The Forbes Advisor India assessment considered the following key factors that help consumers decide whether to choose a particular health policy: Based on these parameters, we ranked these best health insurance plans.
Total insurance amount (20% of score): While analyzing the above plans, we first looked at the coverage they provide. Choose the total insurance amount according to the needs of yourself and your family. Do not choose a policy that offers more coverage than you need, as premiums will be higher. Focus on customizing your plan by choosing different riders according to your requirements.
Hospital network (30% of score): It’s always good to see if an insurance company has an extensive list of network hospitals. You can find this information on the official websites of these insurance companies. These network hospitals provide cashless hospitalization services that do not require the insured to pay hospital invoices. And always check those network hospitals near you.
Sublimit and co-payment (10% of score): Health policy with no sub-limits on hospital room rent and out-of-pocket clauses is also an important factor in considering health policy. We carefully analyzed the terms and restrictions of each of these plans and mentioned whether such restrictions existed and whether the plans had any restrictions.
Claim settlement rate (20% of score): This is a very important factor. The only reason an insured purchases an insurance policy is to expect a quick claim settlement process in the event of unfortunate circumstances. Higher percentages indicate that the company is steadily working to resolve the claim.
Waiting period (10% of score): This is also a very important parameter, as the insured will not be able to activate the policy if the wait period has not been completed. However, these wait periods are inevitable. Therefore, you can find plans with a relatively short period of time.
Benefits of add-ons (10% of score): Health insurance offers a variety of optional benefits such as international insurance, childbirth insurance, personal injury insurance, serious illness insurance, daily hospital cash, long-term insurance discounts, flexible total guarantee options, and cumulative bonuses. Always select these. Benefits according to your needs that can provide additional security in addition to your regular health plan at a fairly affordable price.
Buying health insurance is an important decision, and if you’re not sure how to choose the best insurance for you, keep the above in mind and choose the best health insurance to avoid mistakes.
