13 Things to keep in mind while buying health insurance for individuals

13 Things to keep in mind while buying health insurance for individuals

Health disorders can lead to several discomforts and one should know how to prevent them effectively. Moreover, the costs of medical treatments are increasing day by day in hospitals that will result in financial crisis. Therefore, having a health insurance policy will help a lot to get coverage for various ailments that will help overcome unwanted problems. Since the plans involve different types, it is wise to evaluate them with more attention to choose the best policy. Individual health insurance offers several benefits when compared to group insurance. It is ideal for those who want to get protection from high medical bills and treatments that will help reduce the financial burden. 

Buying health insurance for individuals involves several factors that require guidance from industry experts and others. This, in turn, gives ways to select a policy that best suits the needs of a person. 

Here are some things to keep in mind while purchasing health insurance from a company. 

1. Minimum age criteria 

It is imperative to know the minimum age criteria before buying an insurance plan. Those willing to purchase a policy for individuals should know the benefits in detail that will help make the right decision. 

2. Looking for a sufficient sum 

Anyone who wants to choose an individual health plan should look out for a sufficient sum insured that caters to their needs. By doing this, they can focus more on recovery instead of paying medical bills. Apart from that, it provides ways to claim amounts after getting admission to a hospital. 

3. Premium rates 

New policy buyers should consider choosing a policy with low premium rates that will help save money. They can also compare the rates online which gives ways to pick a plan which tailor to the budgets and needs of individuals. It is wise not to overburden in policy buying to minimize complications. 

4. Pre-medical tests

Some insurance plans require pre-medical tests and customers should aware of them properly to avoid them early. Another thing is that it provides ways to cut down additional expenses to ensure peace of mind.  

5. Co-pay and sub-limits

Insurance companies introduced co-pay and Sub-limits for policyholders to ensure more benefits. If a policy has 10 % co-pay, then the insurer will pay 90% of expenses for medical treatments and a person should bear additional expenses. At the same time, some insurance plans have sub-limits that will the claims. Therefore, it is necessary to evaluate them with more attention. 

6. Top-up 

Individuals should evaluate whether insurance providers offer a top-up plan or no to get additional coverage. Apart from that, it gives ways to avoid buying a new policy that will lower expenses to a large extent. 

7. Specifications

Those willing to buy a new policy for individuals should know the specifications in detail that will help select the right one accordingly. 

8. No claims bonus

A majority of insurance companies offer a no claim bonus feature for policyholders when they don’t claim the amount for a year or more. Hence, new buyers should check the quantum of no claims bonuses that will help coverage against medical inflation. Besides that, there is no need to increase the coverage every year that saves time.

9. Pre-existing conditions 

When buying an individual health insurance plan, customers should check the pre-existing conditions in detail. This, in turn, paves ways to claim amounts for major illnesses after getting admission to a hospital. 

10. Add-on features 

It is imperative to check whether individual health insurance plan covers add-on features such as automatic recharge, international second opinion, annual health check-ups, etc. 

11. Waiting period and exclusions 

New policy buyers should consider the waiting period and exclusions that will help buy the right plan which best suits their needs. They should know the information in advance which gives ways to accomplish goals in the treatment process. 

12. Reviews 

People should read reviews of insurance providers online to compare the plans and other things. Also, they can gain ideas quickly enabling them to select the best company which caters to their needs. 

13. Quotes 

Individuals should consider getting quotes from multiple companies that will help to pick a plan at affordable rates. Some companies even provide discounts on health insurance plans thereby showing ways to save more money. 

Where to buy health insurance for individuals?

New policy buyers should choose the topmost company after making a complete study. Care Insurance offers a wide range of options for customers when they want to purchase a new health insurance plan. The company covers excellent features for individuals while buying a policy. Some of them include Ayush facilities, discounts, lifelong renewability, annual health check-up, hospitalization costs, pre- hospitalization, and post-hospitalization. At the same time, it is wise to seek tips from the company while buying a policy. The insurance plan allows individuals to manage the financial crisis significantly. 

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