Important Watchouts Before Buying Health Insurance Plan For Self And Family

Many of us have started leading a healthy lifestyle backing it up with wellness programmes or going to the gym.

- Manish Jain

This certainly helps but does not remove the risk of being hospitalised due to unforeseen events. The cost of hospitalisation, especially in urban locations, is increasing at a fast rate. According to a few studies done in the past, medical inflation in India is around 17 per cent annually, much above the general inflation level. The need for adequate health cover is increasingly becoming critical and consequently choosing the right health insurance plan has become very important.

Most of us are aware that buying a health insurance policy helps in meeting the hospitalisation costs. However, when it comes to choosing the right health insurance policy, it becomes a slightly trickier task. Comparing health insurance plans need to be done to choose the right policy. After all, there are different health insurance plans available with different insurance companies. Even for the same insurer, there are different versions or variants of the same policy. With several health insurance plans available in the industry, it may sometimes become little daunting to choose the right one to buy for oneself. But, the numerous features and versions should not deter you to avoid buying a health insurance plan, especially if you are in the pink of health. Idealy, one should buy a health cover while one is disease-free and healthy.

Even before you zero-in to the right policy, there are other issues to take care of. Buying a health cover with an adequate sum insured is important. The right amount of sum insured in a health insurance policy will largely depend on the city where you reside. In big cities, cost of hospitalisation will be more compared to a relatively smaller city or town. Also, a higher sum insured should be opted for in case you or any family member has a family history of any ailment.