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Quick question: What do you think shapes your life, chance or choice? Whatever your answer to this question, there is no denying the fact that life is uncertain. When you get unexpected good news, you feel blessed. But bad things can cause your citadel of happiness to crumble.
When it comes to health, taking chances or making choices can make all the difference!
Consider for instance, an illness or injury. No one can predict when it will strike. What can be assumed to be true is financial strain and mental agony, given the rapidly rising medical inflation and resulting stress.
While there are bound to be circumstances over which you have no control, a number of preemptive steps can help you live a healthier and happier life. They can add years to your life and win you the admiration of family and friends. That’s the beauty of choice!
Your future self will surely be grateful if you adopt a healthy routine of exercise and eat right starting today. After all, the current state of your health is the result of years of hits and misses too. A good first step would be to take an inventory of how healthy you look and feel.
After consulting your doctor and making lifestyle changes, take a good look at getting Health Insurance or renewing it. A host of Health Insurance options are currently available in the market that can put you at ease regarding rising medical expenses. Go ahead, compare Health Insurance plans after identifying your top three requirements and assess what the plans have to offer.
In the long term, investing in a balanced Health Insurance plan can multiply your returns in terms of assured treatment options and give you peace of mind. By now, we’re sure you have a good idea of the type of coverage you need for the foreseeable future.
Begin by researching plans that offer flexibility and adequate coverage. To compare Health Insurance plans, read reviews and call a few companies you may have shortlisted. In the final scheme of things, coverage and preconditions are key factors to consider. The cost of your plan, though important, should not take precedence over its utility.
Healthwise, comparing where you are today with where you want to be can be the defining moment of positive change. With Health Insurance plans, the best reviews do not necessarily mean you’ll get the benefits you’re looking for.
Separating fact from fiction is a fine art that earned Sherlock Holmes his spurs as detective supreme. When you compare health insurance plans from various insurers, you get a broad understanding of what’s available and buy the best one suited to your needs. The satisfaction of making a good choice is an added benefit.
Want to know how to compare Health Insurance plans? Let’s get started.
Your Budget
Is this plan affordable? How much do I need at the end of the month? These questions need to be answered when you compare health insurance plans. Consider your current monthly expenses, savings goals and long term financial vision to arrive at a number that leaves you with enough cash in hand for sundry expenses.
Figure out whether paying premiums in installments or in full works best for you. To avoid keeping track of your premium payments, you can set up premium payments to be debited automatically from your savings account too. What’s more, you’d be able to enjoy that cricket match on the weekend, instead of paying your premium.
Number of Members Covered
Every time you look at your family portrait hanging on the wall, you probably are reminded of the fond memories you’ve shared together. Health Insurance can help you protect and nurture your family so that those precious moments can be cherished for years to come.
In case you want to buy Health Insurance cover for your family, medical insurance comparison is essential. When you Compare Health Insurance, you get to figure out the policy which covers most members of your family, from toddlers to the elders.
Claim Settlement
A Health Insurance plan that does not deliver quickly is not worth the money, for it defeats its purpose. On your way to the hospital, the last thing you’d want to be concerned about is if your Health Insurance plan covers you.
When you compare health insurance plans, claim settlement ratios of the insurer you are opting for is surely something to pay attention to.
Coverage
This one’s the most important. When you compare Health Insurance covers, you get to understand their pros and cons and determine and also if the benefits they offer are worth investing in. From discounts to tax benefits, getting additional information can help you make a better decision with the long term in mind.
Like a canopy that protects you from unseasonal rain, the coverage offered by your Health Insurance plan defends you against financial instability in a health emergency.
After you have selected your Health insurance option, you can pay using multiple payment options. You can choose to pay through credit card, debit card or net banking as per your convenience.
You will receive your policy almost immediately! As soon as you are done with your payment, we will issue the policy and email a copy of your policy document to you.
A Life Insurance policy will not be useful in case of any hospitalizations or treatment that you need to avail in case you fall ill or meet with an accident. By getting health insurance, you secure your mental health at the time of such medical emergencies. Hence a health insurance policy becomes necessary even if you already have life insurance.
The key factors that determine the premium of your health insurance policy are listed below-
● Sum insured
● No. of members to be covered
● Ages of members covered
● Pre-existing diseases
● Optional add-on covers
To compare health insurance plans objectively, here’s our recommend checklist.
We call it the 3C’s of Health Insurance plans- Coverage, Claims settlement and Claims Support. We’d also add Cost effectiveness to the list in terms of discounts, tax benefits and lastly, the priceless feeling of calm that buying Health Insurance gives you!
Firstly, categorize plan benefits to help you compare Health Insurance plans at a glance, making the task effortless. An excel spreadsheet (or a piece of plain paper!) can help you make medical insurance comparisons easy and effortless.
Cost v/s Benefits
Is my plan worth the money? This question occupies centre stage when it comes to comparing Health Insurance plans, and with good reason! One may be tempted to opt for the cheapest available plan. However, that may be a recipe for disappointment.
