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How do I compare health insurance plans in India?

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30 Sep, 2021 by  Ridhima Kaur

In a digital era, every health insurance provider tries to trap the audience's mind by showing various types of attractive features like low premiums and high coverage benefits. It is very hard to compare and find good health insurance plans.

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Health Insurance

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30 Sep, 2021
Rohit Dhingra

Two ways to compare the plans


Option 1: DIY Approach. Draw a table for comparison, read policy wording & do apple to apple comparison.


Option 2: Reach out to a good advisor who could help you with this.


There is another option i.e. on some aggregator websites one can see comparisons however they are not very accurate and lack detail.


Thnx

Rohit Dhingra


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01 Oct, 2021

Hi Ridhima,


There are a few steps as to how you can choose the best possible option for your family.


Compare the types of health insurance plans: go through the summary of different plans to find the one that meets your concerns. Do not get confused by all the marketplace jargon. Make sure all your needs are covered and there is a high sum insured.


Compare the network: check how big the cashless hospital network is - the bigger the network, the easier it would be for you to find a hospital nearby during emergencies. Tally the out-of-pocket costs - if you have gone through some of the summaries, you would know that they mention the expenses that you will have to pay outside the plan. You would want to invest in the lowest priced premiums, but make sure you are not compromising on coverage. Look out specifically for room rent limits, sub-limits, copays mentioned against treatment types, diseases, or category of expenses.


Consider your specific needs: while narrowing your options, make sure that the plan suits your individualistic health concerns and syncs in with your lifestyle. For instance, if you take a certain medication, make sure to customize your insurance accordingly.


COVID-19: although all health insurance plans now cover coronavirus treatments, a lot of them have limits on them. Make sure you get a plan that can cover coronavirus treatment bills through & through. Vital’s health plan covers covid-19 related hospitalization with no sub-limits, it also covers the cost of PPE Kit, etc.


Additional benefits: these are good to have but make sure they are not just fluff but benefits you will use. Vital’s health plan includes essential health benefits like doctor consultations, pharmacy, full-body health checkups, and much more.


I hope this answer can help you.


Regards,

Jayan Mathews

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