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You can thus get additional savings with your health insurance plan which ensures that the family budget is not negatively affected or depleted 3

You do not have to furnish hospital bills to get the amount, which speeds up the treatment process and keeps your family members worry-free 2 Payout upon diagnosis - There is assured payout upon diagnosis irrespective of actual cost of treatment and utilization of benefit amount.Since you get the payout instantly, you can focus on your health without having to worry about the costs and all the other factors linked to hospitalization. Flexibility - There are no limitations regarding the type of hospital room and pricing of the same, or regarding any waiting periods, pre-existing diseases, co-payment terms and so on.1 This ensures that you can easily pay reasonable amounts which do not affect your monthly budget and can get good coverage in return. The premium amount is only ₹ 235 on a monthly basis.

For instance, a 30-year old male policyholder can get coverage of up to ₹ 20 lakhs for a tenor of 20 years. Affordable Premiums - There is only reasonable premiums for policies with easy renewal options.You can then focus on the treatment and subsequent recovery from your illness. This makes sure that you get payout instantly without having to worry about treatment costs. Assured Benefits - Lump sum payout of guaranteed benefit upon first diagnosis of illness covered in the policy without medical bills.Salient features of health insurance plansįixed benefit health insurance plans come with several features that you should know about. Fixed benefit health insurance plans do not come with any limitations since the settlement of claims is based on the diagnosis of an illness and not on the actual hospitalization. Post/Pre-Hospitalization Benefits: Reimbursement health insurance policies may have varying regulations regarding pre and post hospitalization coverage.There are no limitations in other regard as well like room rent, sub-limits and so on.

However, if you choose a fixed benefit health insurance plan instead, there is no requirement to look for a network hospital since you will be paid out the fixed amount based on the diagnosis report of an illness irrespective of actual proof of hospitalization. Network Hospitals: Health insurance policies which have reimbursement-based frameworks, come with faster claim settlement at network hospitals and this is often cashless as well.For example, treatment for serious illnesses like cancer may necessitate costs between ₹ 4 to 20 lakhs and hence, your insurance plan should offer coverage for the entire amount. The emphasis should not be on the cost of premiums alone. Coverage: You should always opt for ample coverage.Any claims linked to these illnesses will be processed only after the completion of such waiting periods. Waiting Period: In case there are any pre-existing illnesses, insurance companies specify various waiting periods for the same.Claims Process: You should be able to get your dues with a fast claims process which does not require much paperwork or substantiation with bills and other medical documents/proof.

While comparing health insurance plans, you should keep a few things in mind. What to keep in mind while comparing health insurance plans The person insured may also seek treatment at a network hospital although expenses will be reimbursed later on by the insurance company post verification. In this case, hospital expenses will be verified by the insurer before the money is directly paid to the hospital. In contrast, other types of health insurance allows the insured to avail of cashless treatment at network hospitals upon hospitalization and treatment for an illness. You do not require medical bills for making a payout claim for the same. Fixed benefit health insurance plans offer a guaranteed payout upon the diagnosis of any critical illness covered by the policy. those that pay for the costs incurred post hospitalization and those which pay out a fixed amount upon diagnosis of any illness without taking hospitalization into account. Health insurance policies are usually of two kinds, i.e. It is important to remember here that what works best for you may not be suitable for someone else, so it is best to do your research before opting for a specific plan. The best health insurance plan for you and your family is one that depends on your specific needs and requirements. Are you comparing health insurance plans for yourself and your family members in order to get the best one? First up, there is nothing that can be objectively classified as the best plan.