Health insurance is a crucial financial safeguard that covers medical and surgical expenses arising from illnesses or injuries. It either reimburses you for your costs or pays healthcare providers directly (cashless), allowing you to access necessary care without financial burden. With healthcare costs on the rise, having health insurance is essential for protecting your finances and ensuring your well-being.
This plan is tailored for one person, covering a wide range of medical expenses, including hospitalization and daycare procedures, with a distinct sum insured for each insured individual.
A single policy that covers multiple family members under a shared sum insured, making it a cost-effective choice for families.
Specifically designed for older adults, this plan offers coverage for age-related health issues, often including additional benefits like domiciliary hospitalization.
This policy provides financial support for severe illnesses such as cancer, heart disease, or stroke, typically paid out as a lump sum upon diagnosis.
Often purchased by employers for their employees, this plan covers multiple individuals and tends to be more affordable but usually offers basic coverage.
Sum Insured: Ensure the coverage amount is adequate for your healthcare needs—ideally, aim for a sum insured that is at least six times your monthly salary.
Premium Costs: Compare premiums from various plans to find one that fits your budget while offering sufficient coverage.
Network Hospitals: Verify if your preferred hospitals are included in the insurer's network for cashless claims, simplifying the treatment process.
Coverage Scope: Review the medical expenses covered, including hospitalization, daycare procedures, and pre- and post-hospitalization costs.
Waiting Periods: Be aware of waiting periods for specific treatments or pre-existing conditions that could affect when claims can be made.
Exclusions: Understand what is excluded from the policy to avoid unexpected denials during claims.
Additional Benefits: Look for extra features such as no-claim bonuses, restoration of the sum insured, or coverage for critical illnesses.
Claim Settlement Ratio (CSR): Research the insurer’s CSR, which reflects the percentage of claims successfully settled, indicating their reliability.
