Picking a health insurance company that checks off all the boxes for your medical and financial needs can be challenging. Given what huge financial undertaking insurance is, along with its implications on your health, it is essential that you take your time to make a choice. To make the best decision possible and find the best health insurance company in India for you and your family, consider the points mentioned below into account.
Good Credentials
First and foremost, you must do background research on the company that you are shortlisting. Good credentials entail their reputation in the industry as well as customer reviews. It is vital that you find a health insurance plan that achieves a balance between the two and not just one or the other. An added advantage of good credentials is that the company is more likely to have tie-ups or affiliations with better health institutions. Hence, giving you and your family better health treatment.
No Claim Bonus
When you purchase a health insurance plan, there is a very high chance that you will not avail of its benefits or services every year. However, this does not mean you can stop paying the premium. Therefore, to reward their customers, certain companies have no claim bonuses. This means that in case you have not claimed anything in a year, then you get a bonus for it. Although this does not compensate for all the premium you have paid through the year, however, it is a lump sum amount of cash that can come in handy.
High Claim Settlement Ratio
A claim settlement ratio means the number of claims settled by the health insurance company upon the
Total claims received. It is an indicator of what the chances are of you getting your sum insured in case of a medical cause. Choosing an insurance company with high claim to settlement ratios is non-negotiable when it comes to picking a policy. The best health insurance companies in India have a high ratio as it helps you optimise the premium you pay monthly.
Network Hospital Coverage
Finalizing an insurance company that offers you the feature of network hospital coverage is an important consideration when buying a health policy. Network hospital coverage means that the company has ties with hospitals and other health institutions. So, you can directly go to those branches for treatment without having to look for a facility. An insurance company with good medical providers is often a saving grace for people in times of a medical crisis. This is because it saves you the trouble of looking for one and you can simply avail of top-notch services without any hassle.
Given how much significance a health insurance has on your future, both in terms of physical and financial health, it is imperative that you take your time when making a choice. To see which is the best health insurance company in India, see if your shortlisted providers offer the aforementioned features. To sort out any inquiries, contact an insurance expert so you can make a sound financial decision.
