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  • Writer's pictureRajat Chauhan

What to Consider When Choosing the Best Health Insurance in India


In today's day and world, where everything is so fickle, Health Insurance has become a necessity for all. With the continuously increasing prices of healthcare facilities in the country, it has become the need of the hour to help provide financial stability and security in times of medical emergencies. Due to its importance, it is necessary to choose only the best Health Insurance in India that caters to you and your family’s needs. This article provides you with an overview of all the things you should keep in mind before choosing insurance in India.


The Health Insurance Scene in India


There are a lot of Health Insurance options available in India that you can opt for. They provide coverage for many things like hospitalisation costs, outpatient services, medications, etc. As for statistics, in 2021, only 514 million individuals in India were insured by Medical insurance, representing only 37% of the nation's population. Around 400 million individuals in the country are still without any health insurance plans.


Factors to Consider When You Choose the Best Health Insurance in India


There are several things that one should keep in mind before purchasing the best Health Insurance in India. We’ve curated a list of certain factors you need to keep in mind to make an effective decision for you and your family:


  1. Types of Health Insurance:


Types of health insurance are available in the market that you can opt for, some of which have been listed below:

  • Individual Health Insurance (These plans provide coverage to the policyholder only and don’t include any other people in the plan.)

  • Family Floater Health Insurance (These plans provide coverage for the whole family under a single policy and include the holder’s dependents.)

  • Senior Citizen's Health Insurance (These provide care for people between the ages of 60 and 75.)

  • Critical Illness Insurance (These provide coverage for life-threatening diseases, for example, heart attack and stroke, cancer, renal failure, and/or paralysis.)

  • Women-Specific Health Insurance (These plans are created to serve the specific medical needs of women, like maternity costs, new-born care, child education, and diseases that mainly affect women.)

  • Top-up and Super-Top-Up Health Insurance (These plans are like add-ons to your base insurance; they provide supplementary protection should medical charges surpass the coverage provided by your standard policy.)

  • Disease-Specific Health Plans (These plans are focused on providing care for specific diseases, such as cancer and diabetes, and remove the waiting time that a lot of plans have.)


2. Claiming Process:


This is one of the most important aspects of health insurance and is crucial when it comes to choosing the best health insurance in India. You should be aware of a policy’s settlement claiming process before making the purchase. This aspect of the plan must be quick and easy to avoid hassle at the time of a medical emergency or crisis.


3. Insurance Amount:


 You should always research and check the exact amount that the insurance provider is giving with their policies. Things like the cost of health care in your area and medical needs all play a role in deciding which insurance amount is perfect for you and your family members.


4. The Age Criteria:


Age is another important factor that should be kept in mind when it comes to deciding on suitable health insurance. You should keep the age of your dependents in mind, as oftentimes in family floater policies, the cost of premiums changes due to this factor. Policies also have different minimum and maximum age requirements that should be kept in mind.


5. Lifetime Renewal:


Health Insurance lasts for a certain time, so you must opt for plans that offer the option of lifetime renewal. This helps in availing any benefits from the plan without putting restrictions due to age or any other factors. This also helps the policyholder avoid any kind of extra charge. 


Conclusion


Getting health insurance is truly a crucial step to take in today's day and world, and to ensure that you pick the best Health Insurance in India, certain factors need to be kept in mind. It’s essential to review these things when you search for policies, as it makes sure that all your needs are met during a medical crisis. If you’re looking for Health Insurance that provides the best coverage in the market, then ACKO is the best choice for you!


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