How does it work? All health insurance are not created equal, but major concept behind how they work remains same 1. When you get sick… 4. Provider reimburses your doctor 2. You visit your doctor. You pay the bill or decide to pay using your health insurance. 3. Doctor bills your Insurance provider
How to Buy Health Insurance in India Offline Mode Online Mode Direct from General Insurance Companies website Directly from General insurance Companies Authorized Intermediates like Insurance agents or Insurance Brokers Through Intermediately website
Tips on Buying Life Insurance • Do a thorough need analysis • The younger you are, the more choices you have • Two is better than One • Compare before you buy • History of Company
Do a thorough need analysis To find a health insurance you need to do a through analysis on understanding your needs. Few point to keep in mind during analysis • The number of family members you want to cover. • The city where you live, and where you need to take hospitalization treatment. • Keep long-term plans in mind for instance if any of your family member is planning to migrate abroad etc.?
The younger you are, more choices you have • The younger you are, more the products that provide health insurance. • As the age increases the number of choices reduces so does their benefits. • It is best recommended to start when you don’t need it. This way you can choose a product that can benefit you and your family members together.
Two is better than One • Most of the Health insurance companies provide group or family insurance benefits. • This way you can secure both yourself and family members together. • You also get additional benefit of saving money using family insurance.
Compare before you buy • Comparing helps choose different product and their benefits. • Previously comparing various products was time consuming and troublesome but today you can do it from your home from sources such as • www.policybazaar.com • www.paisabazaar.com • www.policymagic.co.in
History of the Company • Older companies which has more experience in health insurance field provide best facility. • Before you take a insurance form a company in make sure to check its popularity, how trusted it is. • Here are few list of companies which are the most trusted once in India. • www.aegonreligare.com • www.licindia.com • www.icicilombard.com • www.avivaindia.com • www.metlife.co.in • www.bajajallianz.com
Other point you need to remember • Understand Day wise Cash limit Health Products. • How much amount is insured in case of emergency. • Credibility, Check. Look at the history of the company. • Products for older age/Senior Citizen family members. • Ensure you have a Good Advisor