Tips for buying health insurance

1.       Validate your requirement

If you have E. S . I. or any kind of govt panel viz for govt employees for medical contingencies or your employer already has offered a group insurance to you as part and parcel of your C.T.C. then just go for a blanket cover only which should be used in cases such as you leaving the employment or something like that. Just don’t get a health insurance for the heck of fulfilling the claim of tax benefit u/s 80d of income tax act

2.       How much Health Insurance is required?

The answer to this question depends majorly on your life style, quantity of family members and your existing insurance. Getting over insured is also loss incurring like getting under insured though not to that extent. Since there is no tool to calculate the exact sum insured required  one should use these easy steps to come to the approximate assessment. See for the kind of hospitals you wish to get treated at and the design of the charges being levied by them for critical yet common surgeries and packages; for instance chronic hypertension and diabetes are common in todays era due to the lifestyle being followed by us yet they have regular and expensive treatment. This will make you reach the idea for how much amount the cover should be for. Add over its future value as the cover might be sufficient today but in later years say after 5 or 10 or may be 20 years later the charges for the same would have been increased and we all know that the probability of getting ill gets higher in the higher age brackets.

3.       Go for the best policy and not the cheapest policy

After deciding the amount of health insurance required for yourself and your family comes over the bigger question of which policy to go for. The design of health policies has been changed with time and due to the multitude of policies being offered by different insurers its rather confusing. Compare a few policies from different insurers and decide. The best bet here are the third generation policies being offered which have higher no of day care surgeries being covered and higher no of network hospitals offering cashless facility. Also do see for the cover restoration and recharge facilities being offered by the insurers which is quiet a new feature offering double the cover and going to the extent of three times and more than the parent policy. Your health insurance advisor would be able to offer you the details and shortlist the right product. The most important part still would be that the neighborhood hospital and the hospital which you trust the most should be empanelled with the insurer which can be checked in the list of network hospitals for cashless settlement of claim

4.       Right Health Cover

Due to the design and schemes being offered in the health insurance industry you should be very specific while going for the right health cover. The health cover should be taken in a chronologic way in case you are going for multiple covers. The first policy to be taken should be indemnity cover (the one reimbursing the actual expenses widely known as cashless policy). Post that if you wish to be more secure you should go for critical illness and accidental insurance policy and later the daily cash hospitalization plans. Howsoever just don’t go for a health cum insurance plan as they don’t suffice the basic agenda of a health plan.

5.       Always choose a family floater over individual policy

Insurance depends on the fundamental of probability. There is a very low chance of all the family members getting ill in an year  and an even lower chance of multiple family members being treated for critical things thus generating a hefty hospital bill. Moreover family floaters are cheaper than individual policies. Family floaters; also known as umbrella cover are cheaper and more effective than individual policy being taken on name of all the family members. For instance take a family floater of 5 lacs instead of taking individual policies of 2-2 lac each for family members wherein family floater has the advantage of cheaper premium and an option of utilizing the insurance cover for multiple family members upto the extent of the sum assured.

Contact Details :- 

Cashless Bima

Address: Vishal Chamber, 516, 5th Floor, Sector-18
Noida U.P - 201301 (INDIA)
Customer Support: +91 9711116322.
WebSite - www.cashlessbima.com
Email - info@cashlessbima.com