How to get the most appropriate health insurance?

Everyone is aware of the saying, “Health is wealth.” Lord Krishna once said, “A man even after possessing the entire world’s wealth is poor if he is unhealthy.”

Everyone is aware of the saying, “Health is wealth.” Lord Krishna once said, “A man even after possessing the entire world’s wealth is poor if he is unhealthy.”

Well, there are no better words which can describe the importance of good health. And what helps a person sustain good health is a suitable health insurance.

Few essential tips to get the most appropriate health insurance are given below.

Do a thorough check on the contents of the policy:

This is the 1st step towards getting the best health insurance. And the best way to analyze and find the most suitable policy is to do it online for 2 reasons.

  • It’s very convenient
  • You can easily compare health insurance quotes of different insurance companies online.
  • You get to choose from lot of options without trouble - Chasing all the insurance companies to figure out the most suitable one is a challenging task. Also it gives you limited number of options to choose from. However, when you choose the online way, you can browse through all the leading insurers in India at ease. In this way, you will be able to compare from an array of insurance quotes and select the most appropriate health insurance.

Tip- Look for “Request for Quote” option on website. Most companies have this option on their website. It’s the easiest, cost-effective and time-effective way to analyze the offering of individual companies and select the one which suits your needs.

Decide on the type of insurance you need

It’s important that before purchase one analyzes which kind of insurance they need. There are 2 common options available.

  • 1) Individual health plan: Covers the individual against health emergencies.
  • 2) Family floater: Covers the entire family against health emergencies.

Remember 3 things to mention correctly while you fill the form-

  • Mentioning the correct age groups of all family members
  • You need to mention the sum insured amount which you’re expecting
  • List down the correct contact details (If changes at a later then keep the insurer informed to avoid any communication problems especially during emergency)

Further you can browse through 3 essential aspects of health insurance to remember-

Ensure the availability of cashless treatment

A person can avail comprehensive treatment from empanelled group of hospitals as mentioned by the particular insurance company, all this without paying anything. It’s because your insurance company will be liable to settle your claims with the concerned hospital.

If operated in a non-network hospital then ensure you get reimbursed

Ensure that there’s a clause in the insurance policy of getting reimbursed when operated in a non-network hospital. When one submits the original bills & other specific documents within stipulated timeframe, he can get a reimbursement from the insurance company.

What’s CSR?

The term CSR is known as “Claim Settlement Ratio”. It’s important to check claim settlement ratios of health insurance providers. If a company shows an upside CSR of more than 90%, it’s termed good.

Note- Track the company’s minimum 3 year’s CSR. It will tell you about the firm’s quality of service towards its customers.

Once you have checked all the above points, you will be in a better position to decide the best health insurance plan as per your requirement.

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