Medical insurance policies are for times when you need financial support the most. The medical situation of an individual as well as your loved one, uncertain medical procedures, and unstable health progress, all are enough to shake off your nerves. You definitely would not need another document and insurance claim hassle to aggravate the situation.
That’s where the best medical insurance policy in India can help you. It can save you from last-minute hocus pocus and can make sure you get the most out of your invested money. Here is your quick guide about the best medical insurance policy in India.
Why Do You Need The Best Medical Insurance Policy In India?
Due to the occasional emergence of fraud or poor operation of the medical insurance sector, people often feel agitated while buying the one. But, by knowing its handful of benefits, one can make sure they make this wise decision of buying the best medical insurance policy in India. Some of its benefits are-
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Money Support In Times Of Inflation Of Health Sector
When medical expenses such as diagnostic tests, hospitalization charges, room rents, surgical procedures get expensive, medical inflation happens. This generally pushes people to arrange more money to get adequate medical attention. But, with the right medical insurance at a place, one can leverage its benefits and support even in times of medical inflation period.
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No Worries In Critical Illness Or Prolonged Medical Treatments
Even in times of chronic illness or prolonged medical treatments, your best medical insurance policy in India can support you.
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Associated Benefits
Along with some direct benefits such as covering hospitalization charges, medical insurance policies also provide some added benefits. These can be no claim bonus, value-added services, daycare treatment coverage, etc.
How To Get the Best Medical Insurance Policy In India?
From a pool of available options for getting a medical insurance policy, it is very easy to get overwhelmed by options and amenities. In addition, the wide range of providers often confuses you with market trends and commotion. But, by knowing a list of few factors, you can pick the best medical insurance policy in India amidst abundant options available. Some of these factors are-
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IRDA Registration
IRDA or the Insurance regulatory and development authority of India is responsible for regulating insurances in India. According to its handbook on insurance, it is advised to buy the medical policy from-
- IRDA registered company
- Licensed insurance agents
- Common Service Centres (CSCs) & Licensed Insurance Brokers
- Licensed web aggregators
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Coverage
Always remember to check the coverage of the policy as the first step. As it would decide what all benefits you will get, check for factors such as pre & post hospitalization charges, sub-limits, no claim bonus, etc.
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Inclusions and Exclusions
Every medical policy includes and excludes something from its clauses. Therefore, to avoid any last-minute surprises, it is often advised to go through the rules of inclusions and exclusions beforehand.
For instance, most of the policies exclude alcohol abuse cases, pregnancy cases, drug abuse, and suicidal cases from their coverage. All this must be noted before buying a medical policy.
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Lifelong Renewability
Lifelong renewability ensures lifelong support and medical times security. It also eliminates the hassle of going through the insurance buying process again and again.
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Claim Settlement Ratio
An insurance provider with a higher claim settlement ratio always gains a good reputation and trust in the market[1]. Therefore to play safely, buying from the one with a higher claim settlement ratio is advised.
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Customization
If you buy a customized and tailored medical insurance plan, it gives you an upper hand in gaining maximum benefits. One can also get it modified according to the critical illness situation of one.
While you are looking for insurance plans, remember to explore options from reputable providers such as Care Health Insurance. They are known for their extensive offerings of best insurance policies in India, and delivering exceptional customer-service.
As of now, you must have imbibed the fact of how important medical policies are. So, by considering the factors just discussed, buy your own best medical insurance policy in India now!
