There are so many options for mediclaim in the market for policy holders to choose from, that, they - policy holders are confused by the variety. Mediclaim or health insurance is the most basic insurance after life insurance and it is an important responsibility, so one has to be extra cautious when they opt for a mediclaim policy making sure they don't miss the main points.
Premium: This is where a person can go wrong. People usually assume the cheaper and more affordable policy will be best. It is best to take time to check the coverage offered, your requirements and whether the policy addresses your concerns. Never make the mistake of choosing a policy only because it is cheap. When there are options available it is best to do a comparative analysis and then decide.
AdvertisementIt is also important to remember that premiums increase as we grow older. It is essential to keep in mind to take a policy where the premiums increase with old age but are still affordable on retirement. Premiums that rise exponentially so that they become unaffordable as a person ages should be avoided.
Simple and Straight Forward: Mediclaims have a lot of added features which may not be important. It is best to choose a basic policy which is affordable. We should take care while choosing the policy that buying something basic the coverage may be very small. With inflation and cost of medical treatment increasing by the day, we should take a policy with highest possible cover; the premium may be on the higher side but should be affordable at the same time.
Check the background of the Insurer: As the customer you have a lot of options to choose from while buying a policy. First take the advice of someone you can trust and who has experience in the matter. Then you could always conduct a background check in your own way. Search on the internet for reviews about the insurer. By reading other peoples experience you will get a fair idea about the dealings of the insurer. Though this is not a foolproof method it still gives you a fair idea and in case you come across a very bad reputation you can opt for another provider before committing.
Sometimes, even after taking utmost care you may face insurance problems, but that is now a matter of chance. Mediclaim is something you require in extreme circumstances and you can take utmost precautions. This is a health cover a person relies on and it is always prudent to be careful rather than sorry.
Hannah Punitha (IRDA Licence Number: 2710062).
Runjhun Noopur, February 2013
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