Three Things to Confirm Before Buying Health Insurance Policy

Buying health insurance is more of a necessity than an option. The annual premium paid towards a health insurance policy may appear to be an extravaganza, but its significance is realized when you come across an unforeseen expenditure related to health care.
Given the rising cost of quality health care in India, health insurance coverage has become an imperative for everyone. At the same time, a number of health insurance service providers have launched various products in the market. Sometimes it becomes very difficult to decide on the policy you actually require. There are chances that you end up buying one which does not meet your expectations in the future and get you into a zone of disappointment.
Here are the three important aspects you should consider for making an informed decision.
Extent of coverage:Health insurance policies come with various features. Some of them are basic and some are optional, often termed as riders. While you shall consider riders depending on your personal preferences, the extent of basic coverage is something you must know. This shall include: what all diseases are covered; what is the amount of coverage; and what kind of disorders and medical conditions are excluded.
You may also ask whether the policy is applicable in case of health problems caused due to natural disasters such as cyclones, floods, earthquake, drought, etc. If you often visit foreign countries or are planning to visit one soon, then you must ask about the possibilities of clubbing it up with foreign health insurance coverage.
Network of cities:It is very important to note how many cities a health insurance service provider has a presence in. If you are in a transferable job or travel more frequently, then the service provider must have a network in those cities. Many times, it has been seen that there some insurance companies have a strong presence and brand image in a particular region, but beyond that, they have no presence or a thin level of presence, which does not work many times.
Also, it is worthwhile to confirm if the rates, including hospital room rent and other applicable medical cost, differ from cities to cities. This aspect holds water due to the fact that the cost of health care differs in tier I, II, III and other cities and towns.
Procedure of claim:What is the procedure of mediclaim in case of both planned and sudden hospitalization? Whether you can go for a completely cashless mode or claim reimbursement afterwards? What is the point 0f contact? How much time it takes to get approval for cashless treatment and how much time it takes in case of reimbursements? These are some of the major questions you must ask before buying a medical insurance policy.
While there are several other aspects, these are the primary factors which you must confirm before buying a policy.