How To Find The Cheapest Health Insurance
Health insurance can be expensive, especially when you want to cover the entire family. But the cost of insurance is still very less as compared to the health claims you may have to finance if you do not have one. So the big question is how to find value for your money i.e. how to find the best insurance policy with maximum benefits in your budget.
While cost is a big factor, you cannot compromise on the coverage offered.
- -Some policies may appear less expensive but may have sub limits, deductibles, co pays etc i.e. the proportion of out of pocket expenses may be higher as compared to other similar products available in the market. There may be room rent capping, ICU charges limit, limits on certain procedures.
- -You must look for features which are essential as per your requirement. Eg some plans cover pre existing conditions such as diabetes, hypertension at the onset by applying a loading on premium. Certain plans have riders and add on covers available on the payment of extra premium. So you have the option to buy the basic plan as well as the flexibility to add riders and add on covers such as personal accident, critical illness etc at a nominal price, as per your requirement.
- -Buying a basic health insurance cover and then increasing the sum insured by opting for a top up health insurance cover along with it, is a good way of increasing your health cover at a lower premium.
- -Comparing the health insurance plans available in the market from different insurers is a good way to save money while getting good value in terms of the coverage. www.insurancepandit.com allows you to compare various plans of different insurance companies in terms of premium as well as benefits available. This can save not only money but also time.
What are the conditions or restrictions of portability?
- -You can port the policy only at the time of renewal.
- - Apart from the waiting period credit, all other terms of the new policy including the premium are at the discretion of the new insurance company.
- -You have to renew the policy without a break.
- -You have to apply for portability at least 45 days prior to the date of renewal.