Why Health Insurance?
A Ideal Health Insurance Policy Should Cover
1) Covers pre and post hospitalization expenses.
2) Have a huge network of hospitals for cashless settlements.
3) Coverage amount should increase in case of claim free years.
4) Should be renewable for life
5) Should NOT have limits on room rent, doctor or OPD charges, diseases and ailments.
6) Should have smooth and hassle-free claim settlement procedures.
How Much Cover Is Required?
The amount of coverage you require as a medical policy depends on a number of factors, mainly:
1) Demographic Factors: The city you live in and your lifestyle
2) Family Size and Age related medical condition.
3) Annual family income and expenditures.
4) Vital parameters and health factors.
One golden rule that can be followed broadly is:
100% of your annual income = Ideal health insurance cover
Types Of Health Policies
1) Individual Covers – Policy for one individual
2) Floater Policy – Policy for immediate family
3) Senior citizen policy - For Senior citizens only.
4) Extended Family Cover – Policy covering members of extended family even in-laws
5) Specialized Health Cover - To take care of specific illness like diabetes, cardiac etc.