The cover offered by a plan is the ideal yardstick with which to measure whether a plan is affordable or not. You must also consider the add-on-covers offered by the same.
Network Hospitals
Network hospitals are those which have tied up with your insurance provider. You can avail treatment at these hospitals absolutely free of cost.
Before, opting for a policy, it is very important to check the list of network hospitals associated with your insurance provider. Most importantly you should check whether the network hospitals are located in your area.
Room Rent Limit
Hospitals vary in terms of room rent charges. Depending on the type of room and the facilities you opt for, you may have to pay a rather substantial amount. In fact, the amount of coverage offered by insurers can differ widely as well.
So, that’s an easy point of comparison for you. All things being equal, opt for the policy which offers the maximum cover for room rent. You’ll never regret it!
Exclusions
As with all things financial, there are certain conditions that apply to Health Insurance as well. Rather than being caught unaware, it is always a good practice to get to know the aspects in which coverage may not be available.
Some of the typical exclusions for Health Insurance plans include pre-existing illnesses, cosmetic surgery and alternative therapies.
Policy documents are a good place to begin when it comes to understanding the exclusions under your Health Insurance cover. For additional information, you could also visit the insurer’s website or call their Customer Service division.
Doing Your Research Well
Buying your Health Insurance plan online has its benefits. Bajaj Allianz, for one, offers many different benefits when you buy our health plans online.
However, whether you are going to get your health insurance online or offline, it is important to ask the right questions. The quality of your questions will determine whether the plan you end up buying serves your needs in the best possible manner.
Since insurance is a subject matter of solicitation, it makes imminent sense for you to think about the plan you’re committing to. The time you spend on research will yield good dividends in the long run.
Need based Approach
To perform at his/her best, an athlete undergoes rigorous training and fitness conditioning involving thousands of hours of drills and practice routines. They are backed by an army of professionals that assist them with staying on track with their training, nutrition and recovery regimen. The result: Peak physical condition and a winner’s attitude.
While you may not have sporting ambitions, when you Compare Health Insurance plans, think of your current physiological condition - age, medical history, general state of health. After all, Health insurance premiums tend to vary based on medical history. As your source of love, inspiration and support, your family’s health needs also need to be taken into account. They have a major role to play in how you show up in the world.
Assess your current cover and compare health insurance policy before renewal
The most important reason why you’d buy a Health Insurance plan is the coverage offered by it. Ultimately, what good is health insurance if does not provide adequate cover during medical emergencies? Read more
Check the coverage offered by the plan as the first step while comparing Health Insurance plans. While most policies offer the same basic coverage, there are variations in terms of absolute limits. It is better to avoid a policy that offers a multitude of features most of which are redundant.
Your Health Insurance plan may offer a host of benefits such as ambulance charges, hospital room rent etc. While there is a broader sum insured, there are individual sub limits under each of the offerings. Read more
To avoid surprises, you should pay special attention to the sublimits. This may save you a lot of disappointment when you make a claim against your policy.
Also referred to as the waiting period, this is the period from the date of purchase wherein certain diseases are not covered. Different policies have a different waiting periods for different sets of diseases. Read more
Thus, it is always commendable to check the waiting period of a particular health insurance policy before going on to buy the same.
Arguably the best feature that Health Insurance plans offer, Cashless Claims make it possible to avail medical treatment virtually free. That may be a bit of an exaggeration, but what we mean is that this marvel does away with the need for liquid cash for your treatment. Read more
This facility is offered by the insurer at a number of affiliated hospitals. Also called Network Hospitals, having one of these in the immediate vicinity of where you live, is something you should aim for.
If you want to buy a comprehensive cover for your family, keep a close eye on this one. The age of entry for family members - children, parents or parents-in-law - should be clearly defined. You must also make sure to check for the upper age limits for your children.
“Sorry! We don’t cover this ailment”. As disappointing as it sounds, there is a real possibility that you may not get coverage during hospitalization if the condition you’ve been diagnosed with, is excluded under the terms of the policy. Read more
Our advice: Go through the fine print carefully and be aware of the medical conditions that are not covered to avoid surprises.
Like your parathas with a dollop of extra ghee? Well, Add-on benefits works in a similar way. They enhance the benefits your standard Health Insurance cover offers. Just like cufflinks and pocket square give your well-tailored suit added character, add-ons increase the scope, coverage and benefits of your health insurance plan.
As average life spans increase, you should opt for Health Insurance plans with lifelong renewal facility. This can give you ongoing coverage against a variety of illnesses and help you retain the much needed medical cover for life.
Ultimately, affordability is a major consideration when it comes to Health Insurance premiums. You obviously do not want to pay a ton for your health insurance cover, when you could have got better options at a cheaper rate. Read more
The amount that you ought to be paying for your health insurance plan should be justifiable and appropriate relative to the benefits it has to offer.
