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Tips to Get Affordable Health Insurance

22 June, 2015


In today’s fast-paced age, staying in good health is woefully difficult. Good health, as we all know, begets personal as well as professional success. That’s why an increasing number of individuals are found switching to nutritious diets and regular exercise.

No matter how many preventive measures you take, certain medical conditions, owing to your lifestyle, will creep in anyway, bringing you to the point of extreme infirmity. However, the cost of medical treatments are rising at an alarming rate. To guard yourself financially against such untoward medical expenses, a health insurance policy is recommended.

With a gamut of health plans available in the market, choosing the best one that suits your needs and budget can become a taxing task. Following are a few tips that will help you secure an affordable health insurance policy.

Know your Needs:
By assessing the health cover you require beforehand, you will be able to control the premium required to buy health insurance policy. Your healthcare needs will vary as per your age, lifestyle, existing medical conditions (if any), city of residence, and the period for which you need cover. If you are married and having a family, then a family floater option is recommended, otherwise an individual plan is ideal. According to your needs, the cover will change, and so will the resulting premium.

Know your Budget:
Even though your healthcare needs are significant, the extent of cover availed should be within your budget. Several health insurance companies offer premium calculators or offer assistance through insurance advisors to calculate the extent of cover that will suit your requirements while keeping your budget in mind.

Know the covers:
Apart from the simple hospitalization cover, health insurance policies extend several other covers. Some of the common covers extended include pre- and post-hospitalization expenses, in-patient hospitalization care, day-care procedures, accident coverage, and coverage for pre-existing diseases. Choose these covers wisely to minimize the cost of premium.
 
Know the different plans:
There is more to a health insurance policy than reimbursement of hospitalization expenses. Each plan is unique and comes with different extent of covers. Thus, to get the best deal, compare the premiums, benefits, health covers, and exclusions. For instance, plans like Royal Sundaram Lifeline policy offer comprehensive health coverage, as against Royal Sundaram Hospital Cash insurance that provides hospitalization benefits only. Therefore, comparing the plans to suit your needs will be helpful in availing a policy that is affordable.
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