Purchasing the health insurance policy is just one thing. But, purchasing a right one just keeping in your mind the medical and the personal requirements is something which many people lag in.
I totally agree that the health insurance may sound quite boring and technical too. Though, the tons of advantages which the medical insurance might offer will surely ease out the medical concerns.
Let us dig out deep into a scope of the coverage. As, the health insurance might give you, securing the finances at the same time! In order to make the things easier for the common man, I have just explained how to protect your family and buy right health insurance policy in case you pay attention to the following elements.
Individual or Family Floater Plan
It is a very first step. It must ideally be a deciding factor in order to purchase a right health insurance plan. The individual health insurance policy is just nothing but only separate plan for each family member. It provides the individual sum insured. While the family floater plan actually covers all of your members of the family. It gives a single floater sum assured that is shared among all family members.
This makes a sense to choose for the family floater plan as it is pocket-friendly. To add more to it, you get the bigger cover. But, hold on for a minute!
If you are having a family member. And he is above fifty years old or anyone who gets ill usually. Then you must purchase the individual cover for the member. If you do so then you are decreasing your premium for the floater policy. And chances of a large sum assured getting wiped out at just one go are finished.
Hence, in case you get such decision rightly. Then your main medical concern is just taken care of!
Did You Select A Right Sum Assured?
Yup, you have heard this correct! Gone are the days when your parents or probably your grand-parents got a sum assured of 1 lakh or 2 lakhs sufficient enough.
Nowadays, because of the advancements in the medical technologies and the inflation, the medical treatments have just reached the sky high. A correct sum assured must not be judged basis just the ‘premium’.
There’re a few chances that you may get just a few advantages in real by only paying the relatively higher premium. While, on the other side, you might be over-insured in case you purchase the health insurance policy which offers the advantages or the services that might not be helpful to you.
You need to understand this fact that the health insurance policy gives you the financial well-being during the medical emergencies. When you might be concerned about your premium at large, this makes sense to study the personal requirements before zeroing on a correct amount of sum assured. It is how selecting a right sum assured would keep the medical concerns at the bay!
What Does the Health Insurance Policy Actually Cover?
Still not aware what the correct health insurance policy must offer? Few people are not well-aware of anything beyond the hospitalization charges. That is why I am sharing the below coverage which makes the ideal health insurance policy.
- In-patient hospitalization – The hospitalization expenditures are taken care by the insurance company. This is so if you are suffering from the illness or the injury because of the accident. A doctor’s fee, the ICU charges, the cost of an operation theatre, nursing expenditures and much more is depending on a health insurance policy that you opt for.
- Pre & Post-hospitalization expenditures – The medical expenditures suffered before the hospitalization are basically known as the pre-hospitalization expenditures. For example, blood tests, sonography results etc. While the medical expenditures after the hospitalization are the post-hospitalization charges. For instance, Follow-up medical tests as well as consultation after a surgery.
- Daycare – The medical treatments which are conducted under the local or the general anesthesia which needs the hospitalization for less than twenty-four hours are referred as the day-care treatment. It might include Chemotherapy, Lithotripsy piles, Colonoscopy, Radiotherapy, Eye treatment etc.
- Domiciliary – Sometimes there may be some urgency in order to undertake the medical treatment at one’s own home. The reason might differ from lack of the accommodation to the travel restrictions to a hospital. This kind of a treatment at the home for an injury or some illness is domiciliary hospitalization.
Does the Health Insurance Take Care of the Immediate Needs?
Are you the victim of your lifestyle conditions? Is diabetes or blood pressure taking the toll on the health?
So, let me be honest enough to inform you that there are not all the health insurance policies that offer the coverage for your lifestyle diseases. Though you would require to keep the eagle’s eye in order to hunt for the insurance plans by doing the hard-core research on the internet.
Hence, this is good to tell an insurer in case of the pre-existing diseases. In case you are actually suffering from a problem of blood pressure or diabetes etc. then before even you might purchase the health insurance policy, must inform the same thing to the insurer.
Also, there is the waiting period in order to cover these kinds of pre-existing diseases. So, you must be clever enough in order to opt for the insurer which has the minimum waiting period. It is how the medical concerns take care in case of the lifestyle conditions. You need to identify that correct health insurance policy which will act as the supervisor and give you non-stop care and security. This makes a sense in order to pay a little high premium rather than running around in order to arrange the funds for the medical treatments as the need arises.
Did You Check the Room Rent, the Sub-Limit, And Co-Pay?
This will be heart-wrenching in case you get to know that the insurer will pay you only half a room rent than the actual one. Yeah, sad but it is true! You must check out the room rent, sub-limit, and co-pay.