Yes, Investing in health insurance in India is necessary. Because medical costs in India are becoming increasingly expensive. By paying a small amount of premium, you can secure your own as well as your family members healthcare needs. We may feel healthy and as if we are going to live forever healthy life. But sometimes very unexpected things happen in life, at that time if you don’t have enough pocket money and health insurance what will you do?
Health Insurance comes handy in case of accidents covering Pre hospitalisation and Post hospitalisation. A heath insurance policy also gives you tax exception under section 80 D of IT Act in India. There are many insurance companies in India. Choosing the right policy depends a lot on your own decisions. People lose their health to make wealth and then lose all their wealth to regain health. This indicates that health and wealth dwell side by side. Health Insurance companies play a vital role when it comes to buying a health insurance plan within their budget which can offer a wide coverage.
Tips for choosing Insurance policy.
1. Policy Cover:
It is necessary to make sure that you go for the policy which covers all your medical expenses. It should cover wide range of medical elements, even the critical illness, hospitalisation, transportation etc. This has to be decided from a long term perspective, taking into account the cost of medical treatment not just for today but for a term of say 15 to 20 years or long term.
2. Policy Exclusions:
Always do look at the points which are being excluded from the policy. In case the exclusions includes something which is your priority, then do not opt for such a policies.
3. Policy Claim Process:
The best policies to buy are the ones where you get the claim settled easily. You need to check overall process of your insurance provider and do not forget to check the claim settlement ratio. Higher the claim settlement ratio, stronger is the trust you can have in them as they are fair in providing settlement.
4. Policy Hospital Network:
It is one of the importance factor in case of emergency hospitalisations. Most of us bother to check whether or not a particular hospital is included in the cashless list of network hospitals. And identify the one that offers the maximum geographical coverage from the view of an emergency hospitalisations.
It is advisable to buy a health policy from policy Broker, ask for their licence number and check if the details provided are correct from the IRDA website. This brokers are independent and are paid only when they sell a policy. An insurance agent on the hand sells for one company only and hence he will generally push that company and its benefits.
Finally health insurance in India is one step forward towards safeguarding your own health and the health of your family, in case need arises. Choosing the right health insurance for you and for your family is a serious business and in order to avoid any financial crises during the times of emergency, it is advisable to choose the health insurance wisely.