How to Buy the Best Health Insurance Policy for You?

There are insurance companies offering a health insurance policy that just might not be right for your personal situation. Everyone claims that they are the best Health Insurance provider throughout the country. For this reason, choosing the Best Health Insurance policy can become a daunting task.

Different type of Health insurance plans provided by different insurance companies has made the choice more complicated. Buying a Health Insurance Policy for you and your family is one of the most important decisions of your life which you can’t take without thinking carefully. The question is, what you should do in this situation?

Well, there are a few factors which you should consider before choosing a health insurance policy for you. We are going to discuss these factors briefly.

Important Factors which you should consider before buying Health Insurance

Claim Process

The claim process is the most important thing which you should consider first before buying a health insurance policy. Claim Process is the process through which you can get your coverage money. The faster the settlement of the claims, the better will be the Health Insurance policy. Therefore, you should look for such a health Insurance policy, which offers a faster settlement of the claims with good customer support.

Family Health Insurance

If you are planning to buy a health insurance policy, you must keep your family in mind as well. You should make a proper list of your family members with their present ailments and medical history. It is also important to check for any pre-existing diseases of your family members before buying a health insurance policy.

Now, after considering all these factors, choose such a health insurance policy, which will cover your family members perfectly. For example, if one of your family members is suffering from Cancer, unfortunately, you should choose such a health insurance policy that provides coverage for Cancer.

Selection of the right coverage amount

The main purpose of purchasing health insurance is to cover your medical expenses for a year. For this reason, you should select the amount wisely so it can cover all your and your family’s medical expenses for a year. Consider your age as well before buying a health insurance policy because you need a lower amount of coverage if you are younger.

The second factor which plays a key role in the selection of the right coverage amount is the analysis of income level. Choose such a health insurance policy, whose premiums are affordable according to your income. So, from an overall perspective, you should buy such a health insurance policy, which can cover your medical expenses efficiently without emptying your pockets.

Network Hospitals

Every Health Insurance provider company has a network of hospitals which you must check before buying the health insurance policy. The network hospitals offered by the health insurance company should be cashless.

It means at the time of a medical emergency or disease which needs hospitalization, the hospitals in the network of your insurance provider should offer cashless options and medical bills should be paid directly by the insurer. Always go for a health insurance provider with a high number of network hospitals.

Maternity Benefits

Apart from medical expenses, pregnancy costs have also increased gradually in recent years. So, for anyone buying a health insurance covering maternity costs, it is a good idea to verify if there are any limits in addition to outpatient costs. You should also determine if maternity outpatient expenses are covered and also confirm if there are any exclusions for this coverage.

consider the waiting period applicable for claiming maternity expenses and consider the sub-limit while looking for maternity benefits. The Health Insurance policy should also cover outpatient expenses.

Pre/Post Hospitalization Expenses

Before hospitalization, some expenses occur when you visit a doctor, undergo tests, and get medicine. These expenses are known as Pre-Hospitalization Expenses. After the hospitalization, you need some medicines for healing and recovery purposes, here some expenses will occur which are known as Post-Hospitalization Expenses. You should always look for such a health insurance policy that covers both your Pre and Post Hospitalization Expenses.

Lifetime Renewal

Look for Health insurance policies that offer the option of lifetime renewability. The chances of getting an ailment or a disease are higher when you are older in comparison to when you are young, so a health insurance policy which offers lifetime renewability will be the best option for you.

Waiting Period

Waiting Period is the time period which you have to wait for claiming your coverage. On the basis of the waiting period, there are two major types of Health Insurance policies: One with a waiting period and the second is without a waiting period. In a Health Insurance policy without a waiting period, you have to answer health-related questions.

On the other hand, for a health insurance policy with a waiting period, you don’t have to answer health-related questions. You can select one of these Health insurance policies according to your requirements and the health condition.

For example, if you are fit and don’t want to answer health-related questions, you should choose a health insurance policy with no waiting period. The situation will be reversed, if you are suffering from ailments are diseases.

Free Medical Check-up

Always select a health insurance policy which insures you of a free medical-checkup facility. However, this facility should not affect the rates of premiums when policies undergo renewal.

Consider these factors before buying a health insurance policy will surely help you in choosing the best Health Insurance policy for you and your family.