How to choose the best health insurance plans or policy? This is the million dollar question while we are on the verge of picking up an insurance plan before going ahead and signing the document. Let us put this topic in the simpler and understandable way. Before choosing a health insurance policy whether it is for an individual or for group it is always good to choose the insurance company first. The next good step would be to choose the best policy.
Best Health Insurance Plans
There are quite a lot of private insurance companies available in India than PSU insurance companies.
The private insurance companies in India include – Future Generali, Star Health, Apollo Munich, Reliance Health, IFFCO Tokyo, ICICI Lombard, Max Bupa, TATA AIG and Aviva India – these are all the private industry players.
Public Sector (Government) Health Insurance company list includes – LIC, United India, National, Oriental Insurance, The New India Assurance Co. are a few popularly available companies having health insurance policy covers.
Plans and policy details might be attractive but what has to be noted is choosing the best health insurance policy in terms of reimbursement of bills.
It is individuals need and flexibility that matters in choosing the best policy for them. For example if you are young and married looking for a better policy for your family you must look into certain basic criteria such as coverage for female when she becomes pregnant as these policies are a bit expensive than the usual hospital sickness policies.
When you go with PSUs like The New India Assurance Co or LIC the service may not be good comparing with private health insurance providers but all we need is the risk-free settlement which is good at these companies as per extensive feedbacks from policy holders and reviews. If you are and taken up a health insurance policy for a lower premium then it is better to gradually increase your cover to at least 5 lakh rupees (each) before you attain the age of 40, which is advisable.
Competitive policies comes out from private and government sector insurance companies in attractive names like Jeevan Arogya, Health Protection Plus, Mediclaim, etc but one must know their need and necessity of the plans they are opting for. In certain cases the claim might be repeated for the same illness if you are prone to any health issues already. Can these repeated claims for the same illness be approved by your policy? Choose wisely as no policy can be recommended in general as the best policy especially the Health Insurance Plans, as it depends from individual to individual.
Based on the review from policy holders and beneficiaries a few say that private insurance company and their policies are best based on their ailments and coverage plans but on the other end they say that though Public Sector Undertaking companies like Oriental Insurance or LIC are not so good or competitive with private sectors in terms of service and other related stuff the settlement and promptness are really good which is good for someone who needs trust.
Health Insurance Plans or policy can be chosen only after going through the terms and conditions of the policy with their distinctive features of the particular policy, waiting periods and other exclusions that differ from policy to policy and company to company. However, the rating star goes more in number to Public Sector Undertaking company’s health insurance policy schemes.