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Questions to Ask before Buying Health Insurance

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The health insurance market in India is very big. Healthcare in India can be quite expensive and not having health insurance can burn a hole in your pocket. There is no dearth of options when it comes to health insurance policies in India. Choosing the right policy among so many options can be quite overwhelming and confusing. The right way to choose the suitable health insurance policy is to make a checklist of your own and move accordingly.

In this article, we will deal with some of the important questions that you need to ask before buying a health insurance policy.

  1. What do you want?

    Before anything, it is important to determine what is it that you are looking for from your health insurance policy. Once you know what you want from your health insurance policy, it will easier to check off all the requirements.

  2. What type of plan is it?

    Find out what kind of plan it is. Some health insurance plans like critical illness health insurance plans offer cover only for certain critical illness mentioned in the plan. Plans like indemnity plans, pay only for a certain percentage of the medical cost whereas the rest is borne by the insured. It does not make sense to go for a regular health insurance plan if you only want cover for critical illness. So it is important to find out what type of plan is offered.

  3. What is the claim settlement ratio?

    Claim settlement history of a company can tell a lot about the company. The claim settlement ratio of the company will give a clearer picture of how it has treated its customers in the past and if it stands true to its claims. The higher the claim settlement ratio, more trustworthy the company.

  4. How big is their network?

    Another important question that will decide the best health insurance for you is if the company providing health insurance to you has a good network (branches easily accessible to you). It is going to be really helpful if there is a branch located near you in times of emergencies.

  5. How much do I have to contribute?

    While most of the insurance companies pay for the medical charges, there are some companies that will ask you to pay a portion of the medical expense. This policy is called co-pay where in the insured contributes a certain amount. It is important to clear it out with the bank if you have no intention of opting for a co-pay option in your health insurance policy.

  6. What does the plan cover?

    A plan cover includes all the ailments and conditions that the policy offers to pay for. The cover of a health insurance policy is decided by the bank. While some banks offer cover only for accidental injuries, surgeries, there are other plans that offer cover for critical illness, ambulance charges, prescription medicine charges and other medical expenses. It is important to find out if the plan offers the right cover for you.

  7. Does the plan offer cashless facility?

    Cashless facility is a benefit provided by most of the health insurance plans. If you have cashless facility with your health insurance, you don’t have to run back and forth for money in the time of a medical emergency as the health insurance company will directly pay the hospital. It is wiser to opt for a health insurance policy with a cashless facility.

  8. Are routine examinations covered?

    Routine examinations are very important and should be done every once in a while but it can cost quite a bomb if there are many tests involved. A health insurance policy that offers routine examination cover will save you a lot of money.

  9. Does the plan offer any special benefits?

    Some health insurance companies offer special benefits such as cover for dental care, eye care and other conditions. Check with your insurance company before you buy the policy for special benefits.

  10. Are pre-existing conditions covered?

    Many a time people make the mistake of assuming that their health insurance policy covers pre-existing conditions and this mistake can cost them a lot when they realise that it doesn’t. Most of the insurance policies don’t cover pre-existing conditions.

  11. 11How long do I have to wait?

    There is something called waiting period on health insurance policies. Waiting period is the period for which you will have to wait before the policy is activated. You can’t utilize the policy right away, hence, it is important to choose a policy with a short waiting period.

  12. What are the out of the pocket costs?

    There will be a lot of out of the pocket costs when it comes to a health insurance policy. Deductible, co-pay, co-insurance and out of pocket maximum. It is important to estimate all the costs before selecting a health insurance policy to buy the one that best suits your needs.

  13. Check out our Infographic on Questions to Ask while buying Health Insurance Policy:

    Questions to ask before buying health insurance

GST rate of 18% applicable for all financial services effective July 1, 2017.

Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

Questions to Ask before Buying Health Insurance Reviews

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  • Apollo Munich Health Insurance
    "Its best insurance for the health"
    0.5 5.0/5 "Blown Away!"
    The claim is easy they approve everything I heard lots of customer using it, the customer support is good they gave me the policy document on time. They gave me Rs. 10 lakhs of medical cover, they have tie up with all the major hospitals like fortis, apollo. They have cash less treatment.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 14, 2018
  • Bajaj Allianz Health Insurance
    "Good Doctor for Health"
    0.5 5.0/5 "Blown Away!"
    My medical policy belongs to Bajaj Allianz, I am working same company hence they gave me best benefits. They do have pre existing disease they got tie up major hospitals, they have helpline of 24/7, the medical value around Rs. 5 lakhs for my entire family.
    Was this review helpful? 0
    , pune
    Reviewed on Dec 14, 2018
  • Future Generali Health Insurance
    "Good and effective policy"
    0.5 5.0/5 "Blown Away!"
    Its a family floater policy. They have given me a coverage amount of Rs. 2 lakhs. The policy has been given by my company. I have gone through the hospital list and many of the hospitals are listed in the cashless treatment facility. My total family has been covered by this policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 14, 2018
  • Apollo Munich Health Insurance
    "Good for health "
    0.5 5.0/5 "Blown Away!"
    I have medical policy for the coverage around Rs. 5 lakhs, they do have pre existing disease cover. The process generation is quick, they send the insurance card with the list of hospitals details. I am very fine with Apollo Munich health benefits.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 14, 2018
  • Star Health Health Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    I have personal health policy with Star Health, the process was smooth, the premium is economical. They have generated the policy without any hassles, I took family policy for Rs. 5 lakhs. They have cash less facility but they don't have pre existing disease cover. They got tie up with many hospitals.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 13, 2018
  • HDFC Ergo Health Insurance
    "Every must need this policy for future"
    0.5 5.0/5 "Blown Away!"
    My health insurance policy was taken with HDFC Ergo. They have provided me a coverage amount of RS. 8 lakhs. I have to pay the premium amount of Rs. 6000 for 4 years till my loan tenure period. When i purchase the loan, they have given this policy. I have not claimed anything from this policy. The hospital list was fine.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Dec 13, 2018
  • HDFC Ergo Health Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken Health insurance from Hdfc ergo insurance . Am satisfied with the premium amount which am making the payment yearly . This policy gives good coverage with cashless hospitalization and pre disease cover . Even they have given network list of hospitals .Overall am satisfied with the service
    Was this review helpful? 2
    , faridabad
    Reviewed on Dec 13, 2018
  • National Insurance Health Insurance
    "Good for emergency purpose"
    0.5 5.0/5 "Blown Away!"
    The medical claim around Rs. 5 lakhs, its for my entire family. I used this policy for my father bypass surgery, it was cash less in Asian heart hospital the taken 6 to 7 days to settle 100% of claim. It covers major and minor disease it was corporate plan.
    Was this review helpful? 0
    , mumbai
    Reviewed on Dec 13, 2018
  • ICICI Lombard Health Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I have a health insurance policy with ICICI LOMBARD from last 2 months, there was no claim experience so far with this insurance policy. I am not aware of the premium amount as my company pays it. I have a coverage value of Rs 1 lac for this insurance.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 13, 2018
  • Star Health Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my health insurance with Star health & allied insurance from past one year, they have explain me the policy benefit, and they have tie up with many hospital and they have shared me location as well, and the premium amount they have charged me up to 5000 it is nominal and they charge premium on yearly basis.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 12, 2018
  • Apollo Munich Health Insurance
    "Best Policy"
    0.5 5.0/5 "Blown Away!"
    I have taken health insurance from Apollo munich . Am satisfied with the premium amount which am making the payment . This policy covers cashless hospitalization . They have given the network list of hospital . Overall am satisfied with the policy.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 12, 2018
  • SBI General Health Insurance
    "Yet to claim the policy"
    0.5 3.0/5 "Satisfactory"
    Total coverage of my medical policy is 2 lakhs. I have purchased a health insurance with SBI General. I make the premium amount of Rs. 9000. Most of the hospitals are covered in all the prime location. I had no claim experience with this policy. Me & my wife are covered in this policy.
    Was this review helpful? 0
    , guwahati
    Reviewed on Dec 12, 2018
  • Apollo Munich Health Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I am having a health insurance policy with Apollo Munich from last 3 years, i am not aware of the premium amount as my company pays it. There was no claim experience so far with this insurance policy. This policy has a coverage value of Rs 5 lacs.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 11, 2018
  • HDFC Ergo Health Insurance
    "Good health insurance policy"
    0.5 3.0/5 "Satisfactory"
    I have purchased a policy for my family and i bought the policy from HDFC Ergo. I have paid the premium amount of Rs. 13650 yearly once. I have received a coverage amount upto Rs. 3 lakhs. This policy covers for me and my wife. The hospital list was fine. I had no claim experience with HDFC Ergo.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 11, 2018
  • Star Health Health Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my health insurance with Star health insurance,there premium they charge is nominal only i use to pay my premium amount on monthly bases and it use to get auto debited with my bank account and they have explain me all policy which is cover in this policy clearly, till now i did not face any issue with this insurance.
    Was this review helpful? 1
    , indore
    Reviewed on Dec 11, 2018
  • Reliance General Health Insurance
    "Better Policy for health"
    0.5 3.0/5 "Satisfactory"
    I don't know about the features of my health policy which provided provided by company, total mediclaim value of Rs. 3 lakhs, it covers for 4 persons. I have received the medical cover, but I didn't interact with the customer support of Reliance. They have not done the medical test. The premium is low for one year.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Dec 11, 2018
  • Royal Sundaram Health Insurance
    "No claim experience with Royal Sundaram"
    0.5 5.0/5 "Blown Away!"
    1 year back i have purchased the health insurance policy with Royal Sundaram and last month i have renewed the policy. They have given me a coverage value of 5 lakhs and they are providing the cashless treatment facility. I have received the no claim bonus.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 11, 2018
  • ICICI Lombard Health Insurance
    "Best health insurance policy"
    0.5 5.0/5 "Blown Away!"
    I'm holding the health insurance policy with ICICI Lombard and i have selected this company because of the services. I can get the cashless treatment facility. I have purchased this policy for myself and my wife. They have given me a coverage amount of Rs. 3 lakhs. I have been paying the premium amount of Rs. 6000 approximately.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 11, 2018
  • National Insurance Health Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    I have the mediclaim policy with National Insurance for the cover of Rs. 3 lakhs they have major and minor hospitals tie up, they gave me list of hospitals, policy duration is good. There is no pre existing or critical illness cover. They have cover for major diseases, the premium is low with best benefits.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 11, 2018
  • ICICI Lombard Health Insurance
    "Economical policy"
    0.5 4.0/5 "Great!"
    I have a health insurance policy with ICICI Lombard. It is a individual policy. The medical coverage is for ten lakhs and the premium is also economical for me. It is of 510 on a monthly basis. There are cashless facility too. Fortunately I have used it till date.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 11, 2018
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