Tips to help you pick the best health insurance plan in India


27 Jul 2023

Choose the best health insurance plan in India with the help of Kotak Health Insurance. Our blog provides tips to make an informed decision and protect your health.

Over the past few years, there has been a positive change in the mindset of most Indians about the necessity of health insurance. With the ever-increasing cost of medical care, not having a health insurance plan can burn a big hole in your pocket. While more and more people are opting for health insurance, it is very important to choose the right plan. One size fits all may not be the right approach to follow. Here are some vital tips that can help you avoid any confusion when buying a health insurance plan.

1. Understand the types of policies available:

There are many things about a health plan that you may find confusing, so the first step to choosing the right plan is to understand how different types of health insurance plans work. Research enough to comprehend the differences between family floaters, individual plans, critical illness fixed benefits etc.

2. Buy health insurance as early as possible:

Buying health insurance should be one of the first things you do when you start earning. You are in a better position to get more coverage, as you are young and healthy. Also, serving the waiting period can be easier at a younger age, when you are less susceptible to illnesses.

3. Choose the right coverage and benefits:

You need to look for features and benefits that suit you the most. Choose a plan that covers maximum illnesses and covers as many hospital expenses as possible.

4. Keep the premiums affordable:

While everyone prefers comprehensive coverage, remember that more coverage means more premiums. Do not go overboard and choose a premium that you easily pay.

5. Try opting for longer tenures:

You can expect good discounts when you buy/ renew your health insurance plan for a longer duration that may go up to 3 or 5 years. This way, you not only lock the premium for the entire duration but also get a discount for the same, along with overcoming the chance of lapsing the plan.

6. Lifelong renewals are beneficial:

As you grow older, choices for health insurance may narrow down, thus policies with lifelong renewal will help you stay covered for as long as you live. Also, once you have a policy make sure you renew it on time and do not lose out on the renewal benefits.

7. Try opting for a health insurance plan with a wider network of hospitals:

Medical emergencies can strike anywhere, and with a wider network of hospitals, you can ensure that you are never away from good quality treatment.

8. Do not ignore the claim procedures:

Try doing thorough research about the turn-around time and claim settlement procedure of the company. It would help you gauge its approach when it comes to settling claims. Try choosing a customer-friendly company with an easy claim procedure.

9. Read the finer prints:

Reading the policy documents may seem tedious, but it is imperative that you do. Understand the limits, sub-limits, co-payments, exclusions etc.

10. Compare policies before you make a decision:

There are numerous ways to compare different health insurance policies online. Analyse the features, coverage and cost before you pick a plan.

A health insurance policy is an important financial decision. Make sure to spend time and effort choosing the right plan.

Why is health insurance important?

Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.