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Which Health Insurance Plan is Best for You?

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

A health insurance policy is a financial tool that protects you from the costs associated with a variety of health-related expenses resulting from mild illnesses and injuries to major diseases. Therefore, if you have a significant medical bill, your health insurance coverage and accumulated bonus safeguard your financial security.

 

Choosing appropriate health insurance in India is challenging but crucial if you want to be well-prepared for any unexpected medical emergency and, in some situations, anticipated medical bills. Imagine receiving a diagnosis of a severe illness that calls for ongoing care, a stay in the hospital, and surgery. To protect yourself from debt and massive hospital bills, you must buy health insurance that covers the maximum medical treatment expenses. The best health insurance will support your financial condition and provide world-class treatment for medical emergencies.

 

What do you mean by Health Insurance?

A medical or health insurance policy is an agreement wherein the insurance provider commits to cover the insured's medical costs should they become ill or injured and need emergency care. Health insurance firms partner with networks or chains of hospitals practically everywhere so that covered patients can receive care without paying cash.

 

Need for Health Insurance

One's health is surrounded by so much uncertainty that it is practically impossible to have any control over medical costs. However, once you've signed up for an appropriate health insurance plan, you'll be able to exert some control and feel more secure about the costs of your family's medical treatment. There are infinite ways to respond to the question "why you need health insurance," but here are a few of them:

 

Rising Medical Costs:

In recent years, India's medical inflation has not only kept up with but well outpaced that of its retail equivalent. The price of prescription drugs, physical exams, hospital stays, and procedures keeps rising. Instead of paying such outrageous medical costs out of your pocket, it makes more sense to pay the minimal health insurance subscription and become insured. To ensure your financial security both during and after a medical emergency, it is essential to enrol in a health insurance plan.

 

Cashless Treatment:

The ability to pay for medical emergencies without cash has made the process simpler. You can get cashless treatment through our nationwide network of hospitals without submitting an insurance claim and waiting for your payments to be paid back.

 

Tax Benefits:

Best health insurance protects you from the financial effects of a medical emergency and offers you significant tax advantages.

 

What is the Best Way to Choose the Best Health Insurance Plan?

The best health insurance plan should be chosen after taking into account a variety of aspects. Some key parameters are listed below:

 

The sum insured amount:

It is preferable to search for policies that give both the minimum and maximum levels of coverage since you can select the appropriate sum insured to pay anticipated medical costs.

 

Availing of cashless services at network hospitals:

The most significant health insurance plan offers a sizable network of hospitals and guarantees cashless services. Finding a network hospital in your neighbourhood and making use of the cashless claims can thus be made more accessible.

 

Premium:

The policy's premium must be reasonable compared to other insurance plans. Take into account both the cost of the premium and the benefits of the coverage when calculating the premium rate.

 

Pre-existing waiting time:

If you or a family member has a pre-existing condition, it is advisable to select a plan with a shorter waiting period so that you can start receiving coverage for these conditions as soon as possible.

 

Add-on riders:

Many health insurance plans allow you to enhance your policy coverage by including extra riders. To tailor your coverage to your needs, seek policies that allow you to add additional riders.

 

The cost of healthcare is rising so quickly in the modern era that purchasing a health insurance policy that can cover your medical costs is crucial. There are many policies of health insurance in India that shield you and your loved ones from high hospital charges while enabling you to live a happy and secure life. There's a chance that when it comes time to get medical insurance coverage, you can always choose from platforms like Niva Bupa.

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