Health Insurance is unavoidable for common people. Please consider below points before buying any health insurance.
Don't get trapped in marketing jargon, everyone has different needs please go with what you want. If you are the who think its a expense. Please put the equal amount your premium in index stocks. I am sure you will get your money back.
- Room Rent Cap: Ensure no room rent cap or you might end up in paying more.
- City Coverage: Based on your location check the number of hospitals covered around your place.
- ICU Cap: Ensure no ICU cap.
- Disease Sub Limit: Please aware is there any disease sub limit set.
- Policy Limit: Ensure policy limit.
- Consumables: Now many insurance provides consumables without additional cost.
- Network Hospitals: Ensure your insurance provider covers maximum hospitals, ensure its not tight up with specific hospitals and also ensure zone A and zone B are covered.
- Claim Settlement Ratio: Ensure CSR rating is good
- Renewability: Ensure good lifetime renewable policy
- Waiting Period: Very important to check this most of the policies have ~2 to 3 years wait time.
- Addons/ Riders: Check for the possible riders that comes with additional cost
- Fine Print: Please read the fine print document that explains all the details about the policy
- Sufficient Cover: Based on your family, be careful to take sufficient cover
- Medical History: Please be truthful while declaring medical history, if they found false info your policy might void
- Age: Earlier the best, even if you have a corporate policy still it is advisable to take health insurance. If you are 40 > please take it asap.
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