Compare Health Insurance Plans
  • Why compare health insurance?
  • Comparing health insurance online
  • Things to consider while comparing
Compare Health Insurance Plans
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How to Compare Health Insurance

A health insurance advisor of a reputed health insurance company dialed Rahul (a possible policyholder) and explained everything about a certain health insurance policy. The policy fulfils all his requirements. But, he told the advisor, "I will get back to you after making a decision" at the end of the call.

What do you think Rahul will do now?

The reason is that now he will check out other policies and compare them to choose the best for him and his loved ones. Mostly, he wants to know what policy gives him the best & most comprehensive plans at the lowest premium rates.

This article will tell what, why, how, and the benefits of comparing health insurance policies. But first, let us learn about health insurance.

What is Health Insurance Policy?

The concept of health insurance can be tricky, let's make it simple for you to understand - health insurance is a must-have investment for every person today, why? As it secures you as well as your family from any medical care expense in the future. Also, it makes sure that you will get access to the best medical facilities like hospitalization expenses, doctor consultations, daycare procedures, and other medical bills, that are almost impossible to bear without the best health insurance plan. But before buying a health insurance plan, it is necessary to compare them all. Have a look at why it is necessary to compare insurance plans before buying them.

Why Compare Health Insurance Plans?

There might be various reasons for comparing health insurance plans. Some important reasons are given below., so let's have a look at them together:

  • To Ensure Adequate Coverage

    It is truly believed that one type of insurance is not fit for everyone. Comparing differing insurance gives you the knowledge to get to know about the perfect insurance plan for you.
  • Manages Cost Effectively

    Healthcare costs can be a financial burden on anyone. To get maximum value at minimum cost, comparing health insurance plans gives you a clear vision of the possible premiums, deductibles and other such expenditures.
  • Understand the Policy Terms and Conditions

    Once you start comparing different health insurance policies, you will know the different terms and conditions of various policies and which one will prove to be of the most value. It allows you to check the details, making sure that you understand the limitations, waiting period, and any other vital terms and conditions.
  • Exploring Additional Benefits

    When you look for different policies and start comparing them, you will get to know that there will be many additional benefits that vary from one insurer to another. Comparing plans allows you to identify and choose the one that can align with your lifestyle and provides added value to your standard coverage.
  • Customize Your Coverage

    Everyone does not require the same level of coverage. If you have pre-existing conditions, or planning a family, or might be having any unique healthcare requirements, the ability to customize your coverage ensures you get the most value out of your insurance plan.
  • Taking Advantage of Network Coverage

    Health insurance plans come with a network of healthcare providers. Comparing plans allows you to access the coverage, opting for in-network services can lead to lower costs.
  • Preparing for Life Changes

    Our healthcare needs may change over time when you compare several health insurance plans. You are making informed choices about your whole life.

Benefits of Comparing Health Insurance Plans Online

Online platforms provide several benefits for a lot of things. Comparing health insurance policies is one of them. You can check with the experts at Policyx for suitable comparison ideas. Furthermore, you can read below to know what these benefits are.

  • Free Quotations

    You can do unlimited surfing on the internet while comparing the plans. Free quotes are available on Policyx.com where you can compare plans and choose the best one for you.
  • Convenience

    Isn't it comfortable to scroll your phone while sitting on the couch? Yes, it is very convenient to check out the features and quotes of a health insurance policy online on your suitable devices.
  • Be in Command

    Comparing health insurance plans online can keep things in command. You can go through different policies, inclusions, and exclusions, to find the best match.
  • Value for Money

    Value for money is about finding the right balance between your requirements and whatever they are offering. Comparing the plans helps you achieve this balance.
  • Peace of Mind

    When we are comparing online, there is no hassle of talking to anyone. Comparing health insurance policies online involves a lot of browsing through various plans, at your convenient time.
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Check Health Insurance Premium

How to Compare Different Medical Plans in India?

