How to Buy Health Insurance Plan Online This Financial Year

Aug 01, 2018 | 4 months ago | Read Time: 2 minutes | By iKnowledge Team

Every new financial year, you can take stock of your finances and think of how you can do better. If you are one of the many uninsured Indians today, you may question why health insurance is so crucial – particularly since you are young and fit. There are smart ways to save money, but leaving out health insurance is not one of them.

The right health insurance plan can help you secure your finances when you and your loved ones need it the most. So, now that you should go for a health insurance plan, here are some pointers you can follow when planning to buy health insurance online:

1. Consider your needs

If you buy a health plan without assessing your needs, it may not serve your cause. Perhaps, a specific health plan may appear attractive because of its low premium but unless it doesn’t fulfil your needs, it may not be a good fit.

When choosing a plan, consider the individual needs of your family such as age of your family members, any prevailing family ailments or critical illnesses.

Opt for separate plans for better coverage rather than joint plans. Along with a health insurance plan, perhaps you could also consider creating an alternative financial cushion by purchasing a critical illness plan.

It is beneficial to have a critical illness cover, in addition to a health plan for wider coverage. iCancer plan from Aegon Life will give you financial protection against cancer treatment costs.

2. Compare features of policies

Before buying a car, you would look for one with the best features, right? Similarly, while looking for a health insurance policy, use aggregator websites to compare health insurance plans to buy online.

You can compare various policies based on parameters like health insurance add-ons, insurance coverage, policy terms and more. When picking a policy, look for family cover or family add-ons to ensure you receive maximum benefit from your health insurance policy.

3. Look for added benefits

Most health insurers offer additional benefits like cashless services, regular health check-ups, post and pre-hospitalisation expense reimbursement, ambulance fees, no-claim bonus, room-rent and more. As health policies come with tax benefits under Section 80D of the Income Tax Act 1961, it will help you save tax too.

4. Provide complete information about yourself

Disclose your medical history to the insurer with complete information about yourself and your family. This includes medical history and information concerning you and your family. Complete all medical tests as specified by the insurer for the pre-enrolment process. This reduces the possibility of your claim being rejected.

5. Consider important factors

Some factors worth considering while buying a health insurance policy online include claim settlement record, the scope of cover, renewability, cashless network, premium loading, internal teams, floater sizes, health insurance portability, restore benefit facility, top-up plans and waiting periods. The best policy will have a good combination of these factors to cater to your needs. Some policies can also be customised based on your needs, for an extra fee.

Conclusion

What matters most is your family’s health. So, take a step forward by selecting a health insurance plan that suits your family’s needs this FY 19.

Advt. no.: II/Jul 2018/4283


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