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Royal Sundaram iTalk

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Identify Your Needs

The first and foremost thing you need to do while buying a health insurance plan is to identify your needs. Keep in mind the health insurance needs of your family and then decide the type of coverage you require. This will give you a clear picture of the coverage amount. For example, for a single or young family, a health cover of Rs. 4 Lakhs is enough as they are less prone to illnesses while a family with a senior citizen or old parents, it is good to buy a health plan with a larger coverage option.

Choose the right amount of cover

This is yet another most important thing you need to know while buying a health insurance policy. You should decide your coverage amount basis your and your family’s health condition. For those who are more prone to illnesses should go for higher coverage.

Network Hospitals Coverage

Apart from choosing a comprehensive insurance plan, you must check all the hospitals included in the insurance company’s list of network hospitals. Go for an insurance company that has links with the renowned hospitals where one would prefer going to in case of any medical contingency. Also, make sure that the network hospital is close to your house and has good treatment facilities.

Know insurance company’s credibility

Keep a track of the insurance company’s past records. Also, you should look for the insurer’s claim settlement ratio that shows the number of claims received and settled by the insurance company. It is advisable to go for an insurance company with high claim settlement ratio. In addition to this, you must also consider the number of years a company has been in the insurance business.

Critical Illness Cover

The ideal health insurance plans are those that cover critical illnesses and other major diseases. Thus, it is beneficial to look out for an insurance policy that cover the highest number of illnesses.

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