5 Things that you must check in your Health Insurance Policy
It is always a perplexing situation when we try to look into something new. One of these things is finding the best health insurance policy for yourself and your family.
Several companies provide customers with a range of policies to choose from. This may sometimes cause doubts within the minds of the customers since they need a credible source that can tell them that the premiums they are paying are safe and they will surely receive a claim in the future. Just as we want to be sure that our online ordered product should be good in quality, similarly, the policy that we are purchasing should be served to us in the best way possible.
To find out which policy is the most suitable one for you, you must always start with research.
It will take a lot of research
Instead of going on anyone’s recommendations, it is better to search for what you are looking for yourself. Buying a health insurance policy will take some research work. You can surf through the internet, look into the websites of several insurance companies and see what they have to offer.
You need to be aware of your requirements before looking for policies:
- Whether you want an individual policy or a family floater policy
- What diseases do you want your policy to cover?
- The premium amount you can pay
- What kind of benefits are you looking for?
- Coverage of pre-existing diseases and waiting period
Look for a cashless network of hospitals
By taking the cashless service, you won't have to pay your medical bills yourself as your insurer will directly deal with them. Also, you must look into insurance companies that provide a large network of top hospitals. Make sure the network hospitals provide the best services as well as cashless services for your ease.
Check for room rent capping, exclusion list and co-pay clause
See whether the policy has a room rent capping or not. Having a room rent capping means that there is a certain limit of room rent that your policy will cover. For example, your policy may cover room rent up to Rs 2,000/- only. Any expenses more than this amount will go out of your pocket. Always see for maximum room rent allowance.
Every insurance policy has an exclusion list that shows what diseases will not be covered in your policy. Also, check for the co-pay clause in the terms & conditions of the company. A co-payment clause tells you that a part of your treatment will be paid by you, say, 20% of the medical bill. The rest of the amount will be covered through the claim.
See if your cover will be relevant for you or not
With the increase in lifestyle disorders, it is necessary to have an insurance policy that will cover a large number of your medical expenses. If your age is more than 40 years, you might want to go for a higher amount. Therefore, be conscious of your needs and requirements before purchasing the policy.
Look for add-on benefits
A maternity add-on benefit to your policy might be a good option if you are a newly married couple or looking to start a family. Similarly, many more add-on benefits are provided by the health insurance companies today as per the needs of the customers. You need to research the benefits that the company will provide you with such as restoration benefits and many more.
It is always better to research properly before you want to purchase a health plan so that you can know your policy better. Instead of buying a health policy in a rush, you can take out some time out of your hectic schedules to experience a safe claim journey for your family in the future.
How can ClaimTherapist help?
If you find any difficulties in understanding some technical jargon or terms & conditions of your health policy, we are here to assist you. We will look for the best hospital among the network of hospitals under your policy and provide you with suitable pick & drop services as well. We can decode your insurance for you easily within a few minutes. So, reach out to us for any kind of policy-related assistance!