insurance simply because they are not sick at the moment. But you may never know when the circumstances can turn against your health. It is the safest way of shielding the healthy future of you and your loved ones. A health insurance is not a luxury, it is a necessity.