Things to Consider before purchasing Health Insurance
One of the biggest challenges of today is to deal with sudden illness or diseases. Moreover, these are any normal in nature, rather the medical costs have only become massive. Something like a minor surgery may cost somewhere between Rs.30, 000/- to Rs.50, 000/- whereas a cardiac treatment may cost as much as up to Rs.4-5 lakhs. With the help of a health insurance policy, you can meet medical expenses as well as medical emergencies in more balanced way than being unprepared for any. There are a number of companies which offer health insurance policies. However, it is important to select the right policy which is in line with your requirements. Take a look at a few points you should consider while purchasing it:
Company Background: Since the number of health insurance companies is large, it is essential to select the ones that are credible. Before opting for one, you should research about the company’s background, the services offered by it, the network of hospitals, and other information. Coverage and non-coverage: Most of the pre-existing diseases are not covered in the initial period of the health insurance policy. Some of the medical procedures such as hernia, dental surgery, etc. may not be included as well. Ensure you check the list of exclusions in the health insurance policy. Cost: With the presence of health insurance companies online, you can easily compare the cost of purchasing a health insurance policy. Look at the benefits provided by the shortlisted companies and select the one that promises maximum services. However, remember to make sure that paying for it is not a burden for you.
Type of Coverage: Depending on whether you are single, married, or have dependents, select the health insurance policy that best provides for the number of members. There are individual health insurance policies, family health insurance policies, senior citizen policies, etc. Different policies have varied range of benefits.
Renewal: The renewal age of a policy may vary from one company to the other. Some of the companies also offer life time renewal. However, it is important to know that medical costs increase with age of a person. Therefore, it is imperative to have health insurance at an old age as well.
