What is health insurance policy ? and how to choose best health insurance.

15 May 2021 1:40:PM

Health-insurance-by-geplinsurance Health-insurance-by-geplinsurance

It's 2021 and we all are aware of the current scenario. Health issues and other health-related things are unpredictable. You can not secure someone's life totally. But you can cover health issue expenses with the best health insurance policy

Understanding a health insurance policy:

Buying the best health insurance is a difficult task for any individual, with so many different companies selling a host of policies with different words bundled in it. The best health policy will be one that gives you real peace of mind in case of any hospitalizations. You need to ensure that the health policy has many cashless hospitals on their list especially close to where you stay, as this will ensure that your bills will be paid directly in the hour of crisis.

How many sums Insured in health insurance do I need?

Just like inflation, medicals cost is also rising but at a faster pace. Depending on the hospitals in your area, will get a fair idea as to how much sum assured you need to take. If it’s a high-end hospital charge will be much more. You can get an idea by finding out what will be the charges in a single private room. Depending on this you could choose your sum insured You need the maximum sum insured amount possible looking into your budget. Some companies offer an increase in sum insured at renewal time in case of no claim, while some offer no claim bonus.  Sum Insured chosen by you along with bonus will be the maximum amount the insurance company will pay as per the policy.

Health insurance plans for the family:

If you are taking a health insurance policy for your family it will be better to take a family floater. By doing so the full family will be covered in a single policy and anyone could use any amount of the sum insured in case of hospitalization. A premium of a health insurance family floater will depend on the ages of each one. The higher the age the cost increases. A family health floater will be more economical compared to individual policies. If parents who are 60 to 70 years old are to be ensured it will be better to opt for a separate policy. To mention there is a red carpet policy of Star health which give policies up to 25 lakhs without medical test, however, there is a co-pay for all claims.

Features of a health insurance policy:

A health insurance policy will take care of your hospitalization cost up to the chosen sum insured. This included doctors, nurses, diagnostics, medicines, operation costs. Covid hospitalization is also covered. Other features like pre and post-hospitalization expenses of 30 and 60 days respectively are also covered. Daycare procedures which require just a few hours in a hospital-like cataract are also payable.

How to select the best health insurance policy in India:  

Choosing the best insurance policy will be a difficult task as there are many different features you need to look into. You could talk to our customer care at Gepl insurance broking for more clarity or you could search the net and look at the different sum insured suited to you along with the different features offered by a host of insurance companies. It would be advisable to take a sum insured around 15 times your monthly income if it is in your budget or you could increase or decrease the sum insured. You will need to look into the exclusions list as also the pre-existing disease clauses as this could be a sticky issue later on. It is important to note that some certain ailments require a waiting period of 2 to 4 years depending on the insurance company. With today's changing lifestyle it will be a good decision to buy specific critical care policies which will give a lump sum in diseases like cancer, kidney failure organ transplant, and other major diseases. Always choose a company of repute that has a good claim settlement ratio as the main aim of taking the policy will be defeated. Mention a few companies you could look at are Bajaj Allianz General, HDFC Ergo, SBI General, Star Health, and a few others.

 Health insurance policies you can buy and why:

Product Sum Assured Age Product Premium    Comments

SBI Arogya Plus

1 to 3 Lac Up to age 55 Rs.8900

Premium will not change with age. Parents plus 2 children can be covered in the same premium

Star Comprehensive     5 to 1 cr   Up to age 65   as per age Pre policy check-up not required*
Tata Medicare Premium  5 to 50 lac  Up to age 65   as per age   Tele medicals Required*

If you are interested in anyone of these policies then you must click here and get yours with a few clicks. Remember health is wealth so get your wealth covered now. to explore other stock market opportunities click here.

*Subject to health conditions

Terms & conditions apply


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