Compare health insurance plans in India
In order to trace out the best health insurance policy online you can compare health
insurance plans in India on the basis of various parameters. For an example, you
can compare health insurance plans in terms of the premiums to find out the most
affordable health plan available in India. To locate health plans with best coverage
you can also compare health insurance policies on the basis of the available sum
Benefits of comparing health insurance online
With the widespread internet usage all over India, now you can compare health insurance
online without having to pay visit to all brick and mortar outlets of health insurers
- If you opt for online health insurance quotes comparison. You can select the most
cost-effective insurer and save money in the process. By choosing to compare health
policy quotes online you can save time and effort.
- If you compare health insurance policies online and select one you can pay for reduced
premiums as there would be no agent with his share of commission that would otherwise
increase the premiums of health plans.
GIBL.IN not only offers free health insurance quotes to let you compare premiums
and detailed information about various health insurance policies but also provide
a number of value-added services such as free policy renewal reminder, online chat
support, online glossary and free insurance consultation. Buying a health insurance
policy is effortless when you resort to India's premiere online insurance marketplace,
How to choose the right health insurance plan?
Be well aware of your budget
Although, a comprehensive health insurance plan with a host of features is on your
wishlist, you should consider your budget for premium you have to pay. Again, you
need to choose features discreetly so that the plan remains comprehensive and the
premium remains affordable as well.
Understand your requirements
Proper understanding of what you actually seek from your health insurance policy
is of utmost importance. There is a myriad of health policies offering a plethora
of coverage, however, you need to ascertain what you need and find a health cover
that has everything you need in store. You should steer clear of expensive health
plans with features you hardly require.
Enhance coverage for Critical Illness
While picking the best health insurance policy, you should focus on enhancing coverage
for critical illnesses such as stroke, cancer as the cost of treatment of these
life-threatening ailments is very high.
Terms and conditions a must-read
Do not forget or skip this part of your health policy document even if you find
it boring. You should always go through the terms and conditions minutely to find
out the exclusions and to be well informed about the definitions of certain insurance
terms. After reading the fine prints of your policy you will have clear idea of
what's on offer and what's not.
How premium for your health insurance is determined?
The health insurance premium depends on many crucial factors. Here are some of the
most vital factors that influence the premiums of a health policy.
Age of the applicants
One of the most influential factors in determining health insurance premiums is
the age of the insured person. People with advanced age impose high risk to health
insurers in India. Hence, premiums for health policy are likely to be higher in
case of elderly people.
Pre-existing ailments of applicants
All applicants need to submit documents referring to their own health conditions.
Many people who apply for health policy already have some ailments or medical conditions.
A health insurer in India either rejects their application or charge high premiums.
Family medical history of applicants
If the family members of the applicant have history of certain ailments like heart
diseases the insurer will trigger higher premiums for that applicant.
BMI of applicants
Applicants with higher BMI usually pay higher premiums. Again, the reason is high
risk associated with the applicants as they are more prone to serious ailments like
cardiac problems, diabetes. Thus higher BMI trigger increased premium rates.
Habit of applicants
All health insurers in India charge higher premium for their health policies if
applicants have unhealthy habit like chewing tobacco or smoking. Since these applicants
are at high health risks they have to pay high premiums.
How to reduce the cost of health insurance premiums?
The premiums of health insurance covers depend on a lot of factors. If you take
those factors into account you can be able to reduce the health policy premium considerably.
Here are some steps to minimize the premiums of medical covers available in India.
Buy health insurance at a young age
If you buy health insurance online at an early age, you have to pay less as many
a health insurer rises the premiums of their health covers as the age of the applicant
increases. The reason being, with increasing age the health risk also increases
and with increased health risk increases the health policy premium.
Opt for a health cover with two-year tenure
Your health insurance premiums will definitely reduce if you opt for a policy with
two years of tenure. Some of the best health insurers in India like Apollo Munich,
Star Health offer two-year health covers. Apart from the reduction on premiums these
new health insurance plans also offer many other benefits.
Look for no claim bonuses on policy renewal
This is a good ploy to bring down health insurance renewal premiums. You are eligible
for NCB if you don't lodge any claim in a policy year and this NCB helps reduce
the premiums in the subsequent year. So, you need to ensure beforehand that your
insurer offers NCB on its health insurance policies. Apart from minimizing premiums
NCB can also be used to enhance the existing coverage of your health policy.
Opt for a health cover with co-payment option
By choosing to go for co-payment option you can also minimize the premiums of your
health insurance policy. At the time of a claim you need to pay the amount chosen
by you and your health insurer will pay the rest. Most health insurance companies
in India offer co-pay option in the range of 10-25%. If you are fit and healthy
you can surely go for it.
Enhance coverage with top up health insurance plans
If your existing mediclaim coverage does not fulfill your needs, purchase top up
health insurance plans that best fit your needs. Such a plan gets activated when
you have exhausted your basic coverage. It not only cuts premium amount, but also
ensures that you have sufficient health insurance coverage.
Manage sub-limits of your health cover well
If your chosen health policy comes with sub-limits on various aspects of coverage,
you can manage them wisely to reduce premiums. You can opt out sub-limits for critical
ailments as the cost of treatment for life-threatening diseases like cancer, heart-attack
is higher. Instead, you can opt for sub-limits for less severe medical issues knee
replacement, hernia operation. If you suffer from these ordinary ailments you can
pay from your own pocket once the expenses go past sub-limit. This can have your
premiums reduced significantly.
Compare health insurance premiums online
Instead of jumping at a particular health cover in haste, you should take time to
compare health insurance covers in terms of coverage and premiums. While comparing
health plans you can sort the cost-effective policies out from a myriad of health