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Health Insurance Tips and Tricks : 10 Smart Tricks To Find The Best Health Insurance Plan in India
We tend to ask for recommendations when we are new to some fields. It is common for us to ask for recommendations on restaurants, books, movies, etc. Some of us even ask our friends for health insurance policy recommendations.
It is a noble idea to ask for recommendations, but what works for your friend or relative might not work for you. If you buy a medical health insurance policy on your own, you understand and learn more about the policy.
Here are 10 smart ways to find the best health insurance plan in India.
1. Right Sum Insured
One of the main reasons for buying a medical health insurance policy is to offer financial freedom from medical expenses. Look for a plan that offers the highest sum assured. This would ensure that you or your loved ones get the best treatment available.
2. Insurer’s Repute
You can compare insurance policy on offer by various insurers to aid you in the buying process. During comparison do not forget to check out the insurer’s reputation. You would want to buy a policy from an insurance company that is approachable and helps you when in need.
3. Network Hospitals
Insurance companies have tie-ups with several hospitals. If you visit these hospitals during an emergency or even a planned visit, you can exercise cashless claims. Your insurance company would settle the charges with the hospital so that you can focus on getting well.
Also Read: Best Insurance Policy for NewBorn Baby in India
4. Add-Ons
If you wish to make the most of your medical health insurance policy, you can opt for a base plan along with add-ons. Though the add-ons come at a small premium, their benefits can far outweigh the premium.
5. Compare Insurance Policy
Comparing health insurance plans by insurers will help you save considerably on premiums. While also getting a feature-packed policy. You can take the help of any insurance aggregator to compare the policies.
6. Family Floater Plan
It is advisable to opt for a family floater health insurance policy. This will safeguard the health and finances of your loved ones. Family floater plans offer quite a bit of feature and at times a bit more economical as well.
7. Details Related to Age
Health insurance plans usually have limits and conditions when it comes to the age limits of family members. You can check the age limits for the youngest and oldest family members as you compare policies.
8. Incurred Claim Ratio
An insurer with a higher incurred claim ratio is desirable. A better ratio indicates better chances of your claim being settled.
9. Sub-Limits
As you compare insurance policy, look for sub-limits. Essentially, health plans have limits for each component such as room rent, ambulance charges, etc.
10. Feature Loaded
One must not jump at the most affordable plan available, rather look at the features on offer. A policy with a well-rounded cover is what you need, at affordable prices.
The above tricks will help you bag the best health insurance policy out there.
Over to You
Care Health Supreme and HDFC ERGO Optima Restore are among the best health insurance policies in India today. It is a matter of your priority, coverage depth over cost effectiveness. Here’s a quick recap for you to make an informed decision.
Both offer coverage of up to ₹1 crore; Optima Restore starts at ₹3L, Care Supreme at ₹7L. Supreme offers unlimited recharge; Optima Restore offers 100% once a year, after a claim is made. Care includes OPD + unlimited e-consults; Optima lacks OPD, allows one consultation/year. Care gives a 30% discount + 500% bonus; Optima offers 8% discount + 50% bonus. Care Supreme is costlier but has more features. Optima suits budget buyers; Care fits those needing wider, long-term coverage.
Whichever health insurance plan you choose, ensure to read the policy wordings and seek advice from an expert before you make the purchase. The best health insurance is the one that covers you the way you want to be covered.
Speak to an Advisor Both offer coverage of up to ₹1 crore; Optima Restore starts at ₹3L, Care Supreme at ₹7L. Supreme offers unlimited recharge; Optima Restore offers 100% once a year, after a claim is made. Care includes OPD + unlimited e-consults; Optima lacks OPD, allows one consultation/year. Care gives a 30% discount + 500% bonus; Optima offers 8% discount + 50% bonus. Care Supreme is costlier but has more features. Optima suits budget buyers; Care fits those needing wider, long-term coverage.
Whichever health insurance plan you choose, ensure to read the policy wordings and seek advice from an expert before you make the purchase. The best health insurance is the one that covers you the way you want to be covered.
Author Bio
Paybima Team
Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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Jan 08, 2025
Health Insurance
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