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Choosing The Right Health Insurance Plan In India

By Expert Author: Rahul Shinde

When choosing your health insurance plan, you have to be aware that each plan is different and there isn't a one-size-fits-all plan. Each person and each situation differs, in the same way the plan you buy must be unique to you and your situation. Every plan has its own unique benefits and limits. You must research well or approach a sound advisor who can help you with taking an informed decision about the kind of health insurance plan suitable for you. A good understanding of your situation, your financial limits and your medical history will help you reach the right decision and purchase the right plan.

Today, even life insurance companies are entering the health insurance space. This means that the customers are spoilt for choice. There are various kinds of insurance policies available to suit every kind of need and situation. Policies are tailor-made for children, young people, adults and senior citizens. But the downside is that a new buyer may get baffled with the plethora of health insurance policies available in the market. You need to evaluate your own needs and requirements even while you evaluate the various health insurance plans.

Know your Budget - Firstly, you need to understand your financial limits, know this that a lesser premium would mean more out-of-pocket cost when you require care while a higher premium would mean less out-of-pockets costs when you need care. Figure out how much premium you can afford to pay on a regular basis to avoid paying a large sum later.
Know your Situation - You need to understand your situation - Are you single; do you have dependents; are your retired? If you are married, how many people are dependent on you? What education plan you have for your children. If you are single, by when do you plan on marrying? In most cases, when you have a family it is considered prudent to buy a family floater plan. If you plan on getting a family floater plan, you must take into consideration the medical situations of your family i.e. if anyone in your family requires special medical attention due to any ailments, etc.
Know your Medical History - You will need to evaluate your medical history and if you are planning on buying a plan for your entire family, evaluate your family medical history. How often do you (or your family members) need to visit the doctor or the dentist? Do you have any pre-existing medical conditions? Are you required to take many prescription medicines? Are you at risk of any hereditary diseases?

Knowing and understanding your medical and personal situations and your budget will make it easier for you to decide on a health care policy that is most suitable for you. Next you have to find a health insurance company that provides the perfect policy that suits your needs.

For more information on choosing the right Health Insurance plan, or to get advice on whether this type of medical insurance plan is right for you, visit Star Health Insurance.

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