9 Factors To Help You Find The Best Health Insurer

Selecting a good health insurer has never been easy. After the recent guidelines of IRDAI, many insurance companies have re-launched new policies with attractive coverages. The newly launched health insurance policies have higher entry age or lifelong renewability feature. Some insurance companies have introduced certain in-built features such as restoration of the sum insured or medical opinion feature to aid policyholders with benefits.

The medical expenses have reached new heights in India. Thus, it is considered that the best way to tackle the problem of the rising price is buying a comprehensive health insurance policy. With the variety of insurance companies solely devoted to offering adequate services, you may find it difficult to settle on a policy.

Following are the factors to help you find the best Health Insurer


Background of the Company

The terms of services offered may vary with different insurance companies. Thus, sound research is necessary while choosing an insurance policy. Make sure to consider the background of the company, their tenure in the insurance business, products they sell, types of insurance products they sell, claim settlement ratio of the company, premium and coverage offered by them.

Renewal Age

Most insurance companies offer policies with a renewal age limit of up to 70-80 years. Selecting the insurer with lifelong renewal option is an advantage as the possibility of falling sick in your old age is higher. This does not require an individual to renew health insurance in the middle. However, one can enjoy the policy benefits for a lifetime.

Type of Policy

Always make sure to pick the health cover as per your need from the insurer. Choose the insurer that offers sufficient coverage as per your budget and requirements. You can compare health insurance based on the offerings online and select the one that suits you the best.

Insurance Premium

You can opt for an insurer who offers health insurance plans at an affordable cost. No one would like to pay an extra premium for features that are of no use, but at the same time, no one would like to miss the features that you know are an essential part of the policy. Therefore, a health insurance policy within the affordable range with wide coverage ought to be the best. Find your premium using an online health insurance premium calculator.

Caps on Medical Treatment

Some insurance companies impose limits on specific medical treatments. After a certain pre-decided time called the waiting period,the insurer pays for the health-check-ups or treatment for pre-existing illnesses. Hence, it is wise to go for an insurance plan that has the least waiting period for specific illnesses.

List of Network Hospitals

Check the network hospitals of the insurance provider where you can avail cashless healthcare services. Incurred expenses are settled directly by the insurer to the hospital authority in case the hospital services are availed at a network hospital. An individual can avail the facilities free of cost. Make sure the list of network hospitals of the insurance companies includes your preferred hospitals that are in your locality.

Consider Pre and Post-Hospitalization Cover

The clause for covering pre and post hospitalization expenses may vary with the different insurance company. Some insurer may cover you for 30/90 days while some other insurer may cover for lesser days. Therefore, always focus on the one who comes with maximum days of coverage for pre and post hospitalization expenses.

You cannot avoid an unforeseen event but can stay well prepared. Buying good health insurance will keep you financially protected for the future.

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