Finding the Right Health Insurance Fit for You?

Top Tips to Pick the Right Health Insurance:

Exploring and hunting down the right health insurance plan all by yourself can feel a bit hectic. However, with the right tips and guidance, you can make better and more informed choices. Here are some easy tricks that you may consider using to shortlist your right health insurance policy.

1. Do Not Compromise with the Coverage
   Consider choosing health insurance that offers coverage against a variety of health problems. You may consider benefits like ambulance charges, consultation and medical expenses, transportation costs, pre and post-hospitalisation charges, AYUSH coverage and so on.
   Pro tip: If you're looking for a family health insurance policy, make sure to check if the policy is tailored to meet the specific needs of your family members. Understand your requirements, read the plan document, its features, and coverage, and proceed accordingly.
2. Family Plans vs Individual Plans
   Next, try and understand who you want to buy the policy for. For instance, if you can afford it, or if you have certain illnesses in the family, you may consider choosing an individual plan so that each member has adequate coverage. Alternatively, family floater plans can offer quite some benefits for each family member, that too, with a single policy only making them affordable.
   Pro tip: Simply try and understand the age of your family members and their health requirements, and choose a plan accordingly that matches your budget and health needs.
3. Affordability Matters
   While having a health insurance plan can help you enjoy several benefits, it is important to choose a plan that is cost-effective and pocket-friendly to you. Consider choosing a health plan at a reasonable price with affordable premiums so you may pay them regularly without missing the deadlines. You can also enhance your cover with an increase in your income.
   Pro Tip: Make use of the health insurance premium calculator to get a fair estimate of the health insurance plan that you want to opt for.
4. Steady Coverage with Lifetime Renewability
   While choosing health insurance for yourself, make sure to check if the plan comes with a lifetime renewal or not. Why, you ask? Well, when you choose policies with lifetime renewability, you ensure continuous protection, especially at the later stages of your life when you need it the most.
   Pro tip: Don't forget to cross-check the quick renewal options and multi-year tenures and if there are any age restrictions or additional premiums for the same.
5. Do Not Ignore the Claim Settlement Ratio
   When choosing health insurance, you would obviously want it to help you when you need it the most. Now, one of the best ways to ensure the same is to look over the claim settlement ratio of the insuring company. A higher CSR speaks of the higher efficiency and reliability of the insurer, but it is not the ONLY thing that you need to consider.
   Pro tip: To better understand the company, check its claim settlement procedure, online reviews, and past records.
6. Lock-in the Right Insured Amount
   One of the crucial aspects of choosing the right plan is choosing the right insured amount. It is important as it directly impacts your coverage. Consider assessing factors like your medical history, average medical expenses, inflation, and more to come up with an insured amount that offers you adequate protection against medical emergencies.
   Pro tip: Opt for higher coverage as early in life as possible, even before you might actually need it. That saves you from getting limitations on your coverage later in life when you actually need it!
7. Cross-check the Network of Hospitals
   Once you have a few health insurance options sorted in your mind, consider checking their network of hospitals. Cross-check if they have your preferred doctors and hospitals. Consider picking insurance with a vast network of doctors and hospitals. This ensures you get quality, quick treatments anytime you need them.
   Pro tip: Check if your favourite hospital is listed as a part of the insurer’s network hospital for smooth claim settlement. Even with “cashless everywhere”, you might be able to avail of cashless facilities even in non-network hospitals, but the process is still far from being smooth!
8. Compare Quotes and Multiple Plans
   Once you've done your basic research, consider comparing different plans to pick the one that best suits your requirements. At Jio Insurance Broking, you can easily assess, compare, and get expert assistance when choosing from a variety of health insurance options. Our advisors can help you make an informed choice. You may compare factors like coverage, premiums, waiting periods, and so on.
9. Do not Ignore the Insuring Company's Reputation
   While choosing the right insurance for yourself, always try to look deep into the reputation of the insuring company. You may learn more about them and their efficiency via customer reviews, testimonials, ratings, and more. This will help you understand their customer service and claim settlement procedures, ensuring you choose the best and not fraudsters. R
10. Review the Waiting Period
    When choosing a health insurance plan, remember to check the waiting period for various treatments and diseases. Shorter waiting periods mean you can quickly access medical support when needed without much hassle.
    Pro tip: Check the waiting period, especially if you or any of your family members have any pre-existing conditions so that you know your coverage even before you actually need to file a claim!

Final Word

All in all, having a health insurance plan isn't just about protecting yourself against medical emergencies. It also helps you have peace of mind that you've done your best to secure your and your family's healthcare needs. Plus, with the right health insurance plan, you get a financial net to receive quality treatments with no compromise. Don't forget a bit of effort in your research means a healthy and stress-free tomorrow. Furthermore, you can also use a health insurance calculator to calculate the sum insured, premiums, and more to take your financial planning to another level.