Due to the rising cost of health care, its necessary to secure yourself and your family by buying Health Insurance (Medical Insurance).Here is how to choose a policy that suits your needs better.

1. Tips for Choosing Right Health Insurance/Mediclaim Policy
Due to the rising cost of healthcare, it’s necessary to secure yourself and your family by buying
Health Insurance (Medical Insurance). Here is how to choose a policy that’s suits your needs better.
It takes several attempts to an insurance agent to convince a customer to buy Health Insurance, but
few minutes on billing counter is more enough to understand the importance of mediclaim
insurance plan.
A simple hospitalization may cost you thousands of rupees from your savings, which definitely
causes financial disaster. Don’t be surprised as healthcare costs are rising at a fast clip. If you are
looking for a health insurance policy for yourself or for your family, vast array of choices are
available in the market. More choices cause more confusion. And one should not be confused when
it comes to health coverage.
There are individual Policies, family floater plans, critical illness health insurance plans, mediclaim
plans for Senior Citizen and many more available in the market. How does one pick a suitable and
affordable health insurance plan from the litter?
Each type of health insurance policy fulfills some specifies needs. You just have to choose the right
one as per your age, your family size and existing cover.
Individual Health Insurance Plan:
Looking for an individual health insurance plan as it plays a significant role in the health care.
Individual Health Insurance Plan is an ideal option for people who do not access the group
mediclaim policy or family floater health insurance plan. Insurance premium of this kind of policies
is generally high but it does not mean it is unaffordable.
Family Floater Health Insurance Plans:
If you have an elementary family, a family floater plan suits you better. In family floater health
insurance plan sum assured is shared between all members and thus is available to all members of
the family. It’s unlikely that all the members will require hospitalization in the same year Premium
may be more in case of family floater plan as compared with an individual health plan.
Family Floater policies are also very useful for newlywed couples or for those who are already
married and intended to start a family in a few years.
Group Mediclaim Policy:

2. Most of the employers offer the health insurance benefits to their employees. Some People think
that, if I am covered in my employer’s health insurance scheme then why should I buy individual
health insurance plan? This can be a very costly mistake. Group mediclaim policies are useful but
they may not be sufficient enough.
 What if the company withdraws the Group Mediclaim Benefits for cost cutting
reasons?
 What will happen if you leave your current job?
 Several clauses in new health insurance plan like 2-3 years waiting period for pre
existing diseases.
In all the above conditions you will be with no health insurance cover.
With the existing Group Mediclaim Policy, you can either buy a individual health insurance cover or
go for a top plan. A top up policy is cheaper because it will cover expenses beyond a certain initial
threshold.
For instance, Mr. Sharma undergone a minor surgery in a private hospital in a metro city, he was
shocked to see the bill. “A minor operation and a one night hospitalization cost him INR 1.4 lakh.
The cover from his employer is only INR 50,000 of the cost.”
Health Insurance For Self Employed:
Health insurance is much more important for people who are self employed or businessperson. For
those a simple insurance plan that covers hospitalization charges will not be enough. They also
need to insure themselves against the loss of income due to medical emergency.
Self employed persons should supplement the base cover with a fixed benefit policy, which pays
them a specific amount for the period they are out of work.
Health Insurance for Senior Citizens:
Family floater health insurance plan is a bad option if you want to cover for an older relative as well.
If you lived with aged parents, it is advisable to go for individual mediclaim policy. While looking for
senior citizen health insurance plan study all features, terms & condition in details because most
health insurance policies do not offer coverage beyond the age of 70 years. But few policies now
offer a lifelong health insurance cover.
Choosing the Right Health Insurance Cover:
While choosing a health insurance plan, don’t be just look the insurance premium. The policy
features are more important with respect to insurance premium. Approx all the policy document
are available online, you can simply go through the terms and conditions of the policy.

3. You can also use online health insurance comparison platform available on the web where you can
easily compare the insurance offering from the leading insurance companies in a cost effective way.
Bajaj Capital Insurance is always here to provide you the facility of comparing health
insurance offering from the leading insurance companies in India. Foe further assistance feel
free to call our toll free 1860-266-1226 or you can also write us a email at
info@bajajcapitalinsurance.com