Health insurance has become a necessity rather than just an option. With medical costs rising fast and unexpected health issues becoming common, having a good health insurance policy is essential.
But choosing the right plan from the many options available can be confusing.
Here are 6 key things to consider when selecting the best health insurance policy for you and your family:
1. Choose a Plan Based on Your Needs
If you only need insurance for yourself, go for an individual health policy. But if you want to cover your entire family under one policy, a family floater plan is a better choice.
2. Always Compare Insurance Providers
Premiums, coverage, and features differ from one insurer to another. So, before finalizing any plan, compare at least 3–4 options.
This will help you find a plan that offers the best value for your money.
3. Check the Claim Settlement Ratio
This ratio tells you how many claims an insurer has successfully paid out. A higher ratio means the company is more trustworthy. Ideally, pick an insurer with a claim settlement ratio of 95% or above.
4. Coverage Should Include More Than Hospitalization
A good policy should not be limited to hospital expenses. Look for plans that also cover OPD visits, medicines, home care, and tele-consultation.
A wide coverage ensures better financial support.
5. Understand What Isn’t Covered
All policies exclude certain treatments or conditions. Carefully read the list of exclusions before buying a plan to avoid surprises when you file a claim.
6. Pre and Post-Hospitalization Coverage Matters
Go for a policy that also pays for medical costs before hospital admission and after discharge.
Ideally, look for at least 60–90 days of pre-hospitalization and 120–180 days of post-hospitalization cover.
Keeping these points in mind will help you pick a health insurance plan that offers the best protection and peace of mind.
