Factors determining your choice of Best mediclaim policy:
a.Perfect mediclaim policy syndrome: The very first thing is to get out of the Perfect mediclaim policy syndrome. It is impossible that you get a health insurance policy that totally matches your requirement. Prioritize your needs and then look out for the one that features your top-priority needs. Focus on coverage amount and treatments covered under your policy.
b.Avoid policy with too many unnecessary riders: Most of self alleged best mediclaim policy may increase your premium by giving you non-essential features like Consultation fee or medicinal bills or bill for routine check-up. These expenditure you can cater by yourself as the expenses in these arena would not be pocket burning. Remember one thing; the purpose of insurance policy is to safeguard you from the hefty expenditure that you may incur in case of hospitalization.
c.Renewal Age: Maximum renewal age offered by Heath Insurance India policies is a major determining factor. The older we grow the more we require health insurance. So, avoid the policies that do not provide coverage post 65 years.
d.Treatment wise caps: Do pay heed to different treatment caps or limits. It may be possible that your health insurance policy have a cap of Rs 2 Lakhs for availing treatment for cardiac arrest. This means that you would not be able to claim more that Rs 2 lakhs when availing treatment for heart stroke even though your sum assured is Rs 5 lakhs.
e.Coverage extent or Sum insured: Coverage extent should be high in health insurance plans keeping in mind the inflation rate. The sum insured is the maximum amount that your health insurance policy would provide you for the treatment. For example, if your sum insured is Rs 2 lakhs today and you require your health insurance policy 3 years down the line, then this amount may be inadequate to meet your financial need as the cost of medical procedure would increase. So opt for a higher coverage amount.
Credibility of the company: It is essential that you do check the credibility of the company that is offering you the best mediclaim policy plan. If the claim settlement history is not sound then there is no point investing in that health insurance plan.