5 Best Tips to Compare Health Insurance Policies Online

Finding adequate and relevant information about health insurance covers is not a herculean task. There are various sites where you can compare health insurance policies online. You’ll definitely agree the purchase process is faster online. If you want to buy a product which does not require medical tests, it can be bought within minutes.

Although the process is swift and convenient in case of an online transaction, it is advisable to compare the policies before narrowing down on a cover. While you compare health insurance policies online, you must consider five crucial factors including:

Assessing Your Needs

It is extremely important to assess your needs. Find out the term for which you require the coverage. If you are well-established, you will be on the lookout for a major medical plan. In case, you are facing any financial constraints, you may be on the lookout for a short-term medical plan. The cover you opt for should depend on the number of times you see a doctor in a year. Some may see a doctor for preventive care, whereas others may visit a doctor several times a year. If you anticipate a change in medical needs, it is advisable to take them into consideration. If you are planning to have a baby or there are hereditary health conditions in your family, you will need an appropriate plan.

Taking a Look at Your Budget

When you compare health insurance policies online, it is important to know how much you can afford. Take into consideration the premium, co-pay, prescriptions, coinsurance, over-the-counter drugs and services which aren’t covered by the policy. It is natural to look for products which do not pinch the pocket, but it makes sense to opt for an insurance plan with wider coverage than selecting a plan with lower cost. In most cases, plans at lower costs offer lesser services. In case of a low cost plan, the out-of-expenses are usually higher.

Nevertheless, even if you opt for a plan with a wider coverage, make sure that you do not pick all the options available in the insurance plan. It will increase your premium amount. By judging right, you can opt for the right policy while you tighten the purse strings.

Reading the Fine Print

It is of extreme importance to read the “terms and conditions” of the policy when you compare health insurance plans online. This will give you an idea of ailments which are not covered by the policy. Make sure that you ask for sample policy wordings.
Ensure that you read the terms and conditions associated with cashless treatment offered by the insurance provider. With knowledge about exclusions, benefits and in-depth knowledge about the policy, you will be in a better position to step ahead.

Comparing Across Plans

It is best to take time with your decision. Request for a few quotes and compare them. Once you narrow down on a few, compare the details of the insurance policies closely. The plan should suit your budget and take care of your health care needs. Compare health insurance policies according to the services provided. Analyze your personal needs and check if the insurance plan supports your specific requirements. It is best to take into consideration cash-less treatment. Cashless treatment can act as a blessing in times of medical emergencies. Insurance providers have tie-ups with hospitals that are listed in the policy. The network of hospitals provide cashless treatment to the insured. Do check if your preferred hospital is covered in the network.

Additional Factors

If you are browsing an insurance aggregator site, make sure that the information is up-to-date. You should not be misguided by information provided by the comparison sites. It is suggested that you visit the company’s site to cross check the information. Before making an e-transaction, check for the websites Security Certificate (SSL), to ensure that the site is legitimate and safe. A legitimate site will encode files safely.

Some Popular Types of Health Insurance Policies Available in India are:

Individual Health Plan
Family Floater Mediclaim
Surgery & Critical Illness Policy
Pre-Existing Disease Cover
Senior Citizen Health Plan
Preventive Healthcare
Maternity Health Insurance
Personal Accident Cover

Health insurance companies

View more insurers

Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in

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*We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30- minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881.

*Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. Policybazaar does not provide any medical or surgical advice or diagnosis and is not responsible for your interactions / treatment by a medical practitioner/hospital. Please consult a registered medical practitioner for any medical or surgical advice. The Information that you obtain or receive from Policybazaar, and its employees, or otherwise on the Website is for informational purposes only. As per the Insurance guidelines, you are allowed to cancel the policy with-in 30 days from the date of Issuance of policy.This option is available incase of policies with a term of one year or more.

*All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.

**All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.

*₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.

*₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

*₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

*₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

*₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases

*₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.

*₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

*No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

*The values taken for effective cost calculation are indicative values and may change as per the selected plan.

*Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

*Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

*The scope of coverage may vary from plan to plan.

~Source: Google Review Rating available on:- http://bit.ly/3J20bXZ

##On ground claim assistance is available in 114 cities

Tax Benefits are subject to changes in tax laws. GST Exemption depends on fulfilment of qualification criteria and submission of relevant documents as required by the insurers. For more details on risk factors, terms and conditions, please read the sales brochure and applicable rules and regulation carefully before concluding a sale.

STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

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5 Best Tips to Buy Health Insurance Online