Considering Indian healthcare perspectives, even the best health insurance plan in India is nothing but a modified form of Hospitalization Insurance. Such a scheme implies that only the medical bill prior to your admission in few selected hospitals would be borne by the insurance company. Needless to say that you got to judge the concerned scheme from those cost elements, alongside few additional parameters.
When it’s about making a strategic investment to meet emergencies like health complicacies, certainly you are to rate both tangible and intangible benefits associated with that scheme. Such facilities are associated with structuring of healthcare industry, and Indian Territory is yet to get that organized framework when compared with her western counterparts. A scheme that has earned the status as best health insurance plan in India is actually a prototype of Hospitalization Insurance practiced in developed countries. It means that you have the single benefit of getting your medial bill paid by the insurance companies (and that too subject to particular illness or accident types and treatment in few chosen institutes). Considering this perspective, a plan that comes with justified price tags is supposed to be your preferred option. You may note that while making a comparison between available products; better opt out from exact matched ones, alongside vital features to give long term benefits
- Schemes coming with frills almost double the average premium for non-frilled plans, with little or no additional benefits at all. Most of us can manage consultation fees charged by the local physician, bills for general medicines etc, and there’s no point in raising premium level by inclusion of these mere expenses into the plan
- You are not supposed to compare schemes with respect premiums, unless they offer more or less similar benefits. Health insurance is a complex pattern of financial contracts, with even more complicated terms and conditions. That’s where each is different from the rest, and so are the premiums charged
- Maximum age for renewal of the scheme is trusted parameter to consider credibility of a plan. You seek health insurance to safeguard yourself or your family member from ever increasing cost of medical treatments. Besides, the current rate of life expectancy in India is on a high, thanks to medical science development. Combining these two, stay away from a plan that has shorter lifespan for renewal
- Upon understanding daily cash limit health products, you can make considerable savings. Such schemes offer a maximum cash limit for critical operations and surgeries, and would be added to actual medical expenses. Automatically, you are to shoulder more premium load
Besides these all, you can rate a insurance plan with respect to coverage amount offered, facilities for senior citizens, TPA/non TPA study etc as well. For too many confusing options, there’s always provision for appointing a profession to offer right suggestions.