Ways to Search the Right Health Insurance Plan


It is human tendency to ignore or avoid things unless the same is onto them. This holds good for a lot of aspects of life, none more than a health insurance. From the outset we feel that “I do not need a health insurance plan” and that is it only for the ones who are not fit and healthy. It is only when the onus of paying for medical expenses comes to a person that they realise the importance of a health insurance plan.

There are no second thoughts to the fact that a health insurance plan is important and this is because of a lot of reasons. But if you have already decided to buy a health insurance plan, here are some steps that will help you through the process.

  • Needs

It is crucial to know the needs of a health insurance to nail down the exact plan. For starters, individuals who are in their 20s or even 30s, policy with sum insurance of INR 4,00,000 to 5,00,000 might be just enough. However, you will feel the pinch if you include a senior citizen parent into the plan. Similarly, for parents who are too old, it is recommended to buy separate plan rather than including them into a family floater plan.

  • Compare

While all of the steps mentioned here are important, one cannot stress enough on comparing plans. When you compare health insurance plans, you get to see the difference in premiums that insurers offer. At the same time you get a glimpse of the features and benefits of choosing a plan. A comparison equips you with better data pointers to choose the right policy.

  • Network

It is almost a norm for insurers to support a list of network hospitals. Well, these are normal hospitals that have tie-ups with insurers. This facilitates better service and quicker turnaround times for insurance claims. Also, while you are in a network hospital you get to avail cashless services as well.

  • Insurer

Claim settlement is a very big deal when it comes to health insurance plans. Look for insurers who have higher claim settlement ratios. It simply indicates how many cases the insurer was able to settle versus the total number of cases filed. Apart from that, the ease of doing business with the insurer must also fetch some points during comparison.

  • Features

Some of the features that insurers offer make them worth investing your time and money in. One such example would be the restore facility. It is not uncommon for people to exhaust their sum insured after a medical procedure. A restore of the insurance will ensure that you can use the policy for further claims. However, most insurers do not allow restore for the treatment of the same disease again.

Should Buying Health Insurance Be Made Compulsory?

Though there are no hard and fast rules as of now, making a health insurance compulsory might not be a bad idea at all. There already are a few types of insurances that are mandated by the law. A motor vehicle insurance is a prime example of the same.

Most of the corporates and firms have taken up the responsibility to provide health insurance for their employees, which is a great starting place. However, the sum insured on offer for such policies might not be sufficient.

Even if there are no laws mandating the purchase of a health insurance, one must not shy away from it. The number of benefits that you get out of a health insurance plan far outweighs the premium. If you seek financial freedom from medical expenses, a health insurance plan can help you achieve the same.

Buy Your Health Insurance Now

In today’s day and age it is relatively easier to buy a health insurance plan as compared to a few years back. Almost all the insurers have put in efforts to ensure that they have sufficient digital footprint. What this means for a potential policy buyer, is that they can buy a health insurance from the comfort of their homes.

Insurers these days even waive off medical checks up to a certain age limit. If you do not already have a health insurance, it is high time you buy one. Even though a workplace sponsored health insurance is good to have benefit, it might just not be enough. It is recommended to have a separate health insurance to cover for additional expenses, apart from the group floater policy.