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Health InsuranceHealth insurance covers the risk of hospitalization expenses, medicines costs, room rent costs, means it covers the cost of everything related to the hospitalization of insured.
How to choose the best health insurance policy?
When you decide to buy a mediclaim policy, you got confused because there are many companies which provides mediclaim. So, these are the common factors which will help you to choose the best.
- Pre-hospitilization expenses
Before a person got hospitalized he spent too much on medicines, checkups etc. So,
pre-hospitalization covers those expenses too. But there is a difference in different companies policy. Some company covers for 30 days and some covers for 60 days. So you can consider this factor while choosing a mediclaim.
- Post-hospitalization expenses
As like pre-hospitilization, a mediclaim policy also cover the expenses of after getting out of hospitalization like medicines, checkups, vaccines etc. Different companies covers different no. of days. Some companies covers 60 days and some covers 90 days.
Claim settlement ratio shows that how many claims a company has settled in comparision with no. of claims recieved. So, you should choose a company which have high claim settlement ratio.
Click here to see the companies which have high claim settlement ratio.
Insurance companies have tied up with the hospitals. So you should check out the tie up hospitals with the company near your area or in your city. If cashless facility is is not available the procedure will be too long. You have to pay your bills first in the hospital and show that bill to the company. It will take 1-2 months in claim settlement.
- Don't always go for low premium
Some campanies provides
mediclaim on too low premium which is a good thing but not everytime. May be the claim settlement ratio of that company is too low. So , with the premium checkout the claim settlement ratio also.
In some companies, there is a fixed value which you can can spend on particular disease, room rent, medicines. If the costs goes beyond the limit you will have to bear yourself. Usually the companies which have no sub-limits have higher premium. So, you should choose the company which dont have sub-limits.
For existing diseases, Companies have a waiting period. For example if somebody have tuberculosis, for that particular disease companies have a waiting period. After that preiod they will cover the expenses related to the disease. But different companies have different waiting periods. So, you must go with the one which have less waiting period.
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