The lifestyles of human beings have changed in almost all aspects of living. From eating habits, food products, and work culture to ways of entertaining yourself, everything has become different compared to a generation back. These changes are because of technological advancements and innovations. However, because of these lifestyle changes, there has been an impact on the mental and physical well-being of people. To cope with the effects on physical well-being, you must insure yourself with comprehensive health insurance plans. These plans not only protect you but also protect other members of your family in the event of any medical treatments or emergencies.
What is a Health Insurance Plan?
When an insurance-providing company agrees with an individual to take care of medical treatment costs and hospitalisation expenses for a said period at a cost, this agreement is known as health insurance. Once the agreement gets executed, the individual who pays for this coverage is called the policyholder. The policyholder must pay an agreed amount to the insurance provider, mostly annually, called the premium.
What is the Need for a Health Insurance Plan?
There are various reasons for which you may require this kind of insurance plan, like:
- You require coverage for lifestyle diseases like diabetes, obesity, strokes, and other stress-related heart diseases.
- It even allows you to insure all your family members for medical emergencies and unplanned accident expenses.
- Medical expenses are constantly rising, and a health insurance policy will protect you from this inflation of costs.
- Since the insurance covers and pays all your medical bills, you will not have to spend your hard-earned savings during medical emergencies.
- There is the possibility for you to save some extra money by claiming tax benefits for your annual premiums under section 80D of the IT Act.
What Features to Consider in a Health Insurance Plan?
1) Claim Settlement Ratio:
The claim settlement ratio will let you know what percentage of claims the insurance provider has settled in the past, and the higher the claim settlement ratio, the better their commitment to customer service. For example, the best health insurance company in India has a high claim settlement ratio of more than 95% on average.
2) Network Hospitals:
The insurance provider must tie up with as many hospitals as possible, ensuring they have extensive network coverage. Therefore, please check if the hospitals you prefer are in their network hospitals list.
3) Cashless Hospitalisation Facility:
A primary feature your health insurance plan should have is the facility of cashless hospitalisation. This facility ensures that the insurance provider makes the payment for all the hospitalisation bills and expenses. Furthermore, it makes sure that you don’t have to pay for anything out of pocket.
4) Pre & Post Hospitalisation Coverage:
Best health insurance plans in India ensure that the insurance company pays all your medical treatment bills before and after you get hospitalised. Usually, the plan covers 30 to 60 days before and 60 to 90 days after the hospitalisation.
5) No Claim Bonus:
It is not like every year you will be claiming for medical expenses, so insurance providers give this feature by which you can save money on the following year’s premium. This feature of the no-claim bonus helps when you have not claimed any benefits for the previous year.
6) OPD Treatment Coverage:
Most of the time, when you fall ill, you won’t have to get hospitalised, and all you will require is an OPD or Out Patient Department treatment. The consultations and medications for the OPD treatment will get covered by the best health insurance policy providing this coverage.
7) Home Treatment Coverage:
There are specific medical treatments that you can treat at home, and you don’t have to get hospitalised. A good health insurance plan even covers these home treatment expenses which you will incur.
Why Should You Buy Health Insurance Plans Online?
Some reasons to opt to buy a health insurance plan online are:
- When you buy a health insurance plan online, even before you purchase the plan, you have the option to compare various such plans with available tools.
- Buying a health plan online is a very convenient way of purchasing it because it saves you money, time, energy and effort of physically visiting the insurance provider.
- Getting a quote for the best health insurance in India after you choose all your requirements and provide all the details is fast and automated.
- Even the issuance of the policy is instantaneous once you purchase the policy.
- The complete process of buying the policy is paperless, with significantly fewer documentation requirements.
How Can You Buy Health Insurance Plans Online?
After you have diligently done your research and shortlisted the insurance provider from whom you are going to buy the insurance policy, follow these general steps:
Step1: Visit the website or app of the insurance provider you have shortlisted.
Step 2: Go to the health or medical insurance section on the website or app of the best health insurance provider.
Step 3: In this section, you will get the application form where you will have to fill up your personal details, or you can get a chat option where you will have to provide the exact information to an insurance advisor.
Step 4: After you give the details and submit them, you will get the quote and various plans.
Step 5: Accept and select the plan of your choice and proceed to make a payment.
Step 6: Pay online through net banking, credit card, debit card or UPI mode.
Step 7: Receive the policy document via e-mail.
Buying health insurance plans online has become so easy and convenient that you can do it anywhere. First, however, please go through all the features of different plans and insurance companies. Then, understand the policy which suits your requirements best, and if you have to secure all your family members, do so with one best policy. This way, you will save on costs to insure every member separately. Most importantly, get insured with a heath plan to be constantly protected.