Sanjay Narhari Tari

How to pick the best health insurance policy?

How to pick the best health insurance policy?

Automatic restoration, Cumulative bonuses, Annual health check-ups, Wellness discounts, Renewal discounts, Second medical opinions etc., are some more benefits offered by many Health Insurance Industries.

In Short

  • Health is never an expense. It is an investment.
  • Ensure that your policy is flexible for add-ons.
  • Opt for the policy which entitles you to add new family members.

By India Today Web Desk: We want the best for ourselves and our loved ones. In particular, we tend to buy the best Health Insurance policy that offers wide coverage and maximum benefits to safeguard us from uncertain events. It is quite a task to choose a comprehensive Health Insurance policy, when there are wide range of plans available in the market. However, it is important to choose the best Health Insurance policy that suits your needs.


Here are some tips that help to choose the best Health Insurance policy.

Wide coverage

Checking the coverage of the Health Insurance plan should be the first step in purchasing the policy. Always choose a policy that offers wide coverage because such policies will secure you against a wide range of medical and other associated emergencies. Some benefits might be subjected to sub-limits, while others might have waiting periods. Reading the policy document is the best approach to make sure you don't miss these conditions. Additionally, it helps to dispel myths about claim settlement.

Make sure to choose a Family Floater Health Insurance coverage that addresses the needs of each family member if you intend to bring your family under Health Insurance.

Other benefits

Health Insurance policies offer additional hospitalization and related coverage, such as pre-and post-hospitalization, ambulance coverage, day care treatments, modern treatments, non-medical items, hospital cash, domiciliary treatment, home care treatment, etc. Automatic restoration, Cumulative bonuses, Annual health check-ups, Wellness discounts, Renewal discounts, Second medical opinions etc., are some more benefits offered by many Health Insurance Industries.

All of these benefits come in handy at the time of need. Make sure the policy you choose offers the advantages that best suit your needs. Moreover, the premium paid towards Health Insurance can be availed as income tax deductions under Section 80D of the Income Tax Act, 1961.

Sum insured

Sum Insured refers to the maximum coverage the insured is entitled to. Going for a higher Sum Insured is essential because of the rising medical inflation. Also, remember that Sum Insured is crucial in calculating the premium. So, if you opt for a higher Sum Insured then the premium will be high. However, if you choose a lower Sum Insured then it might be insufficient to cover the hospitalization expenses and leave you vulnerable to further expenses resulting in draining of the hard-earned savings.

An alternative method for getting high Sum Insured coverage is to opt for a Top Up policy. Top Up Health Insurance policies are crafted to provide extended coverage after the exhaustion of Base Health Insurance policy’s threshold limits and other benefits at an affordable premium.

Waiting period

The waiting period in Health Insurance denotes the time, during which the insured has to wait to raise the claim for related expenses. Usually, Health Insurance companies impose waiting periods on pre-existing diseases, specific diseases, maternity, etc. The waiting period is plan specific. It may vary between 2 to 4 years. Any admissible claim related to the waiting period is covered after its completion. Thereby, opt for the policy that offers a low waiting period so that your claim becomes valid within a short period.

Most Health Insurance policies offer riders as an add-on to reduce the waiting period, such optional cover will cost additional charges. Opting for a Health Insurance policy at a young age is beneficial as you can tide over the waiting period without any hassle if the policy is continuously renewed.

Flexible coverage

Opt for the policy which entitles you to add new family members, such as the newly married spouse or a newborn baby. If so, you can add them to your existing Health Insurance policy rather than researching and finding other policies for them. This benefit may cut the cost of paying a separate premium for every family member. Whereas, in a family floater policy, you will have a single premium, and get all your family members covered under a single policy. But, be mindful that the opted Sum Insured will be shared among the added members.

A flexible policy provides add-on benefits, also referred to as optional benefits, such as lump sum for diagnosis of Cancer, rider for waiting period, etc. Note that such add-on covers are policy specific. Ensure that your policy is flexible for such an add-ons. If necessary, you can avail it at an additional cost.

Health is never an expense. It is an investment. Make sure that you invest in the best Health Insurance policy. Now that everything is made available online compare various Health Insurance plans, coverage and quotes, and remember to keep it affordable. To make Health Insurance available for everyone, Star Health offers a plethora of the best Health Insurance plans, fulfilling the needs of all age groups.