5 things to keep in mind while trying to buy the right health insurance policy to secure you and your family with adequate medical insurance.
In early work life, with low income and savings, you are unlikely to be able to absorb financial shocks from a medical emergency. Health insurance helps you absorb the shock. Get a good health cover for a nominal premium when you are young.
Ensure adequate coverage
Don’t compromise on health insurance coverage to save on premium payments. Large medical costs due to this oversight can cause long term financial damage to you and your family
Find out the geographical spread of the insurance company
Health insurance providers have tie ups with hospitals having a wide network. Check whether hospital or healthcare facility which is empanelled with the insurer, is offering is close to your residence. Also, check if the insurance company has a presence across the country
Study the exclusions
Not all diseases are covered by health policies. Consider policies with the least number of exclusions.
Online policies save costs
Almost all health insurance companies offer online policies. Distribution and other cost savings are passed on to the customers in the form of lower premiums. At the same time, advice and support from a financial advisor is absent for online plans.
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