More or less we all need to visit the hospital right? And apart from getting the right treatment, one of the concerns that we all have is the sky-rocketing medical bills. As a matter of fact, it is the high hospital bills because of which many of us cannot afford good treatment. This is why we all should consider the idea of a health insurance policy. Once you have a health insurance policy, you do not need to worry about the hospital bills. You do not even have to think about the process of bill payment in cash. You can simply opt for a cashless health insurance plan. If it is a planned treatment, you can simply update the insurance company about it and the bills will be taken care of by them.
While you are planning to purchase a health insurance policy, the toughest part becomes finding the best health insurance company in India. Since there are so many health insurance companies in the country, it can be very confusing, especially for first-time policy buyers to choose any one company. So, let us discuss some of the tips that can help you to make up your mind and decide on a health insurance company in India.
Credentials of the company
Checking the credentials of the health insurance company is one of the first and most significant things that you should do. This will give you a fair idea of the kind of coverage that you can receive from the company. This will help you to understand that if you are taking a health insurance plan from a company, what are the chances that your claim will be approved. Doing this will also help you to find out how much approachable is the company, and how easily it will resolve your queries. While you are checking the credentials of the health insurance company, make sure you check the claim settlement ratio as well.
A company that offers you a variety
By variety, we mean several types of health insurance plans. You must shortlist health insurance companies that provide the choices of various types of plans and their features and budgets. This means the company does not target a specific type of customer but has something for everyone. This will also help you to choose from several types of health insurance policies.
Cashless hospitals network
Checking this is very important as this will determine if you can get the possible treatment in the city you live in. By the kind of network hospitals they have on their list, you will be able to understand if you should choose them or not. Checking the network hospitals is also significant since you will be able to find out if the hospital you prefer is in proximity to your home or not.
Waiting period on coverage
The waiting period on the coverage of the health insurance plans is put by every health insurance company. Therefore, you need to check which health insurance company puts the least waiting period on the coverage. This will later help you to claim the coverage when there is an actual need for it.
Renewal age on plans
You must check the renewal age on plans. Most of the insurers keep the renewal age when the insured reaches the age of 70 years or 80 years. Around that age, policyholders not only get much older and develop more diseases but the medical treatments also get costlier. Therefore, you must look for a health insurance company that provides coverage for a much longer period.
These points are very helpful in finding the right health insurance company. You can also visit the IIFL website to find the majority of health insurance companies under one umbrella. Once you find the right health insurance company, choosing the policy does not take a lot of time.