/content/nivabupa/in/en/bank,/content/nivabupa/en/in/digital/home/app-form2,/content/nivabupa/en/in/digital/home/thank-you1,partner.nivabupa.com
/content/nivabupa/in/en/agent

Secure your health with comprehensive insurance plans from Nivabupa

Tell us a bit about you

Whom are you buying for ?
Myself Icon Individual
Wife Icon Husband & Wife
Family Icon Family
Enter valid name
Enter Valid DOB
OTP sent Resend OTP
otp icon
OTP Expires in
I authorize Niva Bupa to call me. This will override your existing registry in DNCR. I want to get my quote and policy details on WhatsApp.
FIND MY PLAN

Insurance Schemes in India: A Guide to Choosing the Right Plan for You

Posted On : 04 May 2023, 11 Months Ago. Health-Insurance
Insurance Schemes

The debate of making healthcare insurance a crucial aspect of one's financial arsenal has been revived due to the availability of different health insurance schemes in India and the growing costs of healthcare facilities. Yet choosing the appropriate health insurance scheme is just as crucial as looking for medical insurance coverage.

 

This article will dive into factors that should be considered before buying a health plan in India.

 

A health policy provides coverage for medical expenses through the premiums paid by the policyholder, the coverage provided by the insurer, and the necessity. In India, most medical insurance plans cover nursing, treatment, and diagnosis costs. Some policies additionally offer add-on features to specific needs.

 

How to Choose the Right Health Plan?

Given the wide range of alternatives available today, managing the healthcare insurance market can be challenging. Choosing the best insurance for you involves more than simply evaluating the benefits and cost; it also involves selecting the one that best suits your unique medical requirements. Starting with the fundamentals is crucial if you want to end up with the correct health plan:

 

Assess Your Healthcare Needs

Before you start looking for a health plan, it is essential to assess your health insurance needs. This includes age, medical history, lifestyle, and pre-existing conditions. Once you clearly understand your healthcare needs, you can choose a plan that offers the required coverage.

 

Make Wise Coverage Decisions

Given that medical treatment expenses are rising quickly, choosing a health insurance scheme that provides the broadest possible coverage is advisable. Hence, ensure that your policy provides enough coverage to account for inflation. For instance, an essential heart operation can cost up to 4-5 Lakhs, which is a significant sum for a family in the middle class. If you have medical insurance, the insurance company will cover the cost of the procedure, protecting your money.

 

Select the Amount Insured Carefully

The health policy sum insured depends on your age and marital status. While young, you may not require a big sum insured as you are less prone to ailments at a young age. But, as you age, you become more vulnerable to several ailments, including lifestyle disorders like diabetes, high blood pressure, etc. You should select the insurance amount after considering the health of your spouse when you get married.

 

Check the Network of Hospitals

Most health plans have a chain of hospitals they are tied up with. These hospitals are called cashless; you can get treatment without paying any cash upfront. Check if the plan has a tie-up with hospitals in your locality or city. Also, check if the plan covers hospitals known for their expertise in treating your medical condition.

 

Evaluate the Waiting Period

A health insurance scheme has a waiting period before certain benefits can be availed. For instance, pre-existing conditions, maternity expenses, and specific illnesses may have a waiting period. Check the waiting period for the plan you are considering and ensure it aligns with your healthcare needs.

 

Compare Plans

Comparing health insurance plans from different insurance companies can help you make an informed decision. Look for similar coverage plans and compare the premium, waiting period, and additional benefits. Also, consider the insurance company's reputation and customer service track record.

 

People frequently make mistakes while purchasing a healthcare insurance policy by looking at the coverage level for the lowest premium amount. Of course, the cost of the premiums should be considered when purchasing a health policy, but it also guarantees that the coverage will meet all of your needs. A new health insurance scheme will give your family much-needed financial help in the event of your untimely death. Living a stress-free life depends largely on selecting suitable health insurance schemes in India.

Secure your health with comprehensive insurance plans from Nivabupa

Tell us a bit about you

Whom are you buying for ?
Myself Icon Individual
Wife Icon Husband & Wife
Family Icon Family
Enter valid name
Enter Valid DOB
OTP sent Resend OTP
otp icon
OTP Expires in
I authorize Niva Bupa to call me. This will override your existing registry in DNCR. I want to get my quote and policy details on WhatsApp.
FIND MY PLAN