“You don’t buy life insurance because you want to live, but because those you love are going to live.”
You cannot predict the future but you can plan for it. All of us want to keep our families and loved ones safe and health insurance is important to ensure their safety and wellbeing. Those with the misfortune of witnessing up close the challenges faced when close ones get hospitalised, know that the same also provides an opportunity to learn some good lessons. The first being, health is wealth. Better believe it!
And the second being the sudden realisation that one’s health insurance may turn out to be inadequate. As per recent research, a family of 4 living in Mumbai would need to buy health insurance policies of Rs. 12 lakhs to say that one’s family is adequately covered against future health problems.
As a general principle, to note, it’s ideal not to spend a single rupee of your health insurance policies in the first year of purchase. In several cases, there might be a 3-year waiting period for some ailments. So as contradictory as it sounds, you really need to be getting covered well before you need it.
What adds to the urgency of buying health insurance online is this estimate revealed by the World Health Organization (WHO) – health related financial shocks have been responsible to push 3.5% of Indians below the poverty line.
The Bottom Line
“Fun is like life insurance; the older you get, the more it costs”
It costs less than Rs. 1,500 per month for a family of four – the eldest member being 40 — to get a family health insurance floater plan of about Rs. 10, 00,000 cover. Surely, if you earn a hundred or even fifty times this sum a month, paying this much for your family is not asking for a lot. The choice is (and I dare say responsibility) is solely ours.
Nowadays more and more companies have the provision to purchase health insurance online and this is of great benefit to the customer as it is easier and more convenient. Buying health insurance online also provides you the opportunity to assess all the benefits and features of the health insurance policy, hence making it easier for you to choose the plan best suited for you.
Here are a few steps you should follow after deciding to buy health insurance policiesfor yourself and loved ones…
Step #1 – Don’t be too late in getting yourself health insurance policies. You could even buy health insurance online.
Step #2 – Assess who all do you want your health insurance policies to cover and their health status
Step #3 – Assess your lifestyle before buying health insurance online
Step #6 – Compare Hospital Room Eligibility Capping
Step #5 – Check for any Sub-Limit/Co-pay
Step #6 – Hospital Network is Important Parameter
Step #7 – Finally, go through Policy Wordings
Step #8 – Go for Super-Top-up on your health insurance policies
Step #9 – Ensure you appoint a good advisor