It is very difficult to make a choice on a perfect health policy as there are so many insurance companies offering a range of policies to choose from. It will be easier to follow some key insights to make the choice easier.
First you need to consider your personal lifestyle and demographic factors.
If you are 30 years old and unmarried your insurance needs would be different from someone who is 35 years old, married with dependent parents.
To start with you have to consider your age and family size. As a young person you will generally have fewer ailments or pre-existing health conditions. When you are married you can expect the equation to change. A standalone policy can adequately cover in patient treatments for a young single person.
A person above 35 years of age who is married should upgrade their insurance plan to a family floater policy. This will provide proper health cover for the spouse and later can be expanded to include children. At this stage the sum insured should be a 5 - 10 lakh. Dependent parents can also be considered in the floater plan.
When you have dependent parents - they will need health covers as well, if they don't have a policy of their own. At times when the retired parent is a government employee, most probably will be under the "Central Government Health Scheme" which will provide health benefits even after retirement. A top up cover for them will suffice in such cases. As parents mature it becomes more and more difficult to get adequate health insurance. It would save a lot of hardship all around to ensure they are properly health insured.
Keep your occupation in mind when you buy health insurance for example if you are in the marketing field with a lot of travelling - it will be judicious to buy a personal accident policy as under this - death and permanent disability is covered.
Those with a family history of Pre-existing or Hereditary Health Problems like high blood pressure and diabetes should opt for a critical illness cover at a young age. This will be possible only when taken relatively early in life. With this policy you can you buy insurance against serious health problems at a low premium.
Hannah Punitha (IRDA Licence Number: 2710062)