On what basis do you select a health insurance policy for your entire family? Do you know the policy that you have purchased is the best amongst the lot? The best way to ensure that you have your hands on the right policy is by comparing multiple policies before purchase. Comparison helps you to understand the different features and benefits, premiums, and so forth provided by different insurance companies for health insurance in India . In order to make comparisons, follow these techniques given below in order to grab the right policy as per your needs:
5 techniques to compare health insurance:
- Consider the premiums and coverage
While comparing policies, a majority of people make decisions based on a lower premium. While the premium rates are an important factor for purchase, the coverage provided by the company should be taken into consideration as well. While a majority of insurance companies cover the cost of treatment as well as hospitalisation, certain companies allow the restoration of sum assured benefit. Therefore, finalize that policy which provides comprehensive coverage with the lower rate of premiums.
- Take a look at the waiting period
When a policyholder has been diagnosed with a disease at the time of purchase of the policy, then the general insurance company will initially exclude the coverage of that ailment. While the number of years excluded from the coverage is known as the waiting period, the ailment is termed as pre-existing diseases. The waiting period provided by the insurance companies is for 2-3 years. Ideally, the plan with a less waiting period should be taken into account when you compare health insurance .
- Check the limits and sub-limits
When you purchase a health insurance policy, they have their limits when it comes to the remuneration of expenses that you receive. At times, there are cappings mentioned on the expenses of room rents, ambulance charges, cataract treatment charges, and so forth. Hence, opt for a health insurance policy that provides higher compensation limits for your claims. Moreover, see to it that the policy which you finalize has no-sub limits.
- Look for bonuses and rebates
Every policyholder makes a claim at a certain point after the purchase of the policy. However, there are times when few customers don’t register for claims for a longer duration of time. The insurance companies provide the benefits of Cumulative Bonus (CB) to those who haven’t made a claim since a long time after the purchase of the policy. Other than that, insurance companies make provisions for various rebates in order to keep the policyholder locked-in for a longer duration of time.
- Understand their claim process
Everybody makes claims in times of medical exigencies for financial support. If the process of registration of claim is unclear, then the entire purpose of the purchase of the policy makes no sense. With the help of Bajaj Allianz Health Insurance, a policyholder can utilize the benefits of cashless settlement as well as utilize the network hospital during any medical urgency. Additionally, their network hospitals allow the policyholder cashless hospitalization by ensuring not a single penny goes out of his pockets.
Now that you know the techniques of comparing numerous health insurance policies, what are you waiting for? Whether you’re looking for health insurance for a family or health insurance for senior citizens, keep these tips in mind in order to land up with the best plan. Make sure that you also look into the list of diseases not covered under health insurance . We, at Bajaj Allianz General Insurance, aim to make the life of all its customer easy by providing quick cashless settlement, NCB benefits, comprehensive coverage, and so forth.