5 Tips for Choosing the Best Medical Insurance for your Family

sidharth kapoor By sidharth kapoor, 20th Jun 2018 | Follow this author | RSS Feed | Short URL http://nut.bz/3mlni9p3/
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There is no saying when illness will strike and with our present lifestyle, this can happen very often. It is absolutely essential to choose the right insurance plan with the right amount of coverage. Some make the mistake of being under- insured and then the time comes the coverage amount is not enough to cover all the expenses.

5 Tips for Choosing the Best Medical Insurance for your Family

There is no saying when illness will strike and with our present lifestyle, this can happen very often. It is absolutely essential to choose the right insurance plan with the right amount of coverage. Some make the mistake of being under- insured and then the time comes the coverage amount is not enough to cover all the expenses. One must also check one’s medical insurance coverage before choosing a plan and the coverage would be dependent on certain factors like one’s age, medical history, whether there are pre- identified diseases and so on. Here are some ways that can help you pick the right medical insurance plan.

Health insurance basic coverage:
In terms of medical insurance, the term coverage refers to the extent or to the Sum Insured that is given to the policy holder by an insurance company. Every policy differs from each other and so will their cover limit. To what extent a policy would cover an individual is usually stated in the company’s policy document, along with all the details like how much premium would the policy holder have to pay to enjoy that coverage. Be sure to read the policy document carefully before putting the final signature and be sure to clear any queries so as to prevent any confusion while making a claim. This will also ensure that you have gained the most out of your coverage.

There are certain basic medical occurrences and so a policy must be sure to cover areas like In- Patient Hospitalization, Maternity Cover, Critical Illness Cover, Ayurvedic Treatment Cover, Health Check Up among others. Some policies with more coverage also cover OPD checkups and subsequent follow ups, purchase of medication and the like.

Most of us first tend to look at the premium amount while buying a premium and decide whether we will be able to pay that amount or not. However, what we should be instead looking at is the number of inclusions and the benefits that one would get with the medical insurance plan. Some policies have a waiting period for pre- existing diseases and are one of the most crucial factors when it comes to buying a policy. The waiting period is the time for which the patient would have to wait before the policy starts paying for the pre- existing disease and hence since one will not be covered till the duration gets over, checking the waiting period is a must.

It has been seen in some cases that health insurance companies are also denying coverage and this is mostly in cases of illnesses like cancer or HIV. Some policy, on the other hand, try to give additional benefits to their customers by giving them offers like, discounts for buying insurance on individual sum insured basis, for multiple family members. There are also policies meant exclusively for women, children or senior citizens. Try to opt for the best medical insurance that has 24*7 support because one never knows when they would need to be contacted in the case of an emergency and it is also better to make sure that the insurance company works with a wide range of network hospitals or else if you are admitted in an hospital outside this network, then you will not be covered. There are also some policies that can be bought online and renewed online as well and this provides a very hassle free experience.

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Medical Insurance For Your Family, Medical Insurance Plan

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author avatar sidharth kapoor
Sidharth Kapoor is a well-known financial insurance advisor with the abilities to keep a track and predict the market trends with the utmost accuracy.He has worked on different financial sectors deali

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