When medical emergencies strike, beyond mental and physical strain, you will also be affected with monetary losses. The minimum thing you’ll be able to do is to be ready for these emergencies. Financial Planning Simplified provides health insurance policy in Mathikere that helps you to overcome this hassle. It includes all-inclusive insurance policy that pays your hospital bills, offers a no-claims bonus, rewards you for staying healthy, offers discounts on premium… the list simply goes on.
Due to modernized habits and unhealthy food culture, several people are getting ill and hospitalized. High hospital bills are nightmare and ruin your financials status. Here insurance plans in Bangalore will protect you from the monetary loss and helps you to avoid financial crisis. Financial Planning Simplified comes up with health insurance having unique features in Bangalore.
Points to remember before choosing a health insurance planHere we are giving some key tips to remember before choosing a health insurance in Bangalore.
- Check with premium amount of your health insurance plan and choose according to your budget. Financial Planning Simplified provides health insurance in Bangalore within a competitive premium charge.
- You should choose the policy with higher no-claim bonus. It will help in reduction of premium charge.
- Always choose the health insurance plan with lowest waiting period for pre-existing medical conditions. If the waiting period is low, then the plan is good.
- Also check with the waiting period for particular diseases and ensure that the waiting period is low.
- Ensure that the health insurance plan you chose have the highest claim settlement ratio, so that the chance of settling your future claims by the insurance company becomes higher.
- Choose an insurance policy that gives you coverage for maximum age limit.
- Check whether the insurance agency have a wide network and connections with renowned hospitals in the city. Financial Planning Simplified has a huge network with almost all hospitals in Bangalore.
- Choose the health insurance plan which offers coverage for critical illness.
Need for health insuranceIf you are from a middle class family, you have to save a large percentage of your income to meet the needs of today and future. Medical emergencies may put you in financial crisis and nowadays the hospitalization charges are taking a leap. If you rely on monthly or yearly budgeting, believe savings for your kid education or your retirement then you need to take insurance. In case if you take insurance coverage for health by your management (by own or insurance policy issued by any authorized Insurance Company like Financial Planning Simplified in Bangalore) then it’s your decision whether you take further coverage or not. In case you have no insurance coverage from your company then you should take an insurance policy from a renowned insurance provider for stress relief and save your budget. Here we can discuss some key points for which we need to take health insurance.
- Boom in health care: The cost of health care is taking a leap year by year at 15%. Some medication which cost up to 20,000 to 35000 INR before three years is now increased to 60,000 to 85,000 INR. When you get old then maybe the health Insurance company may not provide coverage for you. In most of the scenario, it has been seen that a considerable sum is spent on hospitalization during the last 6 to 12 months of your life. If you have covered with any health insurance policy, you can save your pocket and be stress-free.
- Cashless medical care: As the tittle suggests it means getting medical care without paying the bill. This means someone else is paying the hospital expenses on your behalf and here it is the insurance agency from whom you take coverage of health insurance policy.
- Pre and post-hospitalization expenses: an authorized insurance plan will cover all the post and pre-hospitalization expenses. The coverage will be applicable up to 60 days for pre-hospitalization and 90 days for post-hospitalization.
- Planned hospitalization: if you are aware of hospitalization in prior, you will get the coverage of planned hospitalization. Each medical condition takes a different time period to recover. This includes pregnancy and delivery, chemotherapy, etc.
- Unplanned hospitalization: unplanned hospitalization emerges due to an accident or if taken to a hospital to take care of emergencies which happened due to medical conditions like appendicitis, cardiac arrest, brain haemorrhage, stroke etc. In these cases, either a doctor or any close person decides that the patient should be rushed to the hospital to get immediate care. Unplanned hospitalization should be immediately informed to the TPA or the insurance company.
Which one is the right insurance plan?You have to consider certain things before choosing a health insurance policy. This will help you to choose the right plan.
- Before choosing a plan, you should check who all will get the coverage especially about the age limit.
- Check about the sum assured for each one in the selected insurance plan.
- You should check your budget that how much you can afford to buy a health insurance plan.
- After considering all the above points, you can choose the appropriate plan from available options.