Health Insurance 292 views January 19, 2022

Given the prevailing annual inflation rate of 10-20% in the healthcare sector, your savings will exhaust in no time in the absence of health insurance. So, do buy a plan and check whether it meets your requirements or not. An ideal health plan has a wide range of network hospitals, basic coverage, shorter waiting period, etc. Read this page below and check out the list of health insurance questions and their answers.

List of Health Insurance Questions

Take a look at the below-listed factors that can help you decide on a good health insurance plan that helps you financially in testing times.

Compare the Coverages

Choose the plan that secures you against a wide range of medical expenses such as – pre and post-hospitalization, daycare, transportation from home to the hospital or vice versa, serious illnesses (cancer, heart attack or other diseases), etc.

Is it Affordable?

Check the amount charged for the health plan and if it fits in your pocket, get the policy asap. Because your income and existing obligations will have a huge bearing on your ability to pay premiums. So, check which plans offer the widest coverage for the premium you’re comfortable with.

Do You Need it for the Family or Yourself?

You can buy individual plans if you do not have a family. However, if you are buying health insurance for your family, choose a plan that offers coverage for a wide range of illnesses covering both children and senior citizens. In a family floater plan, you can cover your child and parents and save on their medical expenses by paying a single premium for the coverage of the whole family.

Is there a Lifetime Renewability?

When you buy a health plan, check the coverage period and for how long you can continue in a plan. Because if there is lifetime renewability, you can stick to your plan as long as you want by renewing it without any break. The renewal amount may get higher from your previous year’s payments as it is based on your age, sum insured and other factors.

What is the Number of Network Hospitals Accessible to You?

Check the number of hospitals that come under the health insurance company’s network. Because if the number is high, you can be assured of seamless cashless treatment anywhere in India. A network hospital allows you to get treatment there without paying for the same because it is the insurance company’s responsibility to pay for it as per the policy terms and conditions. And if there are one or two such expenses that are not on your coverage list, you need to pay for them on your own.

What is the Claim Settlement Ratio?

A claim settlement ratio is the number of claims settled by the insurance company in the past years. It indicates whether the company is reliable enough and capable to settle claims timely without any delay. So, check the same before choosing a health insurance plan.

Have You Used the Health Insurance Calculator?

Yes, some insurance companies provide access to an online health insurance calculator by which you can see how much you’ll be paying for the selected health insurance plan. For instance, we’ll learn how the IFFCO Tokio Health Insurance Calculator works in the steps given below:

Step 1. Select Your Plan and Enter Details – After entering your name and number, choose between individual and family health insurance plans. Now when your selection is done, enter the date of birth, gender, sum insured, your email address, etc.

Step 2. Get a Quote – Based on your seeded information, the calculator will provide you with an instant quote for your health plan. Check the coverage and include any add-ons if you want. After that, re-calculate the premium of your plan.

Step 3. KYC – Now, you’re all set on, so fill out the KYC form and tell about your medical history.

Step 4. Make premium payments – Finally, pay the premium amount, and receive your policy document in your mailbox.

People Also Read