There’s a reason why people have internalised the saying “health is wealth”. If you are an earning member in the family, it’s important that you decide much in advance how you would like to invest your hard-earned money so that you don’t remain helpless during medical emergencies. Here are a few reasons why you need a health insurance policy - insurance coverage, customised plans, tax benefits, and of course, lots of variety to choose from! A practical way to approach this is to consider the benefits of remaining independent in how you’re able to cope with medical emergencies and this means understanding how a comprehensive health insurance policy delivers value to you in the long run.
There are a few things that will be taken into consideration by your insurer before you actually buy a healthy policy for yourself. First and foremost, is your age. It’s easy to get yourself a health insurance policy when you are in your 20s to 30s. The reason is obvious - you are less likely to fall ill in this age and even if you do, recovery isn’t difficult. Smoking status, pre-existing diseases, amount of sum insured, and profession are some of the other factors that affect your rate of premium. When you look for the right health investment option for you, make sure you run through the features of all the policies available in the market before selecting the right one. There are different plans that state which network hospitals are covered, how many are in your proximity, and the ease of access as well.
There are different types of health insurance plans available in the market. Some of the most popular ones are Individual Health Insurance Plans, Surgery and Critical Illness Policy, Pre-existing Disease Cover, Family Floater Mediclaim. The most common features of all these plans include pre and post hospitalisation cover and cashless treatment, health checks (yearly), and tax benefits.
Now that you have an overview of the kind of benefits that are packed into a health policy, let’s take a look at how to go about buying a health insurance policy online.
Here are a few steps that summarise the entire process for your ready reference-
- Decide who needs to get covered in your family as a part of your policy. It can be just you or your whole family. Depending on your needs and current situation, choose the number of people you would like to cover in your policy
- The next one is obviously choosing what kind of cover you need. As mentioned above, pick what suits you the best from individual cover, family cover, group cover, etc
- Go through the coverage features extensively, keeping in mind the kind of facilities you would like to avail if and when you are hospitalized due to unforeseen circumstances.
- Choose the right plan - after scrutinizing all the plans, pick the right plan from a variety of options like basic, comprehensive, and top-up plans
- Buy the policy. This is the stage where you have to share all your personal details like date of birth, current medical condition, history of illnesses if there are any genetic disorders, and so on.
After all of these are done, you have to pay your premium every year, without fail. Failure to pay on time can nullify the policy and you would lose the benefits. Buying online can make your life a bit easier by letting you research and buy at your own pace from the comfort of your home. Whether online or offline, one thing we hope to make clear - buying a health insurance policy is extremely beneficial as it becomes a support system for you to fall back on in any medical crisis.