If we see the majority of Indian families, then we can see that there is usually one or maximum two earning members and numerous dependent members. As a result of which when the dependent members fall sick, earning members go through tremendous financial hardship to arrange for the medical treatment expenses. With increasing instances of frequent illnesses and rising healthcare costs, earning members of a family are on the lookout for something to resort to that can cover their exorbitant medical expenses. This is where a family health insurance plan comes into role play as it covers most of the medical expenses and also offers a wide range of benefits. There is no shortage of health insurers in India, so finding out the best family health insurance in India remains a concern especially for those who are not properly aware of the terms and conditions of health insurance plans. If you want to buy family health insurance policies online you must pay heed to the following pointers.
- √Network Hospitals
The chief purpose behind investing in family health insurance in India is to avoid out-of-expenses in the time of hospitalization. All mediclaim insurance companies in India offer cashless treatments facilities to the policyholders in some of the selected hospitals in the network of the health insurer. When you select a family health insurance you need to ensure that your chosen insurer has some extensive network of hospitals so that you can easily find a hospital in your surrounding area and can avail cashless treatments at the earliest in time of emergency.
Sub-limit is a disadvantage of a mediclaim policy that you don’t want to see in your family health insurance online plan. Some medical insurance policies come with sub-limit on coverage of various expenses during hospitalization. Some policies cover room rent only up to 1% of the Sum Insured. Even if your coverage of Rs. 3 Lakh, your health plan will cover room rent only up to Rs. 3000. If you choose a room that costs Rs. 5000 for rent, your health policy will not cover the full rent, you have to pay from your own pocket in spite of paying premium for Rs. 3 Lakh coverage. Hence, you should always stay away from this type of disadvantageous features while buying family health insurance policies.
- √Waiting Period
All mediclaim policies in India come with a waiting period for pre-existing diseases. Pre-existing diseases refer to those diseases that the policyholders are suffering from at the time of buying medical insurance policy. Depending on the insurer, this waiting period varies and you should choose a policy with the shortest waiting period. Apart from waiting period for pre-existing ailments, some medical insurance policies in India also come with waiting period for treatment of specific treatments. For an example, many health insurance plans cover cataract operation after 2 years since the inception of the policy. Hence, you have to keep on eye while choosing your insurer for family health insurance in India.
The renewal option is not the same for all health insurance policies in India. Plans that come with lifetime renewability should be the one you buy. There are many benefits of opting for a family health insurance plan that you can renew throughout your life. Preferably, you should buy health insurance at an early stage of your life and continue with the same throughout your life. If you opt for a medical cover that expires once you reach a certain age, you will have difficulties in finding a mediclaim policy at an advanced age. Even if you find one, you will have to pay very high premium and there will be many exclusions, waiting period, co-pay, so on.
- √Performance of Health Insurance Company
All the medical insurance companies in terms of mediclaim policies are not equal on the basis of financial strength, customer service, and claim settlement. You should assess the current position of all health insurance companies in India in terms of their financial stability. You also need to check claim settlement ratio and time taken to settle claims and after-sell customer services of all health insurance companies in India to find out the best provider while buying family health insurance in India.
Now that you know what to look for in a family health insurance online plan, all you have to do compare health insurance quotes online on a portal like GIBL.IN. This portal facilitates easy and fast comparison of medical insurance plans in terms of all the aspects mentioned above. After all, you have to take care of your family, so you should not make any compromise and buy the best family health insurance in India from the user friendly website of GIBL.IN.
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