This Diwali, Secure Your Family With The Right Health Insurance Cover, Here’s How To Choose One

Diwali heralds the festive season of giving and celebrating with our loved ones. So, this Diwali, consider a gift that goes beyond the traditional presents. Gift them the promise of a secure and healthy future by choosing the right health insurance policy for the family.

Since the pandemic, many of us have realised the importance of a family health insurance policy. It’s not just about the pandemic, rising healthcare costs and medical expenses have made it essential to have a health policy with a substantial cover. Often, people overlook it until a medical emergency wipes out their savings. A family health insurance policy ensures that your loved ones get maximum coverage, while still preserving your savings. But with so many options available, choosing the right one can be confusing.

So, here’s how you can choose the right health policy.

Why A Health Insurance Plan Is Important Before Diwali?

Each year, Diwali is marked by widespread use of firecrackers across the length and breadth of India. This leads to hazardous levels of air pollution, filling the air with particulate matter and a dangerous mix of poisonous gases, including nitrogen dioxide, carbon monoxide, ozone, and benzene.

Negative Impact of Pollution

Air pollution has led to a rise in chronic respiratory issues, such as asthma, lung disease, and acute coronary events. The most vulnerable groups include children, the elderly, and individuals with pre-existing respiratory problems.

Dangers Of Firecrackers

Bursting firecrackers pose the risk of accidents, leading to burns and severe injuries. In some cases, the impact is so severe that hospitalisation becomes necessary.

The Temptation And Health Risks Of Diwali Treats

Diwali brings not just the joy of sweets and festive delicacies, but also the challenge of resisting these tempting treats. Indulging in excessive sweets and fried foods can elevate the risk of diseases, even for those who are generally healthy.

Considering these factors, having sufficient health insurance becomes crucial. After all, healthcare expenses are the last thing you would want to worry about during the festive season. Here are key considerations when purchasing a health insurance policy:

• Opt for a higher sum assured.

• Check if it can be purchased online.

• Assess the coverage for various ailments.

• Look out for policies or riders covering critical illnesses.

• Evaluate the provider’s healthcare network considering options near your residence and workplace.

• Examine the extent of cashless hospitalisation available across the network.

Here are some tips to help you select the best health insurance for your family.

Choose The Appropriate Plan:

According to Naval Goel, founder and CEO, PolicyX.com, health insurers provide various policies like individual, family floater, and senior citizen health plans.

“Typically, policies cover pre and post-hospitalisation, room rent, daily allowance, ambulance charges, and cashless hospitalisation. Opt for a family floater plan to cover you, your spouse, and your children. Consider your needs, compare quotes, and check policy features, premiums, and hidden charges,” he says.

Check For Flexibility In Adding Members:

When getting a family floater plan, ensure the insurer allows adding new members. If the eldest member passes away, the remaining family members can still continue with the existing health insurance policy.

Examine Waiting Period: According to Goel, family floater health insurance typically covers pre-existing conditions, maternity benefits, and more, after a waiting period. So, when purchasing a policy, look into this waiting period, usually ranging from two to four years.

“During this time, hospitalisation won’t be covered. You have the option to cancel the policy if needed, so it’s wise to select one with the shortest waiting period,” he says.

Ensure Lifetime Renewal:

Lifetime renewability is crucial in family insurance plans. Forgetting to renew on time may cause lapses and loss of cumulative bonuses. Choosing a health insurance policy with lifetime renewability is advisable rather than having one that doesn’t provide that option.

Examine Room Rent Limit: Go for a policy with a higher room rent to avoid additional expenses. Depending on your chosen plan, you can access a private or a shared room.

Remember to consider these points while choosing a health insurance policy to provide the best healthcare cover for your family. This way, you can make a well-informed decision and avoid hassles during the claim process.