For our Forbes Advisor India rankings, we considered the next top aspects that help consumers to make your mind up whether or not they wish to go for a particular health policy. We ranked these best medical insurance plans on the premise of those parameters:
Sum Insured Amount (20% of rating): While analyzing the above-mentioned plans, first we checked the coverage these plans are offering. Select the sum insured amount, as per the needs of yourself and your loved ones. Don’t select a policy which provides more coverage than you wish as it should increase your premium. Deal with customizing the plan by selecting for various riders as per requirement.
Network of Hospitals (30% of rating): It’s at all times higher to ascertain if the insurance company has a large list of network hospitals. The official website of those insurance firms is carrying this information. These network hospitals would offer cashless hospitalization services, where the insured just isn’t required to pay the hospital bill. And, at all times check for those network hospitals which might be in your vicinity.
Sub-Limits and Co-Payments (10% of rating): A health policy that doesn’t have any sub-limits on hospital room rent or co-payment clause, can be a very important factor while considering a health policy. We have now rigorously analyzed these clauses and limits in each of those plans and likewise mentioned, if there’s a presence of such limits or no limits within the plans.
Claim Settlement Ratio (20% of rating): That is an important factor because the only reason the insured purchases the policy is with a hope of a quick claim settlement process within the time of any unlucky event. The next ratio shows that the corporate is steadfast in settling its claims.
Waiting Period (10% of rating): This can be a really crucial parameter, as insured is not going to give you the chance to activate the policy if the waiting period just isn’t accomplished. Nonetheless, these waiting periods are unavoidable. So, you’ll find a plan where this era is relatively less.
Add-on Advantages (10% of rating): The health policies give you a multiple range of optional advantages corresponding to international coverage, maternity coverage, personal accident and important illness covers, day by day hospital money, discounts on long run policy tenure, flexible sum assured option, cumulative bonus etc. At all times select these advantages as per your needs which may provide additional security, over and above the regular health plan at fairly inexpensive rates.
Purchasing a medical insurance policy is a major decision, and in the event you are usually not so sure methods to select the very best one for you, keep the above-mentioned points in mind to avoid mistakes while selecting the very best health policy.