Now days when people are facing health problems such as cancer, blood pressure, diabetes and heart diseases at an early age, it is essential for all of us buy a health plan to keep us financially secured at the time of any kind of medical emergencies, also the increasing cost of treatment makes health plan a necessity for people. Unfortunately most of the people in India had neglected their health and most of them m=never had a thought of buying a health plan until covid-19, the covid-19 disease have taught many of us the value of our health. But many of us have been scammed by the insurance provider or might get the wrong policy for ourselves, to avoid these mistakes here are the things that you should consider before buying a health plan.
1 Take affordable plan-
One of the most important thing that you should consider while taking a health plan is to make sure that it fits your budget well, the benefits of a health plan is the important thing, but keep in mind that more benefits or extra benefits also mean the increase of price in the plan, make sure you are able to pay the price of the plan that you are taking.
2 Choose a plan with easy and lifetime renewability-
The older you become, the high risk of you getting a health challenge or a problem will increase, so it is imperative for you to make sure that the plan you are buying is easily renewable because you will need health cover more in your old age.
3 Pre and post hospitalization coverage-
Many insurance policies does not cover pre hospitalization expenses such as ambulance cost, medical tests and many more, take a policy which not only covers your medical expenses during hospitalization but also covers pre and post hospitalization expenses.
4 Waiting period-
While buying a health plan you should consider and compare the waiting period given in your plan, for example many insurance companies have a waiting period of 24 to 48 months for pre-existing and specific illness such as thyroid, diabetes etc. You should take a plan with minimum waiting period to claim the benefits in case of any medical emergency.
5 No claim bonus-
No claim bonus or No claim discount refer to the bonus of discount given by the insurer to the policy holder for all the period of time they have not filed any claim. In other words it increases your coverage amount.
6 Claim procedure-
Read customer reviews of your health insurance provider, and choose the provider which has great review on claiming, also make sure that claim procedure is smooth and does not have so many formalities.
7 Risk coverage-
Risk coverage is a long term insurance plan which offers financial protection against high risk or unfortunate events such as chronic illness or death.