If you think you do not need health insurance plans, think again!
There are a lot of valid reasons to why to buy health insurance plans for you and your family.
Let us share with you some of the most important ones :
A health insurance plan is an important part of your financial planning for a safe, secure and healthy life for you and your family.
Health Plans come with a lot of benefits that cover all your medical needs as well as emergencies:
There are different types of health insurance plans that come for individual health requirements and lifestyle needs.
You can select from:
While a health insurance plan is a shield for all your healthcare needs, it also comes with its own restrictions. Some covers are included and there are some which are excluded by the insurance companies providing health insurance in India.
Let us take a look at the inclusions and exclusions of health care insurance:
A basic health insurance policy usually covers the following :
*Please note that these covers usually come with the additional riders that come at an extra premium.
Various factors can make your premium on health insurance go high or low. Before you buy the best health insurance, you must know and understand those factors.
The factors that affect your premium towards health insurance are :
Now that you have understood the importance of having a health insurance policy, the next step is to know how to buy the best health insurance plan.
Here, we list out important things you must consider if you wish to buy the most effective health insurance plan for yourself or even if you are buying health plans for the family:
Many non-reputed and reputed insurance companies in India offer health insurance policies based on the individual needs of the people. Not every health plan is the same in terms of benefits and payouts. Therefore, it is very important to compare health insurance plans to get the best as per your specific needs and medical conditions.
When you are comparing health plans on Cover360, you must keep the following in mind to get the best benefits from the medical policy :
It is most important to understand how to claim health insurance even before you buy the policy.
There are different claim processes based on the type of claim you are making with your health insurance provider.
Remember, if your documentation is in order and you have taken care of all the requirements, no insurance company can deny or reject your health insurance claims.
What is Health Insurance Portability?
You may need to shift your health insurance from your existing insurance provider to another. For such cases, Insurance Regulatory and Development Authority of India (IRDAI) launched the concept of Health Insurance Portability in 2011. Through this facility, you can easily port (shift) your medical insurance without losing any existing credit points, waiting period and benefits like no-claims bonus and free medical check-ups. With portability, you may also enjoy some added benefits.
Why do you need health insurance portability?
There could be various reasons that you need to shift your medical from one insurance provider to another. The primary ones are :
You as an insured hold every right to have your medical insurance shifted to another insurer if you have been maintain all the documents and following all the terms and conditions stipulated by your current insurer.
Process of Applying for Medical Insurance Portability
You can only apply for portability when your existing policy is due for renewal. You can submit a written application to new insurance provider. This must be done at least 45 days before expiry of existing medical plan.
What are the benefits of Medical Insurance Portability?
Insurance Company’s Rights in the Matter of Health Insurance Portability
If you fail to apply for portability 45 days before the renewal date of your existing policy, the insurance company holds the right to make a decision whether to accept your portability request or not. Every application for portability is considered new by the insurance company and goes under a tight scrutiny before being finalized. The insurance provider will examine the risk involved in changing the premium amount and offering other benefits. If there are any risks posed during this examination, the company can reject your portability application. You may continue with existing policy in that case. Also, portability is easy in early age. As you grow older, insurance providers hesitate to approve portability as the health hazards are greater.
Please note that terms and conditions of every insurance company offering health insurance in India are different. It is important to read carefully before applying for health insurance portability.
Here is a list of some reputed health insurers in India. The list is no particular order.
There are so many options to choose from when it comes to buying the best health insurance plan in India. The factors to be considered while making the comparisons are offered insurance coverage, features, rider benefits and premium payout. Ideally, the best health insurance policy that you can buy should be offering maximum benefits in a reasonable and affordable premium. Hence, the cheapest health plans are not always the best ones; please remember that. Make comparisons, read about the benefits offered, go through the terms and conditions and make sure you reach the right plan for yours and your family’s health needs.
Here are some of the top trending health insurance plans in India :
For Variant 1 -
Rs. 1 Lakh, Rs. 2 Lakh, Rs. 3 Lakh, Rs. 4 Lakh, Rs. 5 Lakh and Rs. 10 Lakhs
For Variant 2 - Rs. 5 Lakh Rs. 7.5 Lakh, Rs. 10 Lakh and Rs. 12.5 Lakh.
For Variant 3 - 15 Lakh, Rs. 20 Lakh, Rs. 30 Lakh, Rs. 50 Lakh and Rs. 1 Crore
Cover 360 is here with absolute commitment to your health insurance needs. We guide you, assist you and take you through the journey right from selecting the best health insurance plan up to the final stage of filing your claims. We strive to make the buying and documentation processes easier for you.
At this equipped and comprehensive insurance platform, you can make all possible comparisons related to features, premiums, the best sum insured and claim settlement ratios for all the best health insurance plans in India.
Here is how we help you buy the best-suited medical policy:
Buying, executing and comparing the best of health insurance was never that easy. With Cover 360 you do not have to worry about anything. We give you poora support! We are here to hold your hand at every step.