Image Source: Shutterstock
Life is unpredictable, and you can never plan your sickness. But despite the uncertain nature of a health condition, health insurance is one of the most overlooked policies in India as it does not provide you with any benefits until you are diagnosed with an illness. While nobody wants to fall sick, you must understand that it is inevitable, and everyone will have to deal with it at some point. Therefore, you must prepare yourself for the financial burden of paying for hospital bills in India.
Considering the rise in medical issues in India, health insurance for individuals is one of the most important policies you need to invest in today. Further, the rising healthcare treatment costs have made it all the more necessary to have a safety net in place when you have a medical emergency.
Luckily for you, various health plans in India cater to all kinds of insurance seekers. However, in this article, we will talk about health insurance for individuals and how to choose the best plan.
- Choose the Right Coverage Amount
When you are looking to invest in health insurance for individuals, you need to choose a plan that protects you against a wide range of health issues. At the same time, it should provide the benefits, such as pre and post hospitalization, ambulance charges, day-care expenses, etc.
Most importantly, you need to make sure that the coverage amount is sufficient to pay your medical bills. As a general rule, you should choose at least six times your monthly income as your coverage amount. Keep your requirements in mind, compare plans and their benefits online, and then choose a plan that meets all your needs.
- Calculate Your Premium
As you look for health insurance for individuals, be sure to calculate the premium online to choose the amount you can afford for a long time. Budget is an important aspect when buying a policy because you should be able to sustain it. However, it is also necessary to consider the plan benefits before you consider premium.
You need to find a balance between your needs and the policy affordability when making a purchase. Start small if you are a first time investor and gradually increase your cover at various life stages.
- Start With An Individual Health Plan
Health insurance for individuals is a good plan for people who want to start investing at a young age. This is when you don’t have dependents, and you are able to set aside some money for a worthy investment. Young age investors enjoy many benefits, such as low premiums, high coverage, a wide range of options, etc. However, make sure your plan gives you the flexibility to expand your policy coverage as your income and family size increases.
- Look For A Plan That Comes With Lifetime Renewability
Since you will need your health plan most when you grow older, it is better to look for an insurance policy that offers lifetime renewability. So be sure to check for that when you are shopping for health insurance for individuals.
- Compare Policies Online
Trusted insurance providers, such as Care Insurance, give their policyholders the option to compare quotes and policy benefits online to help them make an informed decision, especially if they are buying health insurance for individuals for the first time. Select the best quotes and then compare them comprehensively to arrive at a suitable decision.
- Check Network Hospital Coverage
A health insurance policy is no good until it offers you a wide network of hospitals on its list. You should also check for your preferred hospital in the policy document before investing. Always work with an insurance provider who has a wide hospital network coverage.
- High Claim Settlement Ratio
The claim settlement ratio is the number that determines the number of claims settled in a given year versus the claims raised. A reliable insurer is the one that offers you CSR in the high 90s. It means that you have over 90% chance of getting your claim honoured when the need arises. So keep this figure in mind when investing.
Use these tips to buy health insurance for individuals that give you maximum benefits. Investing in the right policy at the right time will protect you against the burden of medical costs and give you access to quality care when you need it the most.
Furthermore, choosing the right insurance provider also plays a crucial role in your financial security. When you go for a reliable and well-known brand with a consistent claim settlement ratio such as Care Health Insurance, you can lead a stress-free, financially protected life.
My name is Sardar Ayaz a professional content writer and SEO expert having Proven record of excellent writing demonstrated in a professional portfolio Impeccable grasp of the English language, including idioms and current trends in slang and expressions. I have ability to work independently with little or no daily supervision with strong interpersonal skills and willingness to communicate with clients, colleagues, and management.
I can produce well-researched content for publication online and in print, organize writing schedules to complete drafts of content or finished projects within deadlines. I have 12 years’ experience to develop related content for multiple platforms, such as websites, email marketing, product descriptions, videos, and blogs.
I use search engine optimization (SEO) strategies in writing to maximize the online visibility of a website in search results
