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Is Investing In Health Insurance In India Necessary?

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.
5.Policy  Broker:
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.

Conclusion:

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.

About goanworld11

Indian blogger

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