Introduction to Religare Health Insurance Company

Religare provides the best health insurance policy in India. The facilities provided by this company under the health insurance plan is admirable. Religare provides numerous health insurance plans including personal, family floater, group insurance, senior citizen, and critical illness cover. There are more than 7400 network hospitals of Religare in India from where customers can take cashless treatment. Due to their 24*7 customer support and cashless claiming facility, this company is named among the best health insurance in India

Investing money inappropriate insurance policy is a wise decision for an individual as well as for the family. Health insurance will provide financial help at the time of medical emergencies. Any person can purchase a health insurance plan for himself and his family as well. You can cover a newborn baby of a minimum of 91 days to your old parents till death. 

Facilities provided by Religare health insurance: The best policy will look for all the medical expenses with not creating a hole in the pocket. A person must consider the below points while searching for the best health insurance policy in India.

  • Maximum Coverage: Mostly health insurance companies provide Comprehensive family coverage to cover all the expenses. These coverage include regular health check-ups, pre and post hospitalization, medical tests, transportation charges, OPD expenses, and organ donor coverage.
  • Affordable Premium: You can check the premium according to the family members on the website of Religare. There you can compare different plans and covers according to your requirements. Moreover, it is necessary to check for pre-existing diseases because it may lead to an increase in the premium.
  • Check Exclusions: Make sure to check the exclusions list while opting for a health insurance plan. All the conditions and scenarios under which you will not be able to take claim are mentioned in the exclusion list. So, you have to choose for that plan which is providing maximum coverage at minimum exclusions.
  • Co-Payment Clause: Under the co-payment clause, the policyholder has to pay 10-30% of the total expenses. The policyholder too decides that at the time of purchasing the policy. The insurance provider will do the rest of the payment. So, remember to check the clauses of co-payment while purchasing health insurance.
  • Network Hospitals: There is no doubt that Religare network hospitals are spread all over and so does in your location too. But make sure to check whether network hospitals are available near your location or how far it is from your area.

Family floater plans

An insurance plan that covers you and your family is called a family floater plan. You can also include your parents, grandparents, and children under a family floater plan. The premium in family floater plans is higher as compared to individual plans. After a period of time all the critical illness and pre-existing diseases are covered in a family floater plan.

Benefits of a family floater Health insurance Plans:

When it comes to the protection of your family the price of the premium you pay is too low. A comprehensive health insurance plan will be suitable to take care of the entire family under a single policy. Moreover, you can choose from other family floater plans as per your need. The basic benefits that a customer can avail for his family are:

  • High sum insured: Customers can avail of high sum insured in family floater as compared to taking individual plans for every member of the family.
  • Cashless hospitalization: You can take cashless treatment in all the network hospitals Just like you take in individual health plans.
  • Highly Affordable: Taking a family floater will cost you less as compared to taking an individual plan with the same coverage. Also, it will provide other additional benefits for your family.
  • Option to add members after purchasing a policy: You can either add or remove members after purchasing a family floater policy rather than taking an individual plan. The premium and sum insured will be increased or decreased accordingly.
  • Tax Benefits: the family of the policyholder can avail attractive tax benefits under Section 80D of the Income Tax Act for the premium they pay in a family floater.

Add On Covers in a family floater health insurance plans

Religare health insurance provides add on covers on taking family floater plans. you can opt for these covers by paying an extra premium.

  • No Claim Bonus: Now customers can increase their sum insured if they don’t make any claim in a single year. This sum insured gradually increased every year by 10% and a maximum of up to 50%. So total if the customer doesn’t make any claim for 5 years then he can avail a total of 150% after 5 years.
  • Everyday Care: You may avoid hospitalization for multiple years, but the general doctor consultation is important in a family. You can avail 1% of the total sum insured for test and doctor consultancy fees. All the routine check-ups are also covered under this facility. Customers can use the cashless card to pay these expenses at a network hospital.
  • Unlimited Automatic Recharge: With this add on you will never be run out of coverage in terms of the sum insured. Automatic recharge will reinstate the sum insured every time when it gets exhausted. You can avail of this multiple times in the total time period of the policy.
  • Air Ambulance Cover: You can add air ambulance cover in your policy in case the doctor suggests to proceed with your treatment in another country or city.
  • Personal Accident Cover: Rather than taking two different policies for health insurance and accidental protection, customers can take it altogether. You have to pay an extra premium and you get 10 times of sum insured as coverage of Accidental Death and Permanent Disability.

