ATK
New Delhi [India], May 17: With the ongoing medical inflation, having access to medical treatments is becoming more and more expensive. This calls for serious attention to investing in a health insurance policy, through which you can secure yourself financially to avail healthcare facilities for you and your family on time.
However, you must remember to be thorough while selecting health insurance plans for family considering the advantages you would be getting through it.
So go through this blog to know more in detail about how you can proceed with purchasing the health insurance plans for family.
How to Choose the Right Health Insurance Plans for a Family?
The following points feature the things you should look for while opting for health insurance plans for your family:
1. Evaluate the Needs of Your Family
Before you get into the world of insurance policies, you need to have a close look at the health requirements of your family. Consider the existing medical conditions of all the members, along with their health history and potential needs in the future.
Based on determining such medical conditions keeping in mind their age and major health issues, you can conclude your requirements in your insurance policy.
2. Check Out the Offered Coverage
You need to check and compare the varied range of coverage provided by different health insurance providers. Remember to go for the ones that offer comprehensive coverage, which includes critical illnesses, daycare procedures, expenses for pre and post-hospitalisation, in-patient hospitalisation, etc.
Depending on the health requirements of your family, you should also select the one that aligns with it perfectly.
3. Look for the Network of Hospitals
It is important to check the list of hospitals present in the networks of the insurance providers you have shortlisted. The more networks of hospitals a company offers, the better. This ensures your access to quality healthcare services without worrying about medical expenses and hospital bills.
Having a wide network of hospitals also provides you with an assurance of prompt medical treatments during any emergencies.
4. Inquire About Waiting Periods
There are certain terms and conditions of every health care policy according to which individuals have to wait a specific period to avail the facilities of coverage. There can also be exclusions on certain diseases, self-inflicted injuries or cosmetic procedures.
Hence, you must not miss out on checking the waiting periods and other exclusions associated with the family health insurance plan you are opting for.
5. Review Claim Settlement Records
You need to confirm the reliability of a company before investing in them. One way to assess the reliability of a health insurance provider is their claim settlement ratio. A high claim settlement ratio implies the effectiveness of the insurance company in processing and settling claims on time without any discrepancies.
This also showcases their commitment and efficiency in supporting their clients during emergencies.
6. Assess Premiums and Added Costs
Even though the monthly premiums are not the sole determinant of a health insurance policy, it is indeed an important factor to consider. You must compare the range of premiums among different insurance providers considering the coverage they offer, along with miscellaneous benefits and add-ons.
Also, make sure if there are any copayments, deductibles or sub-limits, affecting the overall expense.
7. Understand the Flexibility Offered
It is always better to look for health insurance plans that offer you lifetime renewability and flexibility to upgrade your plan. It is in terms of increasing the sum insured or adding any new member of the family to the policy. Thus, such plans allow you to renew the existing healthcare plans with the changing circumstances of your family.
8. Look for Additional Advantages
Make sure to consider opting for the plans that benefit you with some added advantages or add-on riders. There are some healthcare plans that come with riders for critical illnesses, coverage for specific kinds of diseases, personal accident coverage etc. Such plans are always better in increasing the overall coverage of your policy.
9. Go through the Reviews
Reading the reviews of the insurance companies providing the health care plan you are opting for is a must. It will not only give you an idea of how their existing policyholders are accessing their facilities, but also reflect the real-world perspectives beyond marketing materials.
10. Assess Customer Support
You should always go for the insurance provider that not only sells effective health care plans but remains transparent with their policies and terms. Hence, you need to assess the efficiency of their customer support team to ensure prompt response at the time of emergencies.
The Bottom Line
Overall, the key to selecting the right health insurance plan for your family requires you to evaluate several factors thoughtfully. So, make sure to consider all the points mentioned in the blog, allowing you to be financially secure to avail medical treatments for your family on time.
Feel free to contact ACKO to get details on different family health insurance plans, premiums and benefits.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by ATK. ANI will not be responsible in any way for the content of the same)