Are you ready to take charge and manage things during a medical emergency? When wespeak of medical emergencies, you might have the essential numbers on speeddial and might have planned your next steps; however, these are not the onlythings you need to worry about. The finances required to deal with suchsituations are crucial. You can never be sure of unplanned medical emergencies,and this is why you should always be prepared with the finances, or a good healthinsurance policy to make sure your expenses are covered.
Thereare several insurance companies out there offering various different health insuranceplans. You should place focus on getting a plan that will be enough to coverall your needs and requirements.
Tohelp you pick a great health insurance plan, we have listed down 4 quick tipsto help you compare different health insurance policies:
1. Check aboutthe waiting period for certain diseases and pre-existing illnesses
Inmost cases, the coverage for certain health problems such as a knee replacementsurgery, hernia, and so on kicks in only after around 2 years of purchasing thehealth insurance policy.Also, there will be a waiting period for pre-existing illnesses like diabetes, high blood pressure, asthma, and so on. This waiting period can be around 4years. Remember to inquire about these waiting periods when choosing aninsurer. It is better to choose an insurance company that has a short waitingperiod on their insurance plans.
2. Check aboutthe coverage for hospital room rent
Incases of hospitalisation, there is only a fixed amount that goes into thecoverage of your room rent. For example, if you have a health insurance policy of Rs.1,00,000 on which there is a 1% upper limit for the coverage of your roomrent, you will only be able to claim reimbursement for the room rent for a maximum amount of up to Rs. 1,000 per day. Check about this cap limit before buying your health insurance policy.
3. Opt for aninsurer with a good claim settlement ratio
Theclaims settlement ratio is the number of claims that the insurance company hassettled over the total number of claims it has received. A good claimssettlement ratio would mean that policyholders are enjoying a smooth processwhen it comes to getting reimbursement. This is why you should always inquireabout this ratio before buying a health insurance policy from an insurer. Agood insurance company would always maintain their claim settlement ratio above90%.
4. Compareinsurance policy premiums
Youshould always compare the premiums that various insurance companies arecharging for their health insurance plans. Based on your financial flexibilityand healthcare needs, shortlist the insurance companies that are offeringpremiums that suit your budget. Keep in the mind the coverage you need beforefinally picking a plan.
Wehope that these tips help you find the perfect healthinsurance policy that suits all your needs. All the best!