7 biggest mistakes that must be avoided when buying a health insurance

star health insurance

Because of increased workload and busy lifestyle, everyone is at risk of developing some health problems. If there will high stress in your life, you might face both financial and mental problems. The medical costs are also rapidly increasing especially in case of some critical illness. Once you get hospitalized because of any illness, you will have to be prepared for the medical expenses of ambulance changes, medicine costs, hospital rooms, and many more. People are suggested not to depend only on the employer’s insurance as it would not be enough to cover all medical expenses. In India, numerous insurance companies provide different plans and policies for health insurance. One of the most preferred is star health insurance that is featured with 90 percent claim settlement, more than 9,800 network hospitals, and almost 100 percent in-house claim settlement.

Health insurance is essential for a hassle-free and stress-free life. But, it is not an easy job to find the correct and the best health insurance. Assessment and proper consideration are needed on different aspects and terms. 

So, here’s a list of some of the biggest mistakes that need to be avoided by the policy buyers:

Only considering premiums

In search of the best health insurance in India, many people prefer buying health insurance only buying looking at the premiums. People mostly have a look at the premiums to make their final decision. But, there are many other aspects such as the family’s need, limitation, and size of the cover. Along with this, hospital networks and medical costs also need to be focused. Sometimes, you might get better health insurance with a good cover with a low premium policy. 

Not shopping around different insurers

It’s frequent people always search a lot when it comes to purchasing a property or buying a new car. Exactly, the same thing you need to do when buying health insurance. If you won’t shop around then you will not know what other insurer is offering to you. I recommend you avoid buying insurance from the very first insurance provider.  

Not focusing on the location of residence

No doubt, the medical cost will be different for small and metro cities. This happens because of the higher cost of treatment with the latest medical facilities in big hospitals. Most of the people just overlook this factor that leads them to some problems while moving from a small to a bigger city. 

Buying health insurance just for tax benefits

People think that buying the best health insurance can help them in getting tax benefits. This makes them buy any random health insurance plan. At the time of claim, you may not get appropriate coverage with your health policy. Because of this, they just buy any health insurance without evaluating its cover, premium, or claim settlement. The tax benefit is just a short term benefit so you need to buy health insurance by properly evaluating everything. Of course, health insurance comes with tax benefits but only considering this factor is not good. 

Skipping the fine prints

People sometimes ignore reading the terms and conditions of the health insurance to save their time. But, this could be sometimes your biggest mistake. In this, you will get to know about all the clear information and details regarding hospitalization expenses, limitations, and exclusions. Skipping these terms can give a shock at the time of claim settlement. Your expectations may not fulfill during the claim settlement. If you want to avoid the last minute’s chaos and shock then take your time and read the fine prints carefully. 

Assuming one health insurance fits all

The medical condition and requirements vary from people to people. If you are thinking of buying health insurance that your friend or relative has bought then this your biggest mistake. Health insurance that works for them might not be good for you. Before buying the policy, one needs to think, rethink, compare the plans, and then buy it. The policy buyer should focus on the appropriate coverage while buying the star health insurance or any other insurance.

Not mentioning the current medical condition

Leaving out information about your medical conditions or diseases can be problematic for you during the times of claim settlement. Because of this, this may cause your insurance claim rejection. If you don’t want a monetary loss as well as inconvenience then you should avoid making this mistake.

These are some common mistakes that policy buyers usually do. By avoiding all these, they can get a better health policy and high coverage. 

