You probably didn’t need a reason to have a Mediclaim policy. A significant part of the Indian and world population is falling prey to various critical health conditions, and so, treating them has become increasingly expensive. This is where the help of a reliable medical insurance pitch in. Given that there are so many types of health care insurances, you can be in a dilemma about choosing one. Your confusion might begin with whether to choose for individual medical insurance or a family plan.
See which cover fits you
When you are convinced and prepared to get enrolled in a health insurance plan, it is time to compare some insurance companies, as well as compare different types of policies to suit your needs. Initially, you might find it a bit confusing to choose between Individual health insurance plans and Family Floater, or FF plans. Though there is no formula to select only one company that suits you perfectly, yet there are certain things that you would want to consider. As the experts in the field would put it, if you are looking for extensive coverage, then it makes sense to go for an individual plan. It would also guarantee that any adverse effect that you have from one policy would not negatively affect the other members of your family.
Which Means What
Within the ambit of Individual medical plans, the policy can be hard for you or your spouse or for your parents, children, and the like. In this case, the premium is going to be calculated on the basis of the insured’s age and the sum insured. You can even avail of some discounts, conditionally. The conditions, however, might vary from one insurance company to the other. In the case of a Family Floater health plan, you can cover more than one member of your family under the same plan.
Important Features
While looking for a health insurance provider, look for a company that offers some insurance as per your need. Ideally, it can be anything from 3-50 lakhs. There ought to be some reserve benefits, such as coverage of OPD benefits that carry forward the balance to the next policy with some increment and continuation cover. There are many individual health insurance plans that offer remarkable benefits. Some offer a considerable percentage of no-claim benefit, pre and post hospitalization coverage for at least 60 days, reimbursement for all type of daycare procedures, costs of organ donor, emergency care across the length and breadth of the globe, complimentary health checkups, minimal or no extra loading at renewal owing to claims, critical advantage riders, etc.
Who Would Ideally Go For Individual Health Insurance?
Apart from single beneficiaries who do not have dependents, this type of health insurance is particularly beneficial for those who have a vulnerable health condition. Also, there are some more perks of having an individual plan to a FF plan. For example, it is going to be more helpful for the families who might need medical care for two or more members in a year. The sum insured for family floater might be insufficient then. Again, in an FF policy, there is going to be a ceiling age limit for enrolment. As for example, dependent wards are generally covered up to 21-25 years of age. On the other hand, an individual plan can be renewed lifelong. There is a popular plan named Family Floater plan which will calculate your premium based on the eldest insurer’s age of your family. In case of an individual health plan, it would depend on the insurer’s age only. Visit our site to choose the right health insurance for you and your family.
Some tips on saving money on your policy
A few tips to keep the policy premium amount at the lowest, and get the best out of the health plan.
Shop Around
According to professionals from general.futuregenerali.in, when it comes to healthcare plans, you must do your research and compare the policies, before settling for one. Study the coverage features and benefits, additional riders, premium amount, individual and floater plans, limits, and sub-limits, and pick the policy that is suited for your needs.
Hospital Tie-Ups
Get treated at one of the hospitals that have a tie-up with the insurance company. Doing so will help you make cashless claims where the medical bills get settled directly with the health insurance company. You may even get additional facilities, such as pick-and-drop services, 24×7 assistance, and nurse-on-call.
Choose an Affordable Caregiver
You should compare treatment cost for a specific condition across hospitals and clinics, and settle for one that is most affordable. However, make sure the caregiver is reputable. You must not compromise on your care because of the expense. Always recheck the medical bills for any discrepancies s and reconfirm about the given medical tests.
If a recognized hospital is able to offer services at a lower cost than its competitor, then you should choose the former. This way, you will reduce the claim amount, and perhaps earn discounts during policy’s renewal due to being less of liability to the insurance-provider.
Do Not Miss the Payments
To avoid suspension of your medical insurance policy, you have to pay the premium at the right time. A grace period of 90 days is usually provided to clear the dues, after which the company will end the coverage. Lapse of policy means withdrawal of its benefits, and any healthcare expense henceforth will have to come from your own pockets.
Go for a Higher Deductible
If you are relatively healthy and think you will not require frequent doctor visits in a year, then you can opt for a higher deductible and a lower premium, which saves a lot of money.
Follow a Healthy Lifestyle
If you take care of your health, you will be less prone to diseases and ailments. Go for timely check-ups, take necessary medications, and follow the guidelines of your doctor. By following a healthy lifestyle you keep away health conditions that could inflict in the future like coronary heart diseases, diabetes, hypertension, etc, and the possibility or urgent medical attention.
