The first thing to be kept in mind before opting a health policy is to provide financial support during unforeseen health conditions. Nowadays, it is very important to have a health policy due to changes in lifestyle habits, which is paving way for new diseases apart from the existing diseases. If a patient gets admitted to a hospital, then he/she has to spend a huge sum because of high hospital charges.
In the coming years, you may need insurance worth Rs 15 lakh taking into account the inflation rate. People between the age group of 30-40 by now should have a policy worth Rs 10 lakh.
Things To Consider Before Taking A Health Policy
Health policy must definitely cover hospital room rent. Insurance companies will have a limit on the room rent to be paid and a few have no such limit. In fact, it all depends on the type of policy that you are opting.
Limits On Claim
In a few policies, an individual has to pay towards hospital charges from his pocket. According to the company rules, it ranges between 10-20 per cent. However, the exact percentage can be checked while opting the policy.
Type Of Treatment
A good policy helps one in getting the best aid without any problem in day to day treatment during hospitalisation.
Pick one that has a wide network of hospitals covered and also check if your preferred hospital is covered under the company’s list of hospitals.
Go through the terms and conditions column of the insurance policy. Also, check, if the regulations are according to your preference or not. For example, it is important to have a maternity cover in the policy for a newly married couple.
Submit all medical reports to the insurance company to avoid problems while going for a claim. Finally, it is advisable to go for a policy that covers 85-90 per cent of the hospital expenses.
An individual should not take health policy for the sake of the below-mentioned reasons.
1. To avoid tax.
2. Opting policy only because of the reason that the premium is less.
3. An individual should not take policy because his/her friend or relatives suggested him to take one.