From childhood, I keep hearing the quote, Health is wealth. It is true because if you don’t take care of your health. One may not help thier family and support emotionally when there is a need. Famous investor Rakesh Jhunjunwala rightly pointed out in his speech in the last times that biggest investment one should be doing is to invest and give time to your health.
One great thing about health policies is you can port from one policy to other policy like we port sim. It gives us flexible advantage as a policy holder to explore the industry best options and avail those services as and when you find a great benefits by any insurer.
If you think that I will get insurance when my health is deteriorating or about to deteriorate but premiums will shoot up for you when you don’t start early or when you apply for insurance policy after effecting by any disease. It is quite important for you to consider and take health insurance. Many Indian families are one medical bill away from becoming poor. Covid has proven enough how important to get health insurance.
Many people take health insurance via an agent but make sure that your agent is not taking more comission in your yearly premiums. Check the same policy in online and see what are the differences in the number of benefits and the premium amount. Every penny matters for a normal middle class family. So, choose the best among industry even though you are going through an agent.
Checklist before opting health insurance:
- Please take minimum cover of 5L-10L. There is no point in taking health insurance if you are selecting cover below 10 Lakhs.
- Choose the correct top-up plan apart from the base plan.
- Make sure that your insurer is offering a no-claim bonus upto reasonable enough amount or percentage
- If you are in mid 30’s or 40’s applying for health insurance, check the waiting periods of particular diseases. Huge waiting periods may not benefit you. You will end up paying again if something happens before waiting period completes for any particular disease.
- Clearly ask the insurer whether it will cover pre and post hospitalization expenses.
- After certain age, we end up taking health check-ups regularly, so check whether your insurer is covering or not.
- Many people do not know that they are holding a policy which has co-payment, so if something happens to you, insurer will only pay certain portion of your claim. Rest of the amount should be incurred by you. There are companies who bear 100% of the claim amoun. Make sure you pick those.
- Make sure your insurance company has cashless hospital list of good number whereever you are living and the hospitals that you wanna admit.
- Check if there is any cap on the room rent expenses that insurance company agrees to pay when you hospitalize.
- Check if they can pay for Ayervedha or Homeopathy type of treatment for diseases