Thank You for Your Interest in Bajaj Allianz Insurance Policy, A Customer Support Executive will call you back shortly to assist you through the Process.
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Disclaimer
I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.
Tips to compare health insurance: Long-terms, family plans may offer additional concessionss
Be Financially Prepared For Any Financial Emergencies
At Bajaj Allianz, we aim to build relationships for life with our customers. Our plans are designed to help individuals, families and communities manage their health in a sustainable and pocket friendly manner. Across India, thousands of discerning customers rely on our Health Insurance solutions to improve the quality of their health.
Our aim is to reduce the worries of healthcare for you and help you succeed in life. To this end, we offer world-class Health Insurance solutions that offer the average customer financial stability and peace of mind.
We believe in transparency and clearly mention all the information in a comprehensible manner on our website. But if you still have questions, our chatbot, BOING, is at your service to answer any questions you may have. When you need us to deliver we never disappoint. Our network of over 6000 hospitals is spread across India where you can get treated in a completely cashless manner.
A long life deserves ongoing Health Insurance renewal. The benefits offered by our policy in lieu of the premium amount are unmatched.
Here is a brief comparison between our different policies. Take a look!
Features |
Individual Health |
Family Health |
Bagic Extra Care plus
|
| Policy tenure options | 1, 2 and 3 yrs
|
1, 2 and 3 yrs
|
1year
|
| Entry age | 3 months to 65 yrs |
3 months to 65 yrs |
3 months to 80 years |
| Who can be covered | Self, Spouse, Dependent Children, and extended family |
Self, Spouse, dependent children. Separate policy for extended family |
Self, spouse, dependent children, dependent parents can be covered |
| Renewal age | Lifetime renewal options |
Lifetime renewal options |
Lifetime renewal options |
| Sum insured options | 1.5 - 50 lakhs |
1.5 - 50 lakhs |
3 - 50 lakhs |
| Waiting period for pre-exisitng diseases | 36 months |
36 months |
12 months |
| Key benefits | |||
|---|---|---|---|
| Ambulance cover |
|
|
|
| Organ donor expenses |
|
|
|
| Sum insured reinstatement |
|
|
|
| Preventive health check-up |
|
|
|
| Ayurvedic/Homeopathic hospitalization expenses |
|
|
|
| Maternity expenses/Newborn baby cover |
|
|
|
| Bariatric surgery cover |
|
|
|
| Air Ambulance cover |
|
|
|
| Features
|
BAGIC Health Guard
|
BAGIC Extra Care Plus
|
|
|---|---|---|---|
|
Health Guard Silver
|
Health Guard Gold
|
Extra Care Plus
|
| Room rent
|
1% of SI per day
|
As Actual |
As Actual |
| ICU Charges
|
As Actual |
As Actual |
As Actual |
| Pre Hospitalisation
|
60 days |
60 days |
60 days |
| Post Hospitalisation
|
90 days |
90 days |
90 days |
| Day Care Treatments
|
All under definition of day care |
All under definition of day care |
All under definition of day care |
| Organ Donor
|
Up to sum insured |
Upto Sum Insured |
|
| Ambulance cover
|
Upto 20000/- per policy year |
Rs 3000/- per valid hospitalization claim |
|
| Air Ambulance
|
Not available |
Optional Cover |
|
| Convalescence Benefit:
|
10 days hospitalisation, Rs. 5000 per policy year |
10 days hospitalisation, Rs. 7500 per policy year |
Not available |
| Daily Cash Benefit for Accompanying an Insured Child (upto age 12yrs)
|
Rs. 500 per day maximum up to 10 days
|
Not available |
|
| Sum Insured Reinstatement Benefit
|
Once in policy period, for similar illness too |
Not available |
|
| Maternity Expenses
|
Not available |
Up to Rs. 35000. After 6 yrs waiting period |
Covered after 1yr waiting period |
| New Born Baby expenses
|
Not available |
Within maternity SI |
Not available |
| Bariatric Surgery Cover
|
Not available |
50% of Sum insured maximum up to Rs. 5 lac |
Not available |
| Preventive Health Checkup
|
Every 3 yrs, 1% of sum insured, max Rs. 2000/-, irrespective of claim |
Every 3 yrs, 1% of sum insured, max Rs. 5000/-, irrespective of claim |
Yes, every 3years irrespective of claims history Max Rs. 2000/- |
| Ayurvedic and Homeopathic Hospitalisation cover
|
Not available |
up to 20000 , available in all approved ayurvedic hospitals |
Not available |
The above table highlights some of the unique features of our health insurance plans. For instance, almost all of our Health Insurance plans reimburse hospitalization room rent costs in full.
Similarly, we offer you cover not only for your hospital stay but pre and post hospitalization as well. Before, you decide chose one among these different options, make sure to go through the policy documents carefully and choose one that suits you best.
Written By: Bajaj Allianz - Updated: 02nd February 2023
Disclaimer
I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.
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