With the increasing cost of medical treatment, it has become essential to buy health insurance for yourself and your loved ones. You can buy individual or family health insurance based on your insurance requirements.
But keep one thing mind, there is no point in buying health insurance plans which do not provide sufficient financial coverage when required. Therefore, it is best to compare health insurance plans before making a final choice.
You can compare plans offered by different insurers and also different plans offered by your preferred insurer. But in both cases, making this comparison offline is a mammoth task. You cannot physically visit the offices of multiple insurers to understand their offerings. So the easier way is to compare health insurance online.
And here we will discuss how you do online health insurance comparisons. But before that, let us learn some important information on health insurance benefits and factors to consider while buying health insurance.
Benefits of Online Health Insurance Comparison
If you are not sure about comparing different health insurance policies online, here are its benefits of it:
- Free quotes: You need not pay any money to the insurer to know the premium for an insured amount of your choice. Insurers like Tata AIG offer free quotes for their various health insurance plans. Simply visit the insurer’s website and provide a few basic details like your age, gender, etc., and you can get free policy premium quotes. It makes comparing multiple health insurance policies and buying the right one easier.
- Convenience: Comparing health insurance policies online is extremely convenient. You can compare the features, benefits, coverage, claim settlement, and exclusions of multiple policies from your personal computer or mobile phone without even stepping out of your house.
Moreover, you can even select and buy health insurance online with almost zero paperwork and without the involvement of an agent, unlike the offline route.
- Value for money: Compare health insurance policies online to select the one that offers the maximum coverage for a reasonable premium. Comparing various health plans online allows you to select the plan that is not only suitable for your needs but is also budget-friendly.
- Confidence: When you compare different health insurance plans online, you go through their terms and conditions in detail. This way, you have complete knowledge about the plan you finally choose and understand its inclusions and exclusions in detail. It gives you mental peace that you have purchased the right health insurance plan for your difficult times.
Factors to Consider When Comparing Health Insurance Online
- Sum insured: It is the highest amount the insurer will provide you coverage for. The premium for a higher sum insured is also higher. Ensure that you select a plan with an adequate sum insured to provide you with sufficient financial support when needed.
- Coverage: A health insurance policy coverage means its inclusions and exclusions. Check the various online health insurance policies for their coverage to understand their extent of coverage.
- Network hospitals: Most insurers have network hospitals empanelled, from where you can get cashless hospitalisation and medical treatment. Check the list of network hospitals for an insurer to ensure that at least a few good hospitals in your vicinity have a tie-up with the insurer.
- Waiting period: Insurance companies do not provide you coverage from the first day of the policy for all illnesses. You need to go through a waiting period to file a claim. This waiting period is usually applicable to pre-existing conditions. Check the waiting period for different health insurance policies to avoid claim settlement delays and rejections.
- Co-pay clause: When you compare various health insurance policies online, check if the policy has a co-pay clause. This clause means that you have to pay a certain amount towards claim settlement. The premium for such policies is low, but you will have to share the claim settlement burden with the insurer.
- Online reviews: Go through the reviews of existing customers for various insurers. These reviews give a genuine picture of the policy and services of the insurer.
How to Compare Health Insurance Online?
The steps given below will help you compare multiple health insurance policies online:
- Visit a health insurance company’s website.
- Go to the option that starts the process of buying online health insurance, like ‘Buy Insurance.’
- Share your basic details.
- Choose the sum insured and add-ons you want.
- Make a note of the health insurance quote from the insurer and its offerings and services. Also, read the customer reviews.
- Repeat the process for multiple insurance companies.
This process will give you an in-depth understanding of the various health insurance plans you can buy. You will also know the premium amount for those health insurance plans, and make a decision based on your affordability.
Conclusion
Online health insurance comparison facilitates the process of buying a suitable policy. You can understand the offerings, services, and costs of multiple health insurance plans online and make an informed buying decision.
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