Buy Health Insurance

Health insurance guide to the right insurance policy and steps of claims

In life, financial stability is needed at every step. Right from family responsibilities to household expenses, there are several things in which you will need to spend money. Every home sets a monthly budget so that their requirements can be met accordingly. But, have you ever experienced a financial crisis? Do you know want to do if you get hit by health problems? Health related issues always come when you don’t expect them. Just one hospitalization from any family member and your entire budget will get scattered. To get relief from financial woes is an important reason to buy health insuranceWith the help of health insurance, you can get financial stability during bad health times.  

Summarization of some crucial benefits of availing health insurance:

  • One of the important benefits of this insurance is cashless treatment. This means the insured person or its family will get cashless treatments. After treatment, the insurer will work in sync with the hospitals for the payment.
  • There will be benefits of tax as premium paid on Health insurance is considered tax-deductible under the Income Tax Act. This is a also a crucial reason to buy health insurance.
  • There are some plans of insurance in which the spouse, parents, and children can also be insured under the same policy.
  • If there will be any ambulance charges, it will get covered under the health insurance. 
  • Another benefit that the insured person will get is pre and post hospitalization charges up to different periods. This will depend on the type of insurance that you have purchased. Not just this, you will also get the options for health checkups under health insurance.

The good thing about a health insurance is that you or your families don’t have to be dependent on others for payment of medical costs. 

Tips for buying a suitable health insurance

Which health insurance policy will be good? How to find the right health insurance? What if I won’t get good coverage? All these questions are very common to the policyholders. Before buying any insurance policy, just follow these tips efficiently: 

Go through different plans: You are always advised not just stick to the first insurance plan that you get. You will have to have a sneak peek of different plans of health insurance so that you can get to know about their benefits. The main reason to buy health insurance is to get financial cover many diseases. So, don’t forget to have a look at the coverage against the types of diseases.  With a proper review of multiple policies, the consumers will be able to make a better decision. 

Sometimes, the medical cost can be traumatized to the people. So, analyzing several can help find the right plan. 

What’s your budget and requirement?: One of the common mistakes that people do while searching the insurance policies is neglecting their needs and budget. The consumers need to be sure about the details and needs of the policies. The consumer needs to see whether their family’s health needs will be covered under the plans or not. Right from transport charges to medicines and hospitalization to other medical costs, all these will cost you a bit high. So, consider all these costs whenever you are deciding your budget for buying health insurance. 

After all reputation matters: When you are sure about the policy and your requirement, you can search for the background of the insurer. You shouldn’t overlook the company’s market reputation. One of the important things that need consideration is the claim settlement ratio. There are different ways of reviewing the policies of the company. This includes seeking insurance agents to help and searching on the online forums. Forums are available on the internet to help the consumers to ask their queries and get answers from different policyholders or experts. 

Make a comparison: After following all the above mentioned steps, your list of the insurance policies will get narrowed. The last tip that the people needs to follow is making a comparison between a few policies. You can do this based on premium rates, coverage, and claim. With this, you will get a suitable health policy that is suitable as per your needs. There can be a different reason to buy health insurance but you must be careful while choosing them.

Claiming insurance is sometimes confusing for those who don’t have much idea about insurance. Here is a list of some steps that can help you in claiming your insurance:

Steps to claim insurance

Get your receipts ready

The first step is to get the entire itemized bill from the doctor. In the itemized bill, there will be all the lists of the medical service that you got from the hospital. Also, mention the medical costs or other related costs in the itemized bill. For the claim process, the itemized bill is mandatory that will go with the claim form. 

Fill the claim form

First, download a claim form from the company’s website. Fill it out and proceed for the next step.  After this, you will make a few copies of the claim form. This will help you if you somehow misplace the form. Also, make sure that you have mentioned correct details in the form such as date, claim amount, medical costs, etc. If not filled correctly, it may be denied by the company. 

Go for a review of the claim

Before sending the claim form, you need to be sure that you have mentioned the correct information. So, review the form carefully and organize them in order. Now, send the form to the company and keep looking for the claim date. 

With a few steps, you will be done with the claim process of health insurance. Several benefits of health insurance make the people buy it and secure their lives financially for the future. No matter what is your reason to buy health insurance, you must always follow some important tips to find the best one for you. 

Leave a Comment