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The following post is a sponsored post.
This New Year’s, your resolution may vary from quitting smoking, shedding some pounds, earning more money or finding the love of your life. Nowhere among these does health insurance fit, it’s not the most sought after New Year’s resolution but a necessary one. As soon as you notice the stupendous increase in the cost of health care, you may want to save up for health insurance. You need this insurance because any illness or accident may occur anytime and a health insurance is the only source that is going to save you from a hefty medical bill. Following are some medical insurance plans you need to focus on this year –
Don’t have a bad attitude about health insurance and think that it’s not required at the current moment and you may invest in it later. Purchase a basic health insurance as soon as possible, buying health insurance at an early age results in less insurance paid compared to when you’re older. Starting early will help you jump over age related restrictions that are required and it will result in fewer premiums paid.
Initiate the process by asking yourself ‘How much cover do I need?’ This is essential due to the rising medical costs calculating the right sum needed saves a lot of money. While evaluating keep in mind to consider factors such as age, pre-existing diseases, gender, individual’s medical history etc. These factors will assist you in determining the right amount required for you and your family.
Always research about the policies and consider all the options available, be an informed customer. Make it a habit to learn about every aspect of the product such as claims process, exclusives and inclusive, long-term benefits, co-payment etc. It is extremely vital to learn about the varied options available in the market.
Beware of cheap products
There will always be a company offering health insurance at a cheaper rate, however though the cheapest is not always the best. There will definitely be some hidden anomalies that are not revealed, you’ve to identify that. Be smart and always know the ‘catch’ in cheaper policies.
Rely on transparency
Your end goal of applying for a health insurance policy is to avail the claimed amount during need. For this to happen you’ve to be completely honest with the company about all of your information including medical background and pre-existing diseases. Ensure that there are no loopholes and everything is transparent. If the company finds that you’ve been misguiding them in certain aspects, you may end up losing your health insurance policy for good.
There are several companies offering health insurance policies in India. Opt for one by following the aforementioned pointers.
About HDFC Health:
HDFC Health is an initiative by HDFC Life, a life insurance company in India to help increase awareness, spread knowledge and enshroud myths surrounding the health insurance sector in India. As a wholly owned subsidiary of HDFC Life, HDFC Health offers health insurance policies in India that cover individual, family floater, critical illness and cancer care insurance plans.
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.