In today’s fast-paced world, everyone is caught up in their work and is neglecting their health. Poor lifestyles, unhealthy eating habits, smoking, alcohol consumption, and irregular sleep schedules are among the leading causes of deteriorating health.
With a significant increase in health conditions, it’s essential to prioritise your and your family’s safety. Are you wondering how? You can do so by purchasing the medical insurance policy.
This article will discuss the fundamentals of thebest health insurance India and the criteria for choosing the right plan.
Understanding the Medical Insurance Plans
Medical insurance is a contract between you and your insurer. It serves as a backup plan that can help you manage unforeseen medical emergencies, including illness or accidents. A medical insurance policyprotects you from high medical costs, including pre- and post-hospitalisation expenses, daycare treatments, diagnostic tests, prescribed medications, and other necessary expenses.
Insurers offer the following types of health insurance policies to cater to your needs and requirements. Let’s explore these different options.
- Individual Health Insurance Plan: This is the most common and basic insurance plan that covers a single person in the event of a medical emergency. For instance, if you have purchased two individual insurance plans for yourself and your spouse, you will need to pay the premiums separately, which can be expensive.
- Family Health Insurance Plan: If you live in a nuclear or joint family and want to protect your loved ones from the financial strain of high medical costs, you should consider purchasing the best medical insurance policy for family. These insurance plans cover the entire family, including your parents, spouse, and children, under a single policy. The primary advantage of the best medical insurance policy for family is that you only have to pay the premium once for all family members, who can then use the sum insured.
- Senior Citizen’s Health Insurance Plan: These insurance plans are specially designed to cater to the needs and requirements of senior citizens. They often offer additional coverage, such as preventive care and domiciliary hospitalisation, in addition to basic medical expense coverage.
- Critical Illness Insurance Plans: These critical Illness Insurance cover life-threatening health conditions such as kidney failure, cardiac arrest, cancer, and many more. Bearing the costs of such treatment alone can be daunting. Therefore, if you are diagnosed with such illnesses, investing in a critical illness insurance plan is advisable.
What are the Criteria for Choosing the Appropriate Insurance Plan for Lifestyle Diseases?
With numerous insurance policies available in the market, choosing the one that best meets your needs can be challenging. Therefore, listed below are the factors that can help you make an informed decision.
- Premiums: A premium is an amount you pay in monthly, quarterly, or annual instalments, to your insurance company in exchange for the insurance policies. Premiums vary depending on the insurer. Some insurers charge high premiums for low coverage, while others charge high premiums for high coverage. You must conduct research before choosing an insurance policy.
- Coverage: Coverage levels differ depending on the insurer and the type of plan. Ensure your medical insurance plans provide comprehensive coverage, including pre- and post-hospitalisation expenses, cashless treatment, critical illness coverage, and more. Additionally, reviewing the coverage levels is essential for understanding the inclusions and exclusions of the policy.
- Network Hospitals: Lifestyle diseases often require consultations with specialists. Ensure your insurance provider gives you access to high-quality healthcare at well-known hospitals with experienced doctors and specialists. Using in-network hospitals and medical facilities reduces out-of-pocket costs and financial burdens.
- Claim Settlement Ratio: The Claim Settlement Ratio (CSR) is a measure that reflects the financial position of the insurance company by indicating the number of successful claims made in the given financial year. A high CSR demonstrates that the insurance company has a reliable history of resolving claims, which gives you confidence in the insurer’s credibility and trustworthiness.
- Additional Benefits: Look for the best health insurance India that offers additional benefits, including wellness programmes such as fitness consultations and discounts for healthy living.
- Preventive Care: The best health insurance India covers preventive services that can help you avoid the onset of lifestyle diseases. Preventive care, such as regular health check-ups, screenings, and vaccinations, helps in the early detection of diseases. It enhances the policy and supports your overall health.
Wrapping Up
Evaluating medical insurance plans for lifestyle diseases is a vital process that requires careful consideration. By focusing on coverage for preventive care, comprehensive treatment options, networks, and cost analysis, you can make an informed decision that aligns with your health needs. Insurance is a small investment you can make to save yourself from future medical costs.
If you’re looking for a reliable insurance provider and are confused about which one to consider, then look no further than Niva Bupa. It is a well-established insurance provider in the market with more than 10,000 network hospitals and over 1 crore satisfied customers. Niva Bupa offers extensive coverage that can help you manage your expenses.
Choose Niva Bupa and enjoy a stress-free and healthy journey.
