Purchasing the Right Health Insurance for Yourself and your Family

With numerous health insurance plans that exist in the market, it is important for you to weigh your options well and find the best coverage that suits your medical needs or that of your family. While looking for an individual medical policy, you will be able to find coverage for the following aspects of your medical expenses –

  • Comprehensive coverage for expenses related to hospitalisation
  • Options with respect to sum insured that typically range between 3 and 15 lakhs
  • Most reputed health plans providers in India, such as Max Bupa offer cashless hospitalisation at their vast networks of healthcare facilities
  • Many insurance companies also provide lifelong renewal on individual health insurance plans
  • Also check if you are able to get a waiver on your sub-limits on room rent or co-payments
  • Check for claim free bonus Finding the right health insurance policies for your family members In addition to the above mentioned benefits, most family medical insurance policies in India cover the spouse, dependent children and dependent parents. Companies like Max Bupa are also offering coverage for in-laws under a family plan.

Other benefits of finding the right medical insurance policy in India include -

  • While most policies cover cost of hospitalisation, many such as those offered at Max Bupa also cover other expenses incurred such as food, refreshments and commute between home and the hospital. Your pre-fixed per day remuneration will be specified under the ‘Daily Hospital Cash Allowance’ header in your offer document.
  • Many health insurance policies also cover expenses incurred during the recuperation, where it is important to extend the hospital stay for better treatment. This cover is essentially granted for a period of about 7 to 10 days. This also covers costs due to loss of income. This coverage is ideal for single income households.
  • Now, one can also find medical covers that financially protect the insured from domiciliary treatments undertaken under the advice of a qualified and licensed doctor. This coverage is applicable in cases where the patient in question is unable to be transferred to the hospital for reasons that are justifiable by a medical professional.
  • Furthermore, if a child under the age of 12 is insured and requires hospitalisation, the accompanying adult is eligible for a fixed allowance. The parameters of this allowance are decided on the basis of the policy type and discretion of the insurance company.

Finally, you may also consider investing in a critical illness policy, while going for a medical insurance policy in India, which offers higher limits of sum insured in case of conditions such as cancer or organ failures. Many companies also offer lump sum survival benefits. Depending on the needs of yourself and your family, you can purchase a policy that sufficiently covers medical expenses.

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