The quality of life has improved over the years due to technological advancements. This is clearly visible in most fields and the field of medical science is no different. These days, most of the advanced medical treatments are available in India. The only catch is that these treatments are expensive and can make a dent in your savings. Hence, to provide your family with the best medical care, you need the best health insurance.
You get plenty of benefits by purchasing a health insurance for your family. These are:
You will be able to give your family members the best treatment from reputed hospitals if you have a health insurance. Most of the insurance companies cover all medical expenses including hospitalization, surgery, medicines, etc.
You can avail tax benefits under section 80D of the Income Tax Act, 1961. This way you can get the best treatment without having to worry about tax deductions. The extent of benefits depends on the age of the person insured.
Most of the insurance companies offer a No Claim Bonus (NCB) by which you receive a discount on the premium for the following year if you didn’t make a claim in the previous insured year.
In case of a medical emergency, you need not borrow money or dig into your savings to pay for the medical expenses.
There is a plethora of insurance companies in the market offering tons of benefits with their respective health insurance policies. In such a scenario, it can be difficult to choose the best health insurance policy in India. The following checklist will come in handy while choosing a health insurance:
Most of the insurance companies offer a free health check-up for every insured member. This feature is not included in the insurance premium either. Select an insurance plan that offers free health check-ups.
Co-pay refers to a fixed percentage of the bill that you have to pay. The insurance company pays the rest. A few insurance companies charge a 10% co-pay on all claims and there are many other insurance companies that charge 0% co-pay. It is ideal to opt for an insurance from the latter.
A waiting period of 2-3 years is placed on the medical costs of pre-existing illnesses. The waiting period varies from one insurance company to another. Choose the one with a minimum waiting period.
Most insurance companies offer lifetime renewability on their insurance policies. This means that you can renew the same insurance in your sunset years as well.
Network hospitals refer to the total number of hospitals that are associated with the insurance company. Many insurance companies offer cashless transactions at the network hospitals. This way, you need not wait for long hours for the treatment to begin.
This is a vital factor while selecting the best health insurance in 2018. If an insurance company has a high claim to settlement ratio, you will be in good hands and the chances of your claim getting rejected are less.
These days, medical treatments for minor illnesses are completed within a day and do not require hospitalization for 24 hours. In such cases, some insurance companies do not cover the medical expenses incurred for day-care procedures.
Ensure that you read the terms and conditions of this clause thoroughly before purchasing the insurance.
It is normal to feel emotionally and financially stressed when one of your family members experience a medical emergency. A health insurance will help reduce the financial burden by covering the required medical expenses for the treatment.
There are many insurance companies in India these days and it can be a daunting task to choose the best health insurance plan for your family. To solve this concern and to choose a health insurance smartly, visit Coverfox.com and compare the health insurance policies by various companies side-by-side. This way, you can see all the features offered, cost of premium, benefits, etc. on a single screen. You can also purchase or renew your health insurance on the website.
Milton Ferrara is a professional blogger and writer with an experience of half a decade. Known for his amazing take on conventional matters and his boldness for writing new fresh content, he has a strong presence on the web.
Oct 19, 2019 Comments Off on How to choose the best personal loan:
Oct 06, 2019 Comments Off on Cryptocurrency Wallets: How Secure Are They?
Oct 05, 2019 Comments Off on Why Using Software Is Best For Bitcoin Investors
Oct 05, 2019 Comments Off on How to avoid common scams in cryptocurrency trading
Jul 03, 2019 Comments Off on Bitcoin Through A Legal Perspective and Fraudulence Point Of View
May 03, 2019 Comments Off on Can Forex Robots Provide Sustainable Income?
Feb 28, 2019 Comments Off on What Exactly Are Payday Loans Minneapolis Minnesota Like?
Feb 25, 2019 Comments Off on What To Negotiate When Buying Your First Home