How to Buy Health Insurance?
Mar 31, 2021

How to Buy Health Insurance?

There was a time when health insurance was considered a luxury. The perception slowly changes over the years due to the rise of lifestyle-related health conditions, critical illness, and medical inflation, making health insurance a necessity. Health insurance is a contract plan between the insurance company and the policyholder where the policyholder pays a regular premium to the insurer. In return, the insurance company pays the medical insurance incurred, such as hospitalization bills, medical expenses, surgery expenses, etc. In this blog, we will talk about how to buy health insurance online in India.

How to buy health insurance?

While buying an online health insurance is a tough choice, few elements should consider before finalizing the policy.

- Selecting the right plan and amount

There are numerous health plans suitable for all—students, young families, senior citizens, people with diabetes, weak heart conditions, etc. Thus, the first thing to do is to identify the right health insurance that fits your requirement. Do you need a cover for any pre existing diseases? or families, senior citizens? Once you list out the top priority, it will be easier to choose the plan and amount.

- Hospital network who have a cashless process

A cashless process is a service where one can get the medical treatment done without paying the bill. The health insurance company will directly settle the hospital bill on the spot. There are 4000–8000 hospitals in India that offer cashless networks. The cashless network is varied from one health insurance company to another.

- Coverage offered

The health insurance policy you choose should have these five core elements of coverage:
  • Providing up to 100% coverage for in-patient hospitalization coverage.
  • Covering hospital room rent allowance.
  • Covering many daycare treatments such as cataract surgery, hernia surgery, chemotherapy, etc.
  • Covering pre and post-hospitalization expenses.
  • Sub-limits to specific medication and treatment.

- Other benefits

  • Usually, the health insurance plan offers other benefits, such as companion benefits, physiotherapy, maternity benefits, etc.
  • Top-up health insurance at a lower premium - where the policyholder exhausts the sum insured during a medical emergency, can get the additional benefit without paying the bills from the pocket.

How to buy health insurance online?

With the evolving technology, buying health insurance in India has become easy and convenient. Numerous health insurance companies have different choices as per the client's requirements. One can compare health insurance plans considering coverage, benefits, cashless hospital network list, etc., of any health insurance policies according to their need. The convenience, safety, and online availability of trusted partners have made tremendous health insurance growth in India. Not only can one find the best policy in less time, but one can buy the policy via online payment traction through a secure payment gateway.

How to buy medical insurance?

The most asked question when it comes to insurance is how to buy medical insurance. Is it safe to buy it online? Well, it is definitely safe. Buying medical insurance online can get you great deals and save you money by providing you the quotes that meet your needs and prices in the budget. In five easy steps, one can buy medical insurance online:
  • Fill in the details such as name, age, gender, marital status, city of residence, occupation, income, and several members need to get insured in the comparison engine.
  • The engine will redirect you to the page where you can list various medical insurance companies' plans. You can shortlist the plan and compare the quotes according to your need and budget.
  • Once you select the plan, proceed to submit, and you will be redirected to the page where you can see a health declaration form. Carefully read and fill in the details.
  • Once you are done filling the form, you will be redirected to the insurance company page to make the online payment via a secured getaway.
  • Once the transaction is cleared, you will be issued a policy with a digital signature on it. The policy is the document you need to keep with you and presented in the event of a claim.

FAQ

1. Which site can be trusted for buying health insurance online?

How to buy health insurance online? To make sure the health insurance you are buying is not a fraud scheme, Bajaj Allianz, is a prominent Indian insurance web aggregator, specializing in offering a comparative analysis of the various insurance products, making it easy for people to choose and compare health insurance as per their needs.

Final Thoughts

Health insurance ensures the policyholder at the time of medical emergency, the whole or part of the medical expense will be paid by the insurance company. Apart from covering hospitalization expenses, medical insurance can also act as an investment tool and save tax. The premium amount is eligible for a tax deduction in Income Tax under section 80D.

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