Criteria To Choose Best Health Insurance

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Criteria To Choose Best Health Insurance



Caps and sub-limits - Imposition of sub limits, Co-payments or other caps might reduce the premium you pay for the insurance policy but would limit the benefits in a similar or a worse proportion.
Claim settlement record -This might be an ultimate decider for weighing the insurance plan’s credentials. Although this information might not be available publicly or might be present in a manipulated state, experts expect it to be of more value to the customers in near future than it is currently.
Scope of coverage -Weighing premium vs. plan’s benefits is more necessary while defining the plan to be a comprehensive one. Buying a plan just because it’s cheaper than other plans is bad decision making.
Renewability - Most of the diseases confront you after you reach a certain age which is bracketed as “old”, therefore it becomes highly important to buy a plan which has a very high or a lifetime renewability so that you are not left on your own, when you need a medical cover the most.
Cashless Hospital Network - Checking for the hospitals around you those are covered as a network hospital by the plan you consider is imperative, as this allows you to avail the service of that hospital without getting into the hassles of claim reimbursements from the insurer, rather benefiting from the cashless facility given by the network hospitals.
Premium Loading - We would suggest one to always check the terms and conditions pertaining to premium loading, this might save you from paying a high incremental premium once you make a claim for the sun insured. The best practice would be to verify the premium fluctuation data of the plan for previous 5 years the least.
Internal team - Check for the plans from insurers which have an internal team for mediclaim, this might help in expediting the claim settlement process to a good extent.
Floater(family) size - Everyone has a different family size, one should always look for the family floater size allowed under the plan before considering buying it, so that no member is left uncovered for health related problems.

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