How To Identify The Best Health Insurance Plan?

choose best health insurance plan

Health insurance is the best way to provide security to your family from unplanned medical expenses. You have to pay your hard-earned money in medical bills when someone in your family has to admit in the hospital due to serious illness or some disease. There are lots of health insurance companies in the market, offering various schemes. With all of them, you have to pay money to buy an insurance plan but its completely depend on your requirement and choice that from which company you want to bur and for how many peoples. To choose the best health insurance plan available in the market you much compare the facilities and advantages online.

The best Health insurance must have these features for sure:

  1. Online process: From the purchasing of the insurance until the claim settlement, the complete process bust be online and hassle-free. No hard copy is required at the time of settlement.
  2. 0% co-payment: Thins verifies that you don’t have to pay a single penny at the time of claim settlement.
  3. No capping on room rent: You can take any private room (having high charges) and the complete bill will pay by the insurer.
  4. Vast hospital network: You can easily find any collaborated hospital near your location so that you don’t have to take to the patient through a long way to reach the network hospital.
  5. Advance cash benefit: You will get a pre-approved claim in cash before the treatment started.
  6. No claim bonus: It will increase somepercentage to yoursum insured if you don’t make any claim for a year and can be increased gradually if not claimed for multiple years.
  7. Complete coverage provided: Insurance plan must provide complete coverage of the hospitalization including, medicines, OPD, maternity benefits, transportation charges, surgery cost, and other things.
  8. Fixed premium cost: Make sure that the insurance company is not increasing the premium every year by applying any extra charges to the premium.

If you think that you don’t need a health insurance plan, then it is wrong. Like everyone, these days must need this to get themselves financially strong when it comes to medical expenses. Here are another few reasons due to which you need it positively:

  • These days we all are living a Sedentary lifestyle and due to this 61% of hospitalizations cases are reported.
  • Medical bills in Heart diseases are too high to bear and can cause instantly.
  • Pollution in metropolitan cities leads to a rise in respiratory disease.
  • Cancer patients are increasing day by day due to their casual lifestyle.
  • Accident rates are too high in India, that also cause medical emergency many times.
  • Medical treatment is unaffordable due to high inflation rate.
  • A medical emergency can happen anytime and health insurance makes sure that it doesn’t hit your savings.

Apart from these private health insurance companies, there are some schemes run by the government of India to provide financial stability to the weaker section of the society. 70% of the population in India are middle-class families and will not be able to pay a high amount of premium yearly. Under these government schemes you have to pay a low amount yearly and can take advantage of Mediclaim at any hospital.

  • Rashtriya Swasthya Bima Yojana (RSBY): For this government charge 30 rupees per person and you can take a medical cover up to Rs. 30,000. Ministry of Labour and Employment launch this scheme for the families below the poverty line. 
  • Pradhan Mantri Suraksha Bima Yojana: Under this scheme, if your family is economically weak and someone dies in your family then you have to pay an affordable premium and can take financial compensation from the government.
  • Central Government Health Scheme (CGHS): This scheme was initiated in 1954 and since then it provides wide-ranging healthcare services to the central government employees, pensioners, and dependents.
  • Aam Aadmi Bima Yojana (AABY): This scheme was launched in 2017 to provide health insurance to rural landless peoples. Under this scheme beneficiary should be of 18 to 59 years of age and the family of the beneficiary will receive Rs.30,000 in natural death, Rs.75,000 in accidental death or permanent disability, and Rs.37,500 on partial disability.
  • Janashree Bima Yojana (JBY): This scheme was launched in 2000 to provide medical insurance for the BPL families to fall under 45 occupational groups.
  • Employment State Insurance Scheme (ESIS): This scheme will pay for the medical expenses of employed individuals and their families from day one. This is a social security initiative featured for providing socio-economic security to the working class.
  • Universal Health Insurance Scheme (UHIS): Under this scheme, you have to pay Rs.200 for individual, Rs.300 for a family of five-member, and Rs.400 for a family of seven-member. Beneficiaries will receive accidental death cover up to Rs.25,000 and medical expenses up to Rs.30,000. This scheme was implemented for underprivileged families to take better and improved medical facilities at low prices.