Top 10 Tips to Choose the Best Mediclaim Policy in India

Health insurance is essential for everyone, irrespective of age since a single illness might financially drain an individual without a mediclaim policy.

While choosing the best Mediclaim policy for family is not a big task, many individuals still ignore some of the most important terms. Due to this, they end up buying inappropriate  mediclaim insurance for themselves and their family.

Therefore, it is critical to do thorough research while selecting the best health insurance plan per your requirements. This post will take a quick rundown of 10 tips for choosing the best policy for your family.

Smart Tips For Choosing The Best Policy

Here are ten excellent suggestions for selecting the most significant insurance plan in India:

Right Coverage

It’s crucial to check the coverage provided when purchasing a mediclaim plan. Here, coverage means the medical costs paid by the insurance company, including maternity costs, ambulance fees, hospitalisation costs and much more.

High Claim Settlement Ratio (CSR)

The total claims resolved by an insurance business annually over the total number of claims received is known as CSR. A corporation is more trustworthy if its claim settlement ratio is higher. As a result, it is always beneficial to pick an insurer with a high CSR.

Cashless Hospitalization Benefit

Cashless health insurance is becoming more and more common in the insurance sector. In the case of cashless health insurance, the insurance companies pay the network hospitals directly for the services received. Therefore, it is suggested that a person buy health insurance that offers cashless treatment at the network hospitals.

Network Of Empaneled Hospitals

When you’re ready to buy medical insurance, pick an insurance provider that offers a large selection of hospitals in its network. You are not required to pay the hospital bill when discharged from these facilities because they provide cashless hospitalisation services.

Waiting Period

The waiting period is a crucial factor to consider when selecting a health plan. After the waiting period, the insured may submit a claim. Depending on the plan, the waiting period typically ranges from 2 to 4 years. 

Reputation Of The Company

Research the insurance provider’s reputation before buying a health plan. Doing this gives you a sense of security with the services the insurance provider provides. To clearly understand the services provided, you can read online reviews of the insurance provider.

Compare Premiums

It is among the most crucial factors when picking a health insurance company. One can choose the best plan at a cheaper premium rate by comparing different plans’ features, benefits, and pricing.

Lifetime Renewability

Make sure the health insurance you choose can be renewed for life. This is crucial because you’ll need health insurance as you age. However, purchasing health insurance in your later years can be challenging and expensive. You can keep the same plan even as you get older if your current one has lifetime renewability.

Co-Payment Clause

Many people find this phrase confusing and tend to ignore it when purchasing a  mediclaim plan. A co-payment clause is a contract in which the insured agrees to pay a predetermined percentage of the claim amount in the event of hospitalisation, with the insurer covering the remaining claim amount.

Maternity Coverage

The cost of maternity care and delivery is rising, and buying a health insurance plan with maternity coverage is a must. Unfortunately, individuals often ignore the maternity benefits offered by health insurance companies which is not an ideal purchase.

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Final Thoughts

Make sure you consider the tips mentioned above while choosing a policy for family. Considering all the points, you will buy a good health insurance plan at a lower premium. Niva Bupa is the best mediclaim policy provider offering all the above features for customers. 

Along with this, its quick claim support and the hassle-free process can help you remain stress-free in a medical emergency. For more information, visit Niva Bupa and schedule a call with their representatives!


IITSWEB is the Chief Business Development Officer at IITSWEB, a Magento design and development company headquartered in Redwood City, California. He is a Member of the Magento Association and an Adobe Sales Accredited Magento Commerce professional. Jan is responsible for developing and leading the sales and digital marketing strategies of the company. He is passionate about ecommerce and Magento in particular — throughout the years his articles have been featured on Retail Dive, Hacker Noon, Chief Marketer, Mobile Marketer, TMCnet, and many others.

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