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How To Pick The Right Health Insurance Policy That Covers Your Family?


Medical bills grow with time as we grow. COVID-19 Pandemic taught us the importance of having health insurance. There are a variety of health insurance policies to choose from, each with its own set of coverage advantages. One thing you need to understand, there is no such thing as a single health insurance policy that covers all of your needs.


A Quick Checklist :

  • Waiting Period - Less
  • Network Hospitals -Vast
  • Claim Settlement ration - High
  • Disease Wise Limit - Absent
  • Pre & Post hospitalization coverage - High
  • No claim bonus - High
How To Pick The Right Health Insurance Policy That Covers Your Family?

Now, you know the checklist! Let's know in detail how to pick the right health insurance policy?

Look For A Suitable Sum Insured Amount

It's always good to go for the insurance policy that offers maximum coverage. As medical expenses are going high, health insurance that offers maximum coverage within the amount in your income limit will work excellent for you.

Select The Correct Type of Coverage

Health insurance comes in different types, few that suits individual "A" and few that suits individual "B". If you are looking for health coverage that covers all the family members, it's would be better to go with the family floater plan (FFP). FFPs are designed to cover the entire family's health expenses in one plan. FFP allows you to buy one single health policy rather than spending money on multiple for every member of your family.


Check The Amount flexibility of The Oolicy

Money's worth fluctuates over the year. It's a smart idea to get yourself and your policy amount ready for changes spent on health insurance. The majority of insurance firms offer the option of increasing the quantity insured over time.

Select a Waiting List for a Pre-Existing Disease

There are a number of terms and conditions that come with health insurance. Pre-existing diseases are also specified under terms and conditions. It means that if you have a disease prior to enrolling in a plan, a claim for treatment for that condition will be granted when the insured has completed a specified waiting time.

Premiums Are Compared

Compare the premium before making any buying decision. Benefits, premium. features, maximum returns are some points that should be taken care of while checking the premium amount and the insurance policy of your choice that fits your needs.

Check The Maximum Age For Renewal

When it comes to choosing health insurance coverage for your family, policy renewal is one of the most significant considerations. Most health insurance companies only offer policies up to the age of 65. However, some policies include the option of renewing your health insurance for the rest of your life. Based on your family's medical history and other health factors, you should choose the best one for you.

Insure With The High Claim-Settlement Ratio

The number of claims settled by the insurer as a percentage of the total claims received is referred to as the claim settlement ratio. If you choose a health plan from an insurer with a high claim settlement rate, you can be assured that your claim will not be denied until the insurer has a solid reason.

Effortless Claim-Settlement Procedure

Policy experts recommend that you first understand your health insurance provider's cashless and reimbursement claims settlement processes before stepping into the buying decision of a health insurance policy. Whether it is a single health insurance policy or a family health insurance policy, a smooth claim settlement is preferred and recommended by everyone.

Cashless Hospitalization

A health insurance coverage entitles you to access treatment at network hospitals, which are a collection of hospitals affiliated with a specific insurer. Almost every health insurance company offers cashless hospitalization, which saves you the time and effort of collecting and filling out paperwork. This service is only available in their network hospital. Having a cashless hospitalization facility with the policy allows you experience a hassle-free task. This makes the settlement procedure easy and reliable.

Tip to reduce cost

  1. Instead of opting for a high coverage base plan, select a base plan of low coverage and add up a top-up plan.
  2. Prefer a family floater policy covering your entire family instead of buying standalone plans.

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