Health insurance is a necessity in today’s world. However, financial and medical jargon can be difficult to comprehend, which is why the process of investing in health insurance can seem more tiresome than it actually is. With so many different policies available in the market, picking the right one can be much harder than it looks. On paper, a policy may seem great, but when it translates to real life scenarios, you may find that your safety net has way too many holes in it. Therefore, instead of selecting a popular brand’s policy and just hoping for the best, take matters into your own hands by understanding health insurance and seeing how affordable health insurance can help you.
How can you benefit from health insurance plans?
Investing in insurance plans for your health can help you and your family in numerous ways. Some of these are:
- Covers on Major Diseases: Certain health insurance plans cover a number of major diseases. By understanding your family’s medical history, you can leverage this fact to your advantage and ensure that if you do fall sick, the cost of recuperation does not drain your finances.
- Cashless Benefits: When you do go to a hospital for any procedure, you can avail the cashless benefits of your policy. This means that once the hospital accepts your insurance, the insurer settles the bill directly with the hospital. As a result, Cashless health insurance has become one of the most popular types amongst insurance buyers.
- Financial Aid during Recuperation: Not everyone has stacks of money lying at home. With health insurance, the financial component of recuperation is covered (to the extent provided by your policy). You do not have to add money woes to your stress. You can simply focus on getting better!
- Riders and Benefits: Health insurance providers allow investors to add certain riders to their existing policy. You can customize your policy to your needs. For instance, if your family has a history of developing cancer, you can add a Cancer Care rider to your policy.
The specific benefits of your health insurance plan depends on the plan you choose. Reading between the fine print and consulting with a trusted financial advisor can be the best way for you to choose a policy that makes the most sense.
How to renew your health insurance?
If you have a policy that you are happy with, you can always ask your health insurance provider to renew the same. Certain policies come with a lifetime renewal option. This means that the policy is automatically renewed when the term expires. Depending on the policy you have chosen, you pay an additional premium for the renewal either at the time of expiry, or upfront while buying the health insurance for the first time. You can renew either renew the policy on by logging on to the insurer’s website or offline by contacting an authorised representative of the insurer.
How to find the right insurance plan?
If you are buying health insurance for the first time, the idea of picking the right plan might be a little daunting. After all, there are so many options out there! It is important to analyse and evaluate all the features of the plans you are considering before choosing one. Here are some pro-tips that can help you when you are choosing health insurance:
- Consider your family’s medical history while choosing health insurance. Certain plans cover certain diseases, while others may not.
- It is not always compulsory to add riders to your policy. Unless you are absolutely sure of a certain policy and want to add a rider for a critical illness it may not cover, you do not need any add-ons.
- When you are looking for affordable health insurance, the cheapest option is not always the best. Compare health insurance plans to see what they offer and do not just go by the premium rates.
- Keep an eye out for diseases specific to your gender to make the most out of your policy. For women, this means checking for maternity benefits, along with covers for specific diseases like cervical cancer.
- Even if a lifetime renewal option is available, you might want to test the waters with this policy first. It will give you insight into whether the policy is a good fit for you.