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Stepwise guide to determine Health Insurance Cover

Posted by Royal Sundaram on 03 Mar 2017

Step-wise guide to determine health insurance cover

Understanding health insurance plans can be tricky. Most individuals rely on the health plans provided by employers. Although it doesn’t need much of analysis, it often fails to provide sufficient amount of coverage. To be able to secure yourself against escalating medical bills, it is essential for you to avail added protection with an individual health insurance plan. But, how do you determine the right amount of health cover?

Here is a step by step guide to determine the right amount of health insurance cover and save a lot of your time.

✓ Step 1:

Estimate your needs

  • Before you choose an ideal health insurance cover, you need an estimate of the typical healthcare costs.
  • It will again depend on your needs, budgets, lifestyle, age and a number of other parameters.
  • For example, a 25-year-old individual will require lesser coverage than a 40-year-old. In the same manner, an individual with dependents must avail a higher health cover as compared to a single individual.
  • Apart from the age factor, there are several other things to keep in mind such as family history of developing diseases, the cost structure of the hospital you usually avail treatment from, and most importantly your budgets.

✓ Step 2:

Compare plans

  • The best way to get your hands on the best health insurance policy is by comparing different plans.
  • Premium, benefits, easy buying procedure, claim settlement process are some of the factors to consider when comparing plans.
  • Also, put your family’s needs under scrutiny. Analyse your previous medical bills and the type of treatment you have availed in the past to get a rough estimate of the future medical expenditure.
  • Though medical expenses are quite unpredictable, knowledge of trends will go a long way in making informed decisions.

✓ Step 3:

Opt for Add-ons

  • Add-ons are additional benefits offered by insurance providers. These are specially designed to cater to different healthcare needs of your family.
  • Here is the list of some of the Add-ons that you can opt for:
    • Personal accident cover
    • Hospital Cash cover


To avail Additional benefits, you might have to pay a little more than the usual premium amount.


The bottom line:

Your health insurance provider plays a huge role in helping you to determine the right cover for you and your family. Ensure that you research well before making a decision.

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