Mainly, there are two ways to compare health insurance policies. Either, you can opt for the confusing offline process of visiting the office of the insurer, meeting agents, and talking to the policy insurer. Another option is the smart option, choosing the online option. Follow these steps to get the best result.

  • Step-1

    Visit the website of your health insurer or simply visit PolicyX.com

  • Step-2

    Click on the button that says, "buy insurance" to start up the process.

  • Step-3

    Share your basic details like age, gender, name, and phone number.

  • Step-4

    Select the sum insured. And include additional covers if required.

  • Step-5

    Here you go, note down the health insurance quote charged for the insurance coverage and services.

Follow these steps across all the potential insurers. In the end, you will have strong data to make an informed decision.

Health Insurer Network Hospitals

Factors We Need to Check While Comparing Health Insurance Policies

There can be many factors that influence our choices in decision-making. You need to keep a check on these factors while making informed decisions and comparing health insurance policies. We have listed some of the factors for your brief knowledge. You can have a look.

  • Sum Insured

    The Sum Insured is the maximum amount that your insurer covers for you. Always remember that a policy with a low premium might offer a lower sum insured. You should have an adequate SI to get maximum financial assistance in time of need.
  • Coverage

    Coverage is more than the Sum Insured. It is about the inclusions and exclusions of the company. Check about the coverage options by the insurance provider, and get maximum coverage.
  • Understand your Requirements

    You need to understand your requirements as well. Evaluate your health, coverage needed for pre-existing conditions, and much more.
  • Look for the Insurer

    Check for a reputable insurer in India that provides health insurance policies. You can research online, seek help from friends and family, and then choose the best.
  • Network Hospitals

    Look out for the insurer that has a long list of the network hospitals. which includes prominent medical facilities. You can check network hospitals at Policyx.com and make an informed choice.
  • Waiting Period

    Not every insurance provider give coverage against all illness from day one. In some cases, you need to wait a certain period to be eligible to raise a claim against any illness. So, you need to check the waiting period of the policy to avoid claim rejection in the future.
  • Sub-Limits

    There might be some sub-limits on some coverages. So, you need to look out for the policies with no sub-limits.
  • Co-Pay Clause

    If there is any co-pay clause in your policy, then you have to contribute towards the claim settlement. A co-pay clause reduces the policy premium as the claim settlement is going to be shared between your insurer and you.

Conclusion

Choosing the right health insurance plan is a major financial decision. It is a strategic investment in health and wellness that provides coverage against your medical expenses. Having the right medical insurance will safeguard you and your family in tough times. Remember the right decision can save a lot of your efforts and finances in the future. So do not hurry! Take your time to access and choose the right plan that will make sure that will save you from any healthcare challenges.

How to Compare Health Insurance Policies?: FAQ's

1. How often should I review my health insurance policy?

You must review health insurance plans regularly, especially during life changes or open enrollment periods.

2. What is the importance of network coverage in health insurance policy?

Staying within the network coverage results in cashless treatments and lesser out-of-pocket medical expenditure.

3. Are all the pre-existing conditions covered in the health insurance policy?

Mostly insurance providers do not cover pre-existing conditions and diseases. But, to safeguard you, they will put a waiting period on such diseases. So, you can avail the claim benefits of these diseases.

4. How to compare the best health insurance plans?

Look out for all the factors that you must consider while comparing health insurance policies.

5. Where can I compare health insurance plans?

You can visit Policyx.com to compare the best health insurance plans.

6. Do I need a premium calculator while comparing health insurance plans?

Yes, you need a premium calculator while comparing the health insurance plan. At Policyx.com you can get a premium calculator.

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Simran saxena

Written By: Simran Saxena

An explorer and a curious person, Simran has worked in the field of insurance for more than 3 years. Travelling and writing are her only passion and hobby. Her main agenda is to transform insurance information into a piece that is easy to understand and seamlessly solves the reader’s query.