In India, the majority of the people do not believe in the idea of buying a health insurance plan. Some get it from their company while others get it because they can save taxes. However, whatever the reason is, having a health insurance policy is always better than not having one. If you too are confused about whether to buy a health insurance policy or not, then you first need to understand the meaning of health insurance.
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What is a health insurance policy?
A health insurance policy is an insurance product that provides coverage for medical expenses incurred due to an illness. The expenses can be related to medicine costs, hospitalization costs, consultation fees of the doctors, etc. In simple words, when you have a health insurance policy, you do not have to worry about medical expenses before getting hospitalized.
Choosing the best health insurance company
It can be very challenging to choose one, especially when there are already so many health insurance companies in India. Here are some factors that can be considered to find the best health insurance company.
The coverage benefit is one of the most important parameters that should be considered. You should shortlist the names of the health insurance companies in the country that come up with all-around coverage. You will get coverage even against medical costs.
The range of plans offered
You should opt for a health insurance company that offers a wide range of plans. By doing so, you can expect to get plans such as disease-specific plans, critical illness plans, senior citizen plans, and many more.
When choosing a health insurance company, you should look for a company that offers plans with affordable premium rates. This will help you to continue with the plan for a longer time without failing to pay the premiums on time.
List of network hospitals
Checking the list of network hospitals of the health insurance companies in India is very important and you must not miss out on this. Also, try to check if you can find any network hospital near your home.
Claim Settlement Ratio
The percentage of the Claim Settlement Ratio of an insurance company shows the number of claims of the customers that have been settled by the insurance company. If the CSR of an insurance company is 91%, it means out of 100 claims, 91 have been settled.
Customer support service
Checking the customer support service is equally important. The customer support service of an insurance company should be very good. This will help you to find a solution to your problem at any time of the day.
Health insurance companies in India
Mentioned herein below is a health insurance company in the country which is usually recommended.
Aditya Birla Health Insurance
It is a subsidiary of Aditya Birla Capital Ltd. and was launched with an aim of simplifying the general insurance services for the customers. The benefits and features of this company are mentioned below:
- The insurance company has over 5850 network hospitals across 650 cities in the country and offers cashless treatment.
- By buying health insurance from this provider, you will get access to over gyms, fitness centers, yoga centers, etc.
- You will be able to avail of discounts on medicines at 2300 pharmacies in over 250 cities in India
- As per the plan you choose, you can also get in-patient AYUSH treatment cover.
Like this, there are several health insurance companies in India that you can opt for. To find information about them, you can visit the IIFL website. You will not only be able to know about one or two but many of them.