As it is said, “Healthy mind resides in a healthy body,” it is utmost important to take care of one’s health. Inspite of maintaining healthy life style including balance diet and nutrition, several environmental factors may lead to illness once in a while. Getting medical treatment can be a heavy expense all of a sudden; hence, it is wise to take health insurance.
While picking up the insurance plan, it is quite necessary to do some market research for picking up the best plan. However expenditure on health insurance premium can be pretty high, especially when one is picking up the plan for the entire family. However, premiums on plans such as Religare health insurance can be quite beneficial. Such plans offer facilities such as:
- Thirty Days Pre-Hospitalization Coverage: Even before getting hospitalized, the expenditure incurred on diagnostic test and routine medicine can bring a big hole in pocket. Health insurance such as Religare health insurance cover the cost incurred on these.
- Ambulance Cover facility: It bears the expense on domestic road ambulance used for hospitalization and even air ambulance if suggested by the doctor.
- In-Patient Hospitalization: It include coverage for all hospital expenses including doctor’s fees, surgeons’ fees, room charges, nursing expense, OT charges, oxygen, blood, anesthesia, diagnostic test, etc.
- Yearly Health Check-ups: It covers the expense on annual health check up for the entire family.
- Automatic Recharging of Insured Amount: It helps in bearing the additional expense in case the health insurance is unable to cover the entire expense.
- No-Claim Bonus: No claim yearly bonus can increase the principle amount to 10% upto 50% for five years.
- Organ Donor Cover: It also covers expense on getting organ from an organ donor in case of organ transplantation surgery.
- Reassurance to take Second Opinion with no extra cost
- No Upper Age Limit for Enrolling for the plan: It can be availed even a person is 100 years old.
- Lifelong Renewability: The plan can be renewed year after year to take care of the person throughout.
- Coverage for alternate treatments also: It offers coverage for non-allopathic treatment such as Unani, Ayurveda, Homeopathy, Sidha which can equally effective.
Ways to Lower the Healthcare Insurance Premium
Following are some ways to reduce health insurance premium:
- Buying health insurance plan early: It is a ground rule for making investment in the healthcare sector. The premium for young people is quite low as the chances of falling ill in the young age is low.
- Purchasing top-up plans: Top-up plans refer to healthcare insurance plans which can be availed after a basic limit. It helps in extending the medical coverage without the need of buying a new policy. It is also cost effective and advantageous as it helps in fixing the threshold limit of the medical coverage available with the person. It is important to note here that the higher the threshold value lower will be the expense on top-up plan.
- Purchasing floater policies: When one is looking for the health insurance policy for the entire family, it is wise to look for a floater policy which offers medical coverage for all the members of the family. The advantage of buying a floater policy is that premium on it is low in comparison to buying individual policies for all the members. However, the floater policy might not be sufficient if the two or more members become sick. Floater policy is good for the families which are healthy in general. In case a member of the family frequently fall ill, it is better to buy an individual policy for that member and floater policy for the rest of the members. Plans such as Religare health insurance offer both option of floater as well as individual plans.
- Selecting option of co-payment: In the co-payment option, the insured individual partially needs to bear the claim of health insurance, which is normally between ten to twenty five percent. Moreover the premium for such policies is generally low. Yet it might not suitable for the senior citizens or for the person who fell ill frequently.
- Purchasing two year health insurance policies: As the annual premium on two year health polices is less than that for one year plan, hence, it is wiser to opt for it.
- Comparing and contrasting various policies prior to buying: The market is flooded with the healthcare policies but it’s not necessary the cheaper one will be the best one. Hence, it is better to do intensive research regarding the prices, facilities offered and hospitals provided by the healthcare policies before taking the purchasing decision. Plans like Religare health insurance can prove to be very advantageous when compared and contrasted with other ones.
Good health is always desirable; hence, it is vital to restore it. Healthcare insurance plan offer medial cover so that marinating good health becomes easy, simple and light on the pocket.