Health insurance helps ameliorate the blow of healthcare expenses. Healthcare can be an expensive affair, and buying yourself a health insurance policy can help you take care of these expenses better. When you purchase health insurance, you pay a premium every month and your health insurance service provider covers a portion of your medical bills. The insurer may even be able to get you better deals from hospitals and medical professionals. Basically, you end up paying a lot less with a health insurance policy in place than you would without it if you were to pay for the medical costs all by yourself.
How to land yourself a profitable health insurance policy?
Below we share a handful of secrets as to how you can find yourself a health insurance coverthat works for you –
- Figure out the kind of health insurance plan you need – Health insurance policies come in two variants – indemnity plans and defined variant plans. The former is used to pay for hospital expenses while the latter will pay you a sum during a medical emergency which you can spend as you see fit. Health insurance plans can also be for families and individuals. If you have a family to take care of, a family health insurance plan is the way to go. If not, you should go for the individual health plan.
- Figure out the insurance coverage amount best suited for you – An insurance service provider should be able to determine the amount of health insurance cover which will be right for you and your family. If you are investing in a Family Floater insurance plan and happen to have elderly and ailing members in your family, you will need more coverage than another individual with a young household.
- Don’t get wooed by fancy marketing – Health insurance policy providers are a big business now. Cutting edge marketing strategies are employed to coax customers to purchase specific health insurance plans. Don’t get swayed by all the frills. Look instead for basic coverage policies that take care of room rent, OPD charges, ambulance costs, organ donation expenses, and so on.
Lastly, don’t forget to verify your insurance service provider’s claim settlement ratio!
An insurance service provider is responsible for settling your insurance claims. A claim settlement ratio is simply the ratio of claims settled by this insurance provider against the ratio of claims raised. You’d want to pick an insurance service provider who has a high claim settlement ratio. A high claims settlement ratio means that they are devoted to looking after your insurance claims as promised. Also, try to choose a health insurance policy provider who settles your insurance claims cashless. You won’t have to go through the headache of keeping tabs on the high initial expenses this way.
Tip:Secure you & your family with a perfect health insurance policy with a reliable insurance company like Bharti AXA