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Here Are The Top 5 Tips For Choosing a Good Family Health Insurance Plan In India


Here Are The Top 5 Tips For Choosing a Good Family Health Insurance Plan In India

We all want a health insurance plan that provides maximum coverage to ourselves and our families. Numerous health insurance policies are available on the market, making choosing one difficult. Consequently, people often buy inadequate health insurance plans and end up with the wrong coverage. Here are some tips for choosing the right medical health insurance plan.


A Guide to Choosing the Best Family Health Insurance Plan

The following tips will help you choose the best family health insurance plan in India:


•    Make sure you have the right coverage

A good health insurance policy should cover pre-hospitalization, post-hospitalization, ambulance charges, cashless treatment, maternity benefits, and inpatient hospitalization and provides a daily cash benefit. When choosing the Best Health Insurance Plans for a family, a person should ensure that the plan will meet the needs of all family members.
Compare the different plans and look for limitations and features to find the plan that fits your needs best. A lot of insurance buyers overlook features such as waiting periods, sub-limits, etc before you file a claim, read the policy carefully.


•    Make sure you check the waiting period

Health insurance typically covers pre-existing conditions, maternity costs, and certain therapies after waiting 2-4 years. After a waiting period of two to four years, most insurance plans cover maternity expenses.
Many insurance companies also offer a shorter waiting period. Check the waiting period on health insurance plans for your family and select the plan with the shortest wait.


•    Check if it is possible to add new family members

A policy buyer should look for easy and hassle-free options to add new family members to their family health insurance plan. If a family member passes away or is no longer eligible for the plan, the family can still take advantage of it.


•    Renew your plan for life

Consider this when choosing the best family health insurance plan. It is vital to confirm whether the policy allows lifetime renewals or limited renewals.
A health insurance policy becomes especially important as we age. Choosing a health insurance plan that offers lifetime renewal options is always a good idea. The policy remains effective regardless of the family's age. It eliminates the need to purchase a new policy. For example, an insurance plan that offers renewal up to 45 years will require the policyholder to buy a new policy with much higher premiums after 45 years are up. An alternative to the annual renewal policy is a lifetime renewal, which allows the policy to remain valid for a lifetime.


•    Make sure the co-payment policy is in place

A copayment is an amount that a policyholder is responsible for paying out of pocket as part of their health insurance policy. However, the insurance company will pay for any remaining hospitalization expenses. For instance, if a policyholder has a health plan with a 10% co-payment clause, the insurer will pay the remaining Rs. 90,000 from a claim submission of Rs. 1 lakh if the policyholder pays Rs.10, 000 from his/her pocket. It is possible to opt for a purchasing policy without a co-payment clause.


•    Rent limit for rooms

Depending on the plan the policyholder chooses, no matter what medical emergency the policyholder faces, the policyholder will get a shared room, semi-private room, or private room. An ideal policy would provide a higher room rent limit so that one doesn't have to pay extra money out of pocket.


The End!

The need for health insurance has become more of a necessity than a choice in modern times. It is important to consider these factors when selecting a health insurance plan. Connect with a healthcare insurance company like Bhumi Finance.