Here’s How You Can Easily Compare & Save While Purchasing Health Insurance Policy

Have you ever bought any important things without going through the available options in the market? No, none of us purchases anything without scrutinizing the pros and cons of a product whether it be apparel, electronics or private vehicles. So why take a risk while buying health insurance? There are over a dozen companies in India that offer multiple plans with various features and benefits. Each plan covers certain aspects of the medical treatment of the insured individual and his family. The point of consideration is extracting the full worth of money spent on availing the plan. 

Some people tend to take personal advice from friends and colleagues in order to decide which plan is beneficial. However, since individual opinions are based on personal experiences, this is not the right way of decision-making. You should not make the same mistake and find a reliable website that will do the task in a much simpler manner. Several insurance aggregators in India offer help to compare health insurance policies and invest in the best policy through online portals. 

Comparing health insurance plans is the most crucial part of making the purchase. 

What Are The Important Factors Of Comparison? 

A detailed evaluation of some key features of the available plans can help one to compare health insurance policies easily. It is also important to identify the needs and define a budget under which one is speculating the options. 

Premium Amount Vs Coverages Offered 

This is the most important factor as there are companies that offer the same benefits under different premium rates. Some of the health insurance customers tend to regret their decision after finding out that they could avail the same coverages at a lower price. The best option is to take the help of renowned websites that offer an evaluated comparison on a single dashboard. 

Cost of Available Add-ons 

The add-on covers or riders offered by insurance companies can successfully enhance a health insurance cover. Few top companies of the league also facilitate customization of plans as per the needs of the customer. Compare health insurance add-on coverages to make most out of the money and reap the benefits of a comprehensive plan.

Claim Settlement Services 

The claim settlement ratio of every company reflects how conveniently and successfully they meet the expectations of the customers. It is better to look at the payment history of every company before ending up choosing one. After all, running after the insurer for the promised amount does not sound like a desirable option. 

Renewability of Plans 

Insurance plans renewals cost a certain amount for validating the benefits after the completion of the term plan. Whether a company provides lifelong renewability or not is a point of concern. If it does not, you might have to pay much more than the regular renewal amount or buy a new insurance plan altogether. 

Terms of Coverage 

Every company lays out terms and conditions of coverages that the customer must agree to, before making the purchase. The waiting period for pre-existing diseases, co-payment facilities, family floaters, pre-plan medical check-ups and the age limit must be given a fair amount of thought. Compare health insurance plans on these factors to discover the best one. 

Availability of Discounts 

Is there any Indian who does not love discounts? Insurance companies also know this very well which is why they offer exclusive discounts on premiums under predefined conditions. Look out for the ones serving the maximum discounts in order to make a profitable purchase. 

How To Compare Health Insurance Quotes Online? 

The plenty of plans and convenient online methods for buying them has made our overall experience easier. In addition to this, now you can also compare health insurance policies of various companies through accessible online portals. The emergence of financial aggregators in India has turned into a blessing for customers across the country. All you need to do is follow a few simple steps to find the most suitable health cover. 

• Search for a reliable source to compare and buy a health insurance policy. 
• Sort out the names of the insurance companies you are interested in after analyzing their credibility and service record. 
• Since the amount of premium is variable and dependent upon key factors like your geographical location, age, health details, etc., you need to fill a proposal form with all the accurate information. 
• Submit the form to get the quote from all the companies and their benefits. Compare health insurance coverages offered by each of them. 
• Note to look at the ICR (Incurred Claim Ratio) value of every service provider which is the most important parameter.

The scenario of the insurance market was quite different, not less than a decade ago. Neither there were well-developed online portals nor the awareness about the benefits of the policy. Today, the market is filled with eligible health insurance companies that provide financial coverage through a hassle-free process. Your task is to compare health insurance plans and save as many bucks as you can!