There’s no denying the fact that health insurance is one of the most demanding insurance policies that one needs to protect themselves, their family, and assets/property from financial losses. In the past few years, there is a considerable spike in demand for health insurance policies because of the increasing health issues.

Unfortunately, most of the health insurance policies in India don’t provide benefits until you become sick. But Niva Bupa is exceptional as it offers a lot of benefits throughout your policy duration. Since health issues are an undeniable part of our lives, we need to stay prepared for the financial consequences.

Illness and medical emergencies do not come with prior notice, but you can always stay financially prepared with health insurance plans. Make sure that you plan early to acquire more significant benefits. If you have not yet acquired a health insurance policy for yourself and your family, we’d suggest you get one.

Through this article, we will be providing you with five commendable pointers about choosing the best policy. Keep on reading to learn how to choose the best health insurance plan in India. Let’s begin.

1.   Check Whether You Need a Family Floater Plan

Before buying a health insurance plan, you must decide whether you require an individual policy or a family floater. The premium of the family floater policy is comparatively higher than the individual plan.

2.   Think About an Appropriate Coverage Amount

While choosing your desired health insurance policy, think carefully about the coverage amount. It is important to ensure that the cover amount is adequate keeping in mind the long-term view of your health costs. Thus, you need to assess your needs to make sure you have the right amount of coverage. This will streamline your ideas and you will know exactly what to look for in an insurance policy.

3.   Consider Co-Pay and Treatment-Wise Limits

Many policies have placed a predetermined limit on the claim amount for specific illnesses or treatments. So this limit will eventually cap your claim, even after having a more significant sum insured within the policy. Before signing up for the policy, make sure you take this into account.

Another thing that you need to take into consideration is the co-pay. It is a fixed amount of the medical bill you need to pay from your pocket while claiming your medical expenses. For instance, for an approved claim of Rs. 1 lakh, you need to pay a 10% co-pay ratio. So you have to pay Rs. 10,000 while the insurer pays the rest.

4.   Check and Compare Rent Capping Clause of Hospital Rooms

The best health insurance company in India provides comprehensive health insurance plans that best suits your needs. And many of them have room rent capping clauses incorporated within them. That means you can claim room costing expenses up to a specific limit. Opting for a room above the limited value will make you bear the additional costs.

For instance, your policy room rent is Rs. 2000 per day. After getting hospitalised, you choose a room worth Rs. 5000. For that, you need to pay the extra value of Rs.3000 from your pocket.

5.   Check for Cashless Mediclaim Facility Thoroughly

Before buying an insurance plan from Niva Bupa health insurance, check whether they provide a cashless mediclaim facility or not. With a cashless mediclaim service, you can avail medical treatment from your insurer’s network hospitals. This way, you can also avoid paying the medical expenses from your pocket.

When choosing a suitable plan, you should look for those with a more significant number of network hospitals. This will provide you with enhanced feasibility and reduce all your stress and anxieties regarding the same.