5 Pointers While Buying Health Insurance Plan

Until a few years ago, buying health insurance was similar to booking a flight ticket in the 1990s –one needed contact a travel agent for consulting and booking purposes. Buying health insurance was no different either. You would reach out to a health insurance agent, who would walk you through different plan options, and with their recommendation, you bought a healthcare plan.But, the chances are that your agent may lack the required insight about your specific financial needs and may not necessarily be able to suggest the ideal product for you.

Read More

Policybazaar exclusive benefits
30 minutes claim support##
(In 120+ cities)
Relationship manager
For every customer
24*7 claims assistance
In 30 mins. guaranteed*
Instant policy issuance
No medical tests~
People trust Policybazaar^
6.7 crore
Registered consumers
51
Insurance partners
3.4 crore
Policies sold
Policybazaar is one of India's leading digital insurance platform

0%

Find affordable plans with up to 25% Discount**

Select members you want to insure

  • More Members
  • Back
    Continue
    By clicking on “Continue”, you agree to our Privacy Policy and Terms of use
    Maximum child sum can be 4
    This will help us calculate the premium & discounts for your family
    Previous step
    Continue
    This will help us to find the network of Cashless Hospitals in your city

      Popular Cities

      Previous step
      Continue
      Get to plans directly next time you visit us
      Please provide your active international number
      Previous step
      Continue
      We will find you the plans that cover your condition.

      Do any member(s) have any existing illnesses for which they take regular medication?

      Get updates on WhatsApp

      Previous step

      When did you recover from Covid-19?

      Some plans are available only after a certain time

      Previous step
      Advantages of
      entering a valid number
      You save time, money and effort,
      Our experts will help you choose the right plan in less than 20 minutes & save you upto 80% on your premium
      Advantages of entering an International Number
      Prompt connectivity
      Find the right plan in under 20 minutes
      Get best discounts
      Ensure smooth issuance
       

      These days, buying health insurance online needs minimal assistance. Rather than relying on an agent, you can research and buy the best health insurance plan as per your needs. Since, you are the one who has to make the decision you should know what important factors should be considered:

      1. Decide on the Coverage Amount Wisely

      When deciding on the coverage amount, you must have a long-term view of your health costs. Think about both your medical and financial requirements–from coverage amount to monthly premiums, co-payments (a share of claim that you have to pay from your own pocket), and deductibles (an amount you pay for health care services before your insurer begins to pay). It’s a good idea to assess your needs and identify your priorities so you know what to look for in a plan.

      Let’s understand this with the help of an example. Avinash Sharma, a Delhi-based professional who had undergone a minor surgery in a private hospital received a bill of Rs. 1.4 Lakh. His insurer covered only Rs. 50,000 of the cost, as his insurance cover was not enough. Healthcare costs are rising at a fast rate and what looks like an adequate cover may not be enough in the coming years. Plan wisely, so you will not have to face such monetary crisis in future.

      Read Also-: 6 Easy Steps To Buy The Best Health Insurance

      2. Consider if You Need a Family Floater Plan

      You also need to be clear whether you want to buy an individual cover or a family floater policy. An individual cover will only focus on you whereas a family floater policy will cover the entire family.The premium for family floater plan may be higher as compared to the individual policy, but the premium per person works out to be lower. It’s a calculated risk you can safely take because it is unlikely that all the members will require hospitalization in the same year. However, if any family member has health issues, it would be sensible to look for an individual cover for them so that the premium does not increase.

      3. Compare Hospital Room Rent Capping Clause

      Health insurance policies have room rent capping clause, which means that you are eligible to claim expenses only up to a room costing below this threshold. In case you opt for a room above this cap, you will have to bear the additional expenses. Let’s say, as per your policy your room rent limit is Rs 4,000 per day. Now, if you get hospitalized and choose a roomwith rent of Rs 10,000, then you have to pay the extra Rs. 6000 from your own pocket.

      4. Look for Treatment-Wise Limits and Co-Pay

      Most of the health insurance policies have treatment wise limits on the amount you can claim for specific treatments such as cataract or cardiac treatments. Such limits would cap your claim, even when you have a large sum insured under the policy. You need to weigh this in, before you sign up.

      Another factor that has to checked while buying the insurance plan is co-pay. Co-pay is a fixed amount of the total medical bill that you pay from your own pocket in the event of the claim.For instance, if the approved claim is Rs 1 lakh, and you agree to co-pay a ratio of 10%, you will need to shell out Rs. 10,000, while the insurer chips in with the rest.

      5. Check for Cashless Mediclaim Facility

      Before buying an insurance plan, check whether the insurer provides cashless mediclaim facility. Cashless mediclaim service offers you the benefit of availing medical treatment at your insurer’s network hospitals, without you having to pay from your own pocket. Ideally, while choosing a plan you should look for the ones that have more number of network hospitals in your city.

      Since there are many insurers offering health plans, it is a good idea to do your homework before selecting the best and most suitable health policy. These above-mentioned pointers should surely help you buy the best health insurance plan.

      book-home-visit
      Search
      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

      Health insurance Articles

      • Recent Article
      • Popular Articles
      01 Jul 2024

      Surgeries Covered Under ICICI Lombard Health...

      Life can throw unexpected medical emergencies your way, making

      Read more
      27 Jun 2024

      Is LASIK Surgery Covered by ICICI Lombard Health...

      Waking up with a clear vision is a dream for many. LASIK surgery

      Read more
      21 Jun 2024

      Does ICICI Lombard Health Insurance Cover...

      Cataract surgery is an essential procedure for people seeking to

      Read more
      14 Jun 2024

      Father’s Day 2024: Gift Your Father Health...

      Father’s Day is celebrated every year on the third Sunday of

      Read more
      05 Jun 2024

      Does SBI Health Insurance Cover Dental Treatments?

      SBI General Insurance Company provides comprehensive coverage

      Read more

      How to Apply for Ayushman Bharat Pradhan Mantri...

      Ayushman Bharat Yojana is a flagship health insurance scheme launched by the Government of India to offer universal

      Read more

      10 New IRDAI Health Insurance Guidelines in 2024

      Health insurance penetration in India is far lower than it should be. A significant chunk of the Indian population

      Read more

      10 Major Benefits of Ayushman Bharat Yojana

      Pradhan Mantri Jan Arogya Yojana (PM-JAY) is the second component under Ayushman Bharat Scheme. PM Narendra Modi

      Read more

      Best Health Insurance Plans for Senior Citizens

      Senior citizens are the most prone to diseases. Considering the medical inflation in India, buying health insurance

      Read more

      Does Health Insurance Provide Coverage for LASIK...

      A vast majority of the Indian population is suffering from vision problems. For some of them, LASIK eye surgery is

      Read more

      *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. As per the Insurance guidelines, you are allowed to cancel the policy with-in 15 days from the date of Issuance of policy. For more details, please read the Plan Brochure carefully or talk to our advisor at the time of purchase.

      *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.

      Policybazaar is a registered Composite Broker |Registration No. 742, Valid till 09/06/2024, License category- Composite Broker (Life & General)| Visitors are hereby informed that their information submitted on the website may be shared with insurers.

      Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana - 122001 Contact Us | Legal and Admin Policies

      © Copyright 2008-2024 policybazaar.com. All Rights Reserved.

      top
      Close
      Download the Policybazaar app
      to manage all your insurance needs.
      INSTALL