Steps to Follow To Buy Health Insurance in India

1. Search. Compare. Buy Steps to Follow to Buy the Best Health Insurance in India

2. Step 1: Whom to Cover? • The first step towards buying a health insurance policy is to assess whom all you want to cover. So, decide if you want a policy for yourself or for your entire family. • To avoid any financial trouble due to huge medical bills, it’s advisable to cover all the members of your family.

3. Family Floater Health Insurance Individual health insurance Step 2: What Kind of Cover You Should Buy? • This insurance covers all the members of the family in one policy. • The sum insured can be used by all members as it does not have any individual cost limit. • This type of insurance covers all the members under one umbrella. • This type of health insurance policy covers each individual separately. • The premiums for this type of insurance has to be paid separately. • This type of plan covers an individual up to the limit of sum assured.

4. Step 3: Decide on the Coverage Amount • Gauge how much sum assured would be apt to take care of your present and future medical expenses. • Keep in mind the rising medical inflation rates and your lifestyle which can affect your sum assured. • The premium for your health insurance is determined on the basis of age and coverage amount. • So, opt for a coverage amount that would be sufficient to cover your medical conditions.

5. Step 4: Decide what plan you want

6. Basic Health Plan • A basic health plan covers pre and post hospitalization charges, ambulance charges, day-care procedures and more. • This type of plan often has a limit on room rent and co-pay and deductible. • Note: If the policyholder exceeds the room rent limit, he will have to bear the additional medical expenses from his own pocket.

7. Comprehensive Health Plan • This type of plan offers more coverage than the base plan. • Along with this plan, you can opt for additional covers such as accidental cover or critical illness cover. • These plans have comparatively high premium compared to basic health plans.

8. Top-up plans • A top-up plan is a type of health plan that supplements your existing health insurance plan. • It covers the expenses beyond the limit of the existing health cover. • This type of plan has a pre-decided deductible value that a policyholder is required to pay before making claims.

10. Benefit Plans A benefit plan is a type of health insurance plan that provides cover for specific critical illnesses such as cancer, heart attack, organ failure, etc.

11. Step 5: Know about the factors

13. Step 6: Stating the right facts • While buying a health insurance policy, ensure that you state all the right facts. Mention about your existing health conditions and your history of illnesses to the insurer, to prevent your claim from getting rejected, it’s imperative that you mention the correct details. • Recommended Read: How To Buy Health Insurance In 6 Easy Steps