Good health can assist you earn efficiently and guarantee you enjoy a quality life. A person with ill health, on the other hand, consumes most of his money on treatment and doctor visits. Thus, it is our duty to stay protected. Notwithstanding all the precautions, accidents and illness can’t be entirely avoided and thus one need to eventually prepare for such tragic incidents.
Safeguarding your health with insurance policy ensures you are prepared for all sorts of eventualities. With meticulous research and comparison, you can identify the best product that fits your requirements. Here are a few important pointers that you must keep in mind while looking for the right insurance cover.
Basic Hospitalization Cover
In case your budget is tight, and can’t afford a comprehensive health insurance cover, you can go for a basic health care plan, which pays for the costs incurred from any sorts of illness or accident.
Coverage And Premium
Expensive insurance policies are not always right. First review the Coverage of Critical Illness, OPD, Hospitalization Cash Benefit, and other such benefits, if the premiums are alike. You must then identify and assess the business needs you want.
Family Floater Policy
A family floater, health insurance policy, is better as compared to an individual policy. Every member can use the sum assured in a family floater policy; this can help you save premiums.
The sum assured can be defined based on the city you live and the size of your family. Health insurance is more expensive in the major cities more than in the small towns. Thus, you need to determine the sum accordingly.
Separate Policy For Parents
Premium amount in family floater policy is determined based on the age of the eldest member. Thus, you must keep an additional policy for parents and save on the premium.
Day Care Procedures
You must investigate the list of diseases covered under Day Care Procedures, before buying the insurance policies.
Policy buyers must go over the policy document rather carefully before signing it. You must ask for the particulars of the terms and conditions of the policy. The exclusion part is crucial, and you need to inquire about the situations and diseases not covered under the policy.
If your company offers you a health insurance policy and you are also looking for a policy of higher sum insured, you don’t need to buy a separate policy. You can easily top up your existing system with the required benefits and sum assured; this is a good way to save on the premium.