2020 has been an eye-opener for all of us due to COVID. It has shown us that no matter how healthy your lifestyle, you can still be sick and get admitted to a hospital. So, being prepared is the only smart way available for you.
Having a Medical Insurance Policy is a necessity now due to the continuous rise in medical expenses. Trying to pay hospital bills from your saved money can take a serious toll on your savings. Several families have lost their entire accumulated wealth for clearing medical dues. So, plan right, and buy the right medical insurance.
What is medical insurance?
Medical insurance plans are coverages that you can buy from health insurance providers to cover your medical expenses in case of an emergency or for regular check-ups. Medical insurance can either reimburse you for your medical expenses, or you can undergo cashless treatments by just showing your Mediclaim policy card. The medical insurance plans cover medical expenses such as treatments, hospitalization, surgeries, regular check-ups, medicine cost, etc.
How can you buy medical insurance?
You can buy a Mediclaim policy directly from the health insurer’s website. Visit Adityabirlacapital, choose the plan that is the best suitable for you and purchase it. The premium can be paid in lump-sum or at regular intervals based on your convenience. There are several individual and family medical insurance plans that you can choose from. But before choosing a plan, calculate the total coverage that you think will suffice for any kind of medical emergency for you and your family. It is seen that most individuals end up buying lesser Mediclaim policy coverage than is required for them. So, buying sufficient coverage is vital for your financial safety.
Choosing the right medical insurance plan for your loved ones
You must have grown up seeing your parents doing so much hard work, but now at times, you see that one of them is not keeping well. They who used to multitask now get tired easily. These all are indications that parents are getting old. As they age, they need proper medical care and attention. So, choosing the right medical insurance for your parents and other dependents is vital.
Points to remember while choosing the right medical insurance plan
- Coverage of the medical insurance plan
Medical insurance plans can be bought separately for individuals, or you can buy family medical insurance. The entire coverage in family medical insurance can be used by any family member. So, if individually, you were planning to buy a Mediclaim policy of 2 lacs, then for the family, you can get coverage of say 5 lacs and the whole family will come under that coverage. So, if any member of the family is admitted to a hospital, they can use the entire coverage of 5 lacs, which is always better than 2 lacs individual cover. The premium for family medical insurance is cheap as compared to buying separate medical insurances for each member.
- Tenure of the claim settlement process
You need to check the records of the health insurance provider and see whether they are prompt in settling Health Insurance Claims. If you see that they delay the settlement process and don’t cover all the expenses, you should choose a medical insurance provider whose claim settlement process is fast and accurate.
- Availability of customer service
Emergency doesn’t come with a knock. You can face an emergency at any time. So, you need to see whether the customer service is prompt and effective. Check whether they can guide you with the process for a quick claim settlement.
Medical insurance is vital in today’s world. As the new strain of COVID has started spreading, you need to stay prepared. Buy the right medical insurance policy and protect your loved ones.