COVID-19- a small virus that entered our lives over a year ago now changed the entire world order. It posted an unprecedented burden on medical infrastructure across the globe and for developing countries like India that battle was tougher. While the authorities tried to scale up state-sponsored health facilities to take on the virus, many coronavirus patients were forced to deal with heavy hospitals bills during their treatment.
These sudden unplanned medical expenses inflicted a financial burden on many families that are still trying to get over it. Being prepared for unplanned medical expenses was one of the many lessons that this deadly virus taught us. It also showed us how important it was to have a health insurance policy that can come to our rescue in unplanned times like these.
If you are someone who has been looking to buy a health policy for yourself or your family, here are things you should keep in mind while finalizing your decision.
Buy When Young
Age is one of the significant factors that determine your policy covers and cost, so if possible people should start buying health insurance from an early age which would help them get a better deal.
Know your needs
The most important thing that should be considered while buying a health insurance plan is your own requirement in terms of coverage limit and other benefits.
Understand the coverage option
Each health policy has its own benefits and limitation, so it’s very important to fully understand the plan in detail before making any final decision. Buyers must understand the offerings as to what is covered and what is not. Also, confirm whether the insurer provides coverage for COVID-19 or not.
Background check of the Insurance company
Do your research about the insurance company and study their past record in claim settlement. The buyer should also know about the average time taken by the company to settle claims whether it’s cashless or reimbursement.
Compare as many numbers of health insurance policy as possible before locking the one that’s best suited for you. This will allow you to get the best deal and save you money.
Network of Hospitals
Every insurance company gives a list of hospitals in their network where the insurance cover is applicable on a cashless basis. Buyers should go through this and check which nearby hospital would provide this facility before making any final call.