How to select the Best Health Insurance Plan?

Choosing from a myriad of the best health insurance plans in India is a challenge even if you are well equipped with the information that is needed to pick one out. However, we have a checklist that lets you pick out the best mediclaim policy depending on your requirement. It could be anything ranging from a couple of pointers such as keeping an eye out for the sub-limits, or everyday medical expenses that the company claims to bear, or even those ambulances charges. Let’s find out:

Health Insurance Claim Settlement Record

Never go for a company which has a track record of delayed claim settlements. The credibility of the insurance provider is determined widely by the claim settlement record, be it car insurance or a mediclaim policy. Delayed payments, late response, etc. are glaring red flags which tell you to steer clear of a service provider. It could be possible that your claims are nullified based on some absurd reason or is wrongly withheld by the company. Therefore, do a background check and find out the claim settlement ratio. The higher and the quicker it is, the better – that’s exactly what IFFCO Tokio offers. It saves your time and saves you from the inconvenience which you would otherwise have to go through trying to claim your bills. This is one aspect that you get to know clearly about when you read health insurance reviews.

Cashless Network Hospital

Online health insurance plans i.e. mediclaim insurance policies by IFFCO Tokio recommend that you get treated at network hospitals, for a reason. Therefore, it is essential that you reach out to those network hospitals when you are in need of medical assistance. It is necessary that you check before you leap into a hospital for treatment believing it to be covered by the insurance company. With simple precaution, your family is saved from the troubles of collecting all medical documents, and thereafter arranging them to file for reimbursements. Since the mediclaim insurance provider is tied up with a hospital, listing it as a network hospital, the bills are settled internally. In case the sub-limits are breached, the cost has to be borne by you as an extra expense. It might sound unviable, but eventually, it is a part of the sum assured to you and is logical.

Sub Limits

The amount to be paid has sub-limits and other maximum caps which have to be kept in mind, so make sure you read about everything that is covered in your mediclaim insurance plan with IFFCO Tokio. There might be a pre and post-hospitalization advantage which might give you an edge, but you need to keep in mind the sub-limits which are defined in the base plan. There is always an imposition which can be because of the co-payment benefits and the sub-limit features. To make the most of a IFFCO Tokio health insurance policy, one needs to understand how the sub-limits in their own plan are calculated (ideally using a health insurance calculator) such that they can choose a proper hospital where the medical expenses will be taken care of by the insurance policy itself, in order to avoid spending out of the pocket in general. Most of the times, customers are in a rush to sign a mediclaim document, because of which they forget to read the terms and conditions which has the value and cap of the sub-limits. In instances like those where coverage is not provided and claims are rejected, they end up assuming that trusting an online health insurance plan was a bane than a boon. Save yourself from such hassles; read the offer documents and the policy coverage carefully, and always watch out for the sub-limits before buying a mediclaim policy.

Scope of Cover

Given that you have selected one of the affordable health insurance plans, do you know it may not cover all your illnesses? All health insurance plans do not offer total medical coverage and are restricted to specific diseases and conditions. Therefore, as a customer and insurance buyer, it is your responsibility to go through the complete list of diseases that are covered by your provider. If an insurance provider claims to provide the best health insurance plans in India, charges higher premiums for the same, yet gives ambiguous details of the policy coverage, steer clear. This ambiguous information can cause a lot of discomfort and inconvenience when the need to utilize your health insurance plan arises. At IFFCO Tokio, complete transparency in information is what we advocate.

Instead of just comparing the price before you buy an online health insurance policy, focus majorly on the coverage criteria. Look out for riders that are available to protect you further from different diseases such that you can afford treatment for any medical emergency that comes unannounced in your family. Be it cancer, heart attack, dialysis, or even anything along similar lines, staying covered is all that should matter; IFFCO Tokio does that for you.

Renewal of Health Insurance Policy

Gone are the days when you had to run from office to office, pillar to post to renew health insurance. It was a tedious task as such. Given that everyone is a workaholic these days, forgetting to pay the premium to keep your health insurance coverage active is not uncommon. If that is the case with you as well, it is time to go online. Most of the health insurance plans in India have now embraced the digital movement and are now available online, including us at IFFCO Tokio. So, if you want to renew an IFFCO Tokio policy, all you need to do is visit our website, key in your policy number with your email ID and password, fill in the details and make an online premium payment. It not only helps you stay updated with your plans, renewals, and amount to be paid but also keeps you on your toes. 

Learn in detail the various types of health insurance plans