7 Things To Keep in Mind While Buying a Health Insurance Policy?

1. Medical insurance required

In this era of ever increasing medical expenses, it is wise to take a mediclaim policy at the earliest. A few days back, Vaibhav Rathi broke his leg in a bike accident. When he reached the hospital, he came to know that he also had a hairline fracture in his head. The cost of treatment of both can come to two-three lakh rupees. Rathi had to spend this money from his own pocket.

Why buy a health policy?

The expenditure on health is increasing continuously and now lakhs of rupees are being spent in the treatment of minor diseases. In such a situation, it is necessary to take health insurance on time. It helps in reducing the load on your pocket.

2. Why buy a health policy?

The expenditure on health is increasing continuously and now lakhs of rupees are being spent in the treatment of minor diseases. In such a situation, it is necessary to take health insurance on time. It helps in reducing the load on your pocket.

3. Ready to help you

In case of medical emergency, 80 percent of the cases get spoiled due to money problem. In the event of an accident, not only do you have to spend money on treatment, but your earning capacity also decreases. Accordingly, the accident person gets a double whammy.

4. Big advantage with less investment

For health insurance, you can manage your medical expenses by paying small premiums at regular intervals. It is necessary in today’s era.

5. No waste of money

Many people consider taking mediclaim or health insurance as a waste of money. If you do not need to claim it, then it is a very good thing. There is no substitute for staying healthy and well, but it can save you a hole in your pocket if you ever need to. After paying a nominal premium, it is wise to take a health cover of Rs 5-7 lakh.

6. Understand then move on

Before taking a health plan, understand its condition carefully. If you are not able to understand by reading yourself, then take the help of someone knowing. Comparison and details of plans of all companies are available on the online site. Health policy carefully understand each clause, then pay the premium. Buy the plan by understanding the liability of the company in case of critical illness, pre-existing illness and accident.

7. Benefits of buying early

In the case of health cover, it is said that if you take cover sooner then you will have to pay less premium. If you take the cover before the age of 40, then you can get the maximum benefit without any condition. Young people usually have less diseases. In this sense, the insurance companies keep the premium low for them. By renewing it on time every year, you will continue to get the benefit of no claim bonus. A married person in the middle income group should take a cover of at least five lakh rupees.

8. Exacerbation of chronic disease

While taking health insurance, give accurate information about your medical records to the insurance company. If you give some wrong information, then the health insurance company can refuse to give you the claim, due to which you will have to face problems during the treatment.

What is not included?

Before buying a health policy, understand what is not included in it. In some policies, cover of critical illnesses can be taken under the rider, while in some, coverage is not available in case of accident due to domestic reasons. Buy the policy only after clearing all these things.

9. No sub limit policy

Avoid limits like room rental limits in the hospital. It is not in your hands that in which room you should be kept during your treatment. It is not right for you to set any sub-limit by the health insurance company for the expenses. While buying a health policy, keep this in mind and do not take such a policy.

10. No chronic illness coverage

If you have taken a Critical Illness plan that requires long-term treatment, then claiming in this situation means your premiums increasing continuously. Do not fall into this trap of getting a new policy. Take a policy that can be renewed at any point of time in life.

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