What Are The Coverage Options To Look For When Buying A Health Insurance Policy?

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Medical emergencies are one of the many unknowns in life. They take place when least expected. Health insurance coverage is almost a must, given the rising expense of healthcare in India.

However, with so many choices, it might be difficult to choose an insurance plan that will be ideal for you. Go through the following list of factors that will help you choose the best health insurance package for you and your family:

  1. The age requirement

When it comes to choosing a health insurance plan, age is an important determining factor. The age of the family members who need to be insured should be considered when buying medical coverage. The price of the premium, much like in a family floater insurance, would be based on the age of the oldest family member.

You should also look into the age restriction criteria when purchasing health insurance. For instance, some health plans have entry-age requirements that range from 91 days to 60 years, with 91 days being the least and 60 years being the maximum. And other plans include age restrictions ranging from 25 years old at the youngest to 50 years old at the oldest.

  1. Choosing the right premium and coverage combination

Purchasing health insurance with the lowest premiums can be gainful. There may, however, be two sides to it. If a policy has a lower premium and offers you comprehensive coverage at a price you can afford, that policy may be a suitable choice. The other factor is a lower premium that comes at the expense of insurance coverage. ##

  1. The provision for a waiting period

You would be in a better position to decide if you were aware of the waiting period rule. During this time, the insurer will not accept any claims resulting from pre-existing conditions or specified illnesses. And depending on the insurer and the plan you have selected, it can be anywhere between 24 months and 48 months. Make sure you compare health insurance plans before buying.

  1. Benefits of cashless hospitalisation

Typically, health insurance companies partner with network hospitals so that insured individuals can receive cashless care in the event of a medical emergency. You avoid having to complete the tiresome documentation that is necessary for admission and claim. Additionally, the insurance pays the hospital directly with the insured amount.

  1. Maternity expenses are covered

Many people make the error of ignoring the maternity benefits in health insurance coverage. It is best to choose a health plan that includes maternity costs as well, given the sky-high cost of delivery and maternity care. Typically, there is a 2 to 4-year waiting time before you can apply for benefits. For instance, a plan with a two-year waiting period will work for you if you intend to get married or start a family in three years.

A health insurance premium calculator is a tool you may use online to determine the amount of coverage required based on your needs.

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply.

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.