While there is a rise in inflation almost every passing year, there are a few sectors that get direly affected by this. The medical and healthcare sector, i.e., clinics, hospitals, dispensaries, etc., have been known to have one of the most significant impacts of inflation in the country.
To put it simply, the costs of medical care, treatments, procedures, and various other healthcare-related requirements is already high, and it keeps increasing with the rising inflation as well. If you want to ensure that you get access to the best and affordable treatment and healthcare when you and your family are in need, then buying a health insurance policy would be your ideal choice.
Choose the best health insurance policy by following these few steps and ensure that you and your loved ones are covered:
- Know Your Requirements
There are many types of insurance plans you can buy with a health cover. You can go for an individual health cover or opt for a family floater policy as well. It is crucial to know your family background and the needs of various family members before buying a plan. If you are purchasing a health plan, then an ideal scenario would be to cover your kids, dependent parents, and spouse and opt for a coverage amount and inclusions accordingly.
- Discuss Plan Coverage with Your Family
Ultimately, the coverage amount offered by a max health insurance policy will cater to you and your family’s healthcare and medical needs. Hence, it is essential to know how much coverage is needed and what type of cover would be ideal. If you are going for a family plan, knowing your family’s medical history would be helpful.
For example, if you or any of your family members have been diagnosed with a critical illness, then buying a cover that would offer treatment towards that would be ideal. Similarly, suppose you are covering dependent parents in your plan. In that case, ensuring that you have a critical illness cover could be helpful as they would be financially protected post-retirement. You can get them the best treatment possible whenever the need arises.
- Research Health Insurance Plans Online
Nowadays, it has become relatively simple to research insurance plans online because insurance providers make it a point to keep their websites and mobile applications updated. You can easily browse on the internet and visit top insurance providers websites to know about the health insurance plans they offer in detail. You can also find out the benefits each plan offers and the kind of coverage you can enjoy for the premium amount you pay using their premium calculators.
- Compare Plans and Their Benefits
You can now find many health insurances plans available in present times, and knowing what type of a policy and what kind of coverage you need is crucial. For example, there are many types of COVID-19 insurance plans like the Corona Kavach that offer pre and post hospitalisation cover and reimbursement to a certain extent as well. If you are looking for a specific cover like this, it is better to go for an exclusive COVID-19 cover instead of buying a holistic health plan and getting an add-on rider.
- Look For a Cashless Treatment Option
If you have this benefit in your max health insurance policy, then that means that your hospital (if it is in the list of cashless hospital of your insurance provider) will be paid directly by your insurance provider. This ensures that you do not need to face the hassle of arranging money for the hefty hospital bills. Moreover, you do not need to pay from your pocket, file a claim and wait for your reimbursement. Cashless treatments are one of the most convenient benefits offered by max health insurance plans.
- Understand the Tax Benefits
There are various categories under section 80D of the Income Tax Act, which allow you to avail of tax deductions based on the premium you pay towards your health insurance policy. From paying premiums towards your health policy to paying for dependent parents and from paying individual premiums to buying a family coverage, there are various categories under which you can avail premium exemption up to a certain amount every year.
Read Your Policy Thoroughly Before Making The Purchase
Before finalising a health insurance policy, make sure you know the relevant details about the comprehensive coverage, exclusions and inclusions. Checking the health plan benefits, facilities, claim settlement ratio of the insurance provider can ensure that you do not face any unwanted surprises later. Health insurance plans are a great way of mitigating financial burdens when you or your family need health or medicare. Comprehensive coverage plans will always ensure that you stay worry-free. Reading the document and knowing exactly how these benefits work and what is expected from you as a policyholder is vital before finally purchasing one.
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