How To Select The Right Health Insurance Plan?

Find out before you buy health cover

- Manish Jain

Most financial planners suggest buying a health cover for self and family members even before one starts to save. Buying health insurance is considered to be the first step in the financial planning process. But, with several different features across plans of so many different general insurance or standalone health insurance companies, it could be difficult to choose the right one. Also, there are certain specific restrictions in almost all health insurance plans and one needs to be aware of them for a smooth settlement of the claims. Being unaware of these restrictions can result in an unhealthy claim experience and can even turn costly for the policyholder.

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 multiple health insurance plans available in the market, it may sometimes become little difficult to choose the right policy.

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. One should ideally buy a health cover while one is not suffering from any disease and is healthy, in order to avoid premium loading or rejection of the proposal, in case of any adverse medical condition.