Health Insurance Plan,Mediclaim Insurance. Why You Need Health Insurance.

Like bread, cloth, house, health insurance is important, how to choose.

How to choose health insurance:- Health insurance is as important as bread, clothes, houses in our everyday life. Just as diseases are increasing, medical expenses are also increasing day by day. Take today's most talked about corona, which has created a world-wide tragedy. There is no cure for the Corona virus nor any vaccine. Today if we look at the cost of treatment of this disease, then the expenses of some days in private hospitals are not less than 4-5 lakhs. Some private hospitals are getting 2-3 lakh deposited before the patient is admitted. Even after this expense, beds are not available in hospitals.

Many People Buy Health Insurance,But Not The Appropriate Amount. 

For example, if a person insures one lakh, then this amount is very inadequate. Nowadays, even for the smallest illness, one to two lakh rupees are charged. If you insure insufficient amounts, then understand that you have not been insured.

Because, in any disease, when the expenditure will be more, then ultimately the burden will be on your savings. You will get money according to the sum insured (insurance) from the insurance and the rest you will have to fill the hospital from your pocket. We should understand the problem when only the earning person is in the hospital and the rest of the family has to make money. Every man should buy such insurance, which is suitable for his family and also for himself.

The amount of insurance also depends on the earning of a person. 

There is a big understanding in this case that a middle family must have health insurance of at least three lakhs. You can buy a floater policy by not buying an individual policy, in which the whole family will be insured and expenses will be reduced. The younger you buy health insurance, the lower its premium will be.

Now you understand the difference between individual and floater policy. Suppose you take an individual policy of 300,000, then only your health insurance will be in it. But if you take a floater policy of 300,000, then you can also include yourself, wife and children in it. Such cases are very rare when the whole family falls ill simultaneously. Therefore, this insurance amount will work for your whole family and the premium will also be reduced.

Top up policy :-

Along with the floater, you can also get a top up policy, whose premium is very low and the sum insured increases considerably. For example, suppose you bought a floater policy of 3 lakhs for yourself and the whole family. After that you also bought a top up policy of 5 lakhs. The top up policy will work only when your earlier three lakhs are spent. Suppose your hospital bill comes to ₹ 4,50,000, then you will get Rs. 3,00,000 from the first floater policy and the remaining one and a half lakh rupees will be paid from the top up policy.

If you look at the premium, then suppose the premium for a floater policy comes to 20,000 for 3,00,000, then the top up policy premium of 5,00,000 will only come to 10,000. If we use this mail, then the entire policy will come to just 30,000. That too for your whole family. Your insurance amount will also increase to 800000. With this, you will be able to get your treatment in the best hospital.

Add-on Cover ie Rider :-

Apart from top ups, many insurance companies also provide add-on cover. With these add-on covers, the efficiency of your policy increases significantly. These add-ons are also called riders. For example, Maternity Cover, Hospital Cash Cover, Critical Illness Cover, Personal Accident Cover, Ayush Treatment Cover, Pre-Existing Disease Cover etc. can be taken. The capacity of our base policy increases considerably by depositing some additional premium.

Money is not wasted :- 

Some people think that if we do not fall ill, then all the money will be wasted. Suppose a man paid a 10000 premium for 6 years and nothing happened to him. In the seventh year, he had an illness and his expenditure was 200,000. Now think that if he had stopped that policy, would he have got Rs 2,00,000!

Peace of mind is most important for you. If you get health insurance, you can be sure that under any circumstances, someone will be ready to help you. And you will not face any financial crisis.

Learn how to choose

Find out the network: First find out how many network hospitals the insurance company has in the entire country so that you can get cashless treatment. The larger the network, the better.

Know the waiting period: Know the length of time you may have to wait to start coverage of which disease. After purchasing a health policy, you cannot claim to get money for the treatment of the disease for a few days.

Must see ICR (Include Claim Ratio): It is important to know the ICR (Include Claim Ratio) of the Health Insurance Company. This directly means how much premium amount was received by the health insurance company in a year and how many claims were received by the company during the year. 50 to 65 is considered a Balanced ICR. If below 50, it means that there is less claim in the company or the company does not make the settlement at all. It should be avoided.

Deciding the amount of coverage: It is a matter of how much health cover to take, it depends on you in which city you live and in which city you want to get treatment. If you live in the middle class, then a cover of at least 5 - 10 lakhs should be kept.

Giving correct information: While taking health insurance, you should give correct information about your medical record. If you give anything wrong information, then the insurance company can refuse to give the claim, due to which you may face problems.