Withall that has been happening since the start of last year, we have realised howimportant financial protection is. With over 78 million people across the worldaffected by COVID-19, getting medical treatments have been a common expense allaround. This is where a health insurance policy provides what you need themost: Financial backing.
Ifyou have not got your health insurance policy, it is high time to startplanning on getting one. With the coverage that such policies provide, you canrest assured knowing that you can get the best medical treatment without havingto worry about the finances. Now, when it comes to buying a health insurancepolicy, there are many options out there. Numerous insurance companies willstart calling you and try selling their products. But how do you know which insurer to go with?
Donot worry too much about this. In order to find a good insurer that can providethe besthealth insurance policy, you need to keep a few things in mind whilecomparing your options. Take a look at some of the tips listed below which willgive you a good idea:
1. Focus on thecoverage you need
Insurancecompanies provide different types of coverage to suit every individual’svarying needs. There are specific health insurance policies for senior citizens,women, critical illnesses, individuals, families, and so on. The coverage ofthese policies differs from one another. Decide which type of insurance youprefer to go with.
2. Go for aninsurer that has a good claim settlement ratio
Avery important aspect that a lot of policyholders miss out on is to check theclaim settlement ratio of the insurance company. This is because you shouldchoose an insurance company that has an excellent record of settling claims ontime without any hassles. So, the higher the claim settlement ratio of theinsurer, the better!
3. Check theinsurer’s list of cashless hospitals
Thereare two ways in which you can use your health insurance policy.One is to pay for all the medical expenses yourself and then use your policy toget reimbursed. The second one is to simply avail cashless hospitalisationtreatment where you do not have to pay anything. The latter option is naturallythe one that is much more convenient. However, it is also important to ensurethat you have chosen an insurer that has tied up with reputed hospitals forcashless treatment.
4. Inquire aboutthe co-payment terms
Manypolicyholders prefer to opt for co-payment while buying their policies. Aco-payment feature means that you as a policyholder will have to pay a certainamount of the hospitalisation bill from your account, and the rest will betaken care of by the insurer. This helps in lowering the premiums of yourinsurance plan. So, if you are interested in opting for co-payment, you should inquireabout the co-payment terms of the insurer.
Nowthat you know about the aspects you need to be focusing on, you can easily finda good insurer. We hope this article helps you find an insurance policy whichsuits all your requirements. All the best!
