How do I find the best health insurance coverage?

[Ena]

How do I find the best health insurance coverage?

[Kanchi]

Switch from any health insurance company to a general insurance company or vice versa

Any family floater or individual policy can be switched from/to.

Avail insurance cover by your new insurer up to the sum assured by the previous policy.

[Prayask]

It is encouraging to note you are considering to protect yourself and family with the best insurance products.
Health insurance is very critical product in your financial planning. There are over 90 plans available in the Indian market. Selecting the right plan is as important as your decision to getting insured. Best is what works for you. This is a time where you must be aware of the details of coverage you are reviewing. Some policies are very comprehensive, and for many, they need to carry a higher deductible to be able to make monthly payments.

[Siddhesh P]

Dear Ena,

Health insurance is a very critical product and selecting the right plan is as important.

You must be aware of the details of what is being covered under the various health insurance plans offered in the market and choose wisely based on your health needs. A few things you should bear in mind are:

• Your age, habits, lifestyle as well the dependents in your family who you may want to cover
• Check the co-pay, the exclusions, the waiting period for specified diseases and other T&Cs mentioned in the plan
• If needed, seek advice from an experienced insurance agent

It may appear to be an intricate product, but does come with many benefits which are offered by numerous insurance companies to choose from.

[Upkar Singh]

The best medical insurance policy in India depends on a number of factors. To choose the best health insurance policy, you should measure a health insurance policy on the following parameters:

The policy should provide extensive coverage suitable to your requirements.

The waiting period for pre-existing illnesses should be low to cover your existing illnesses at the earliest.

There should be no or minimal sub-limits on the coverage provided by the plan

The premium rates of the plan should be competitive and affordable

The plan should offer attractive discounts and benefits

The No Claim Bonus of the policy should be as high as possible which increases the Sum Assured when no claims are made in any year

The Incurred Claim Ratio of the company should be ideal so that the company charges a reasonable amount of premium and also settles your claims easily.