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How To Decide The Perfect Insurance Plan For You

How To Decide The Perfect Insurance Plan For You

How To Decide The Perfect Insurance Plan For You

If you are anything like me, then the insurance-plan isn’t a topic that you have thought or discussed much until recently. There is a reason for that of course. When I was in a corporate 9 to 5 job, I had insurance, thanks to the companies I worked with. However, when I took a break from that world and realized that I might not be able to go back to the corporate world, I decided to give up on insurance. Both actions had no connection per se except the fact that I didn’t want anyone else to pay for my insurance.

I moved to the blogging world, some 4 years ago and it has been only a couple of years that I have been back to earning regularly through my blogs. Insurance was the last thing on my mind until the lockdown started. To say that all our lives have taken a challenging turn, would be an understatement. We, as a family sat together and started the discussion on the insurance plan as it is the first step towards being prepared for unforeseen circumstances.

There are so many options in the market that deciding the perfect insurance plan becomes a bit of a daunting task. As a process, it is important that we take the time to assess what we truly need, and want in a plan.

Don’t worry, with my little experience of last few months of reading through so much on insurance and speaking to many insurance experts then finally settling with the best plan, I have managed to write a few steps that will help you to overcome this confusion on how to decide the perfect insurance plan for you:

  • Affordability and coverage

Start with calculating/budgeting the amount you want to spend in your insurance plan and then calculate the amount of health insurance coverage you need. Make sure to go for plans offering maximum health coverage as well as the amount for the treatment. Given the current circumstances, we all know that the medical costs are on a continuous rise, and not planning it well may result in burning a hole in your pocket.

  • Lifelong renewability

Make sure that the policy that you pick has lifelong renewability. As per IRDAI regulations, insurers are mandatorily required to offer health insurance for an entry age of up to 65 years. As per the rule, all policies have to offer lifetime renewability. Once the policy is issued, the policyholder has the right to continue renewing it lifelong.

  • Cashless plans/transactions

This point is based on my personal experience when I had to get hospitalized, I would always prefer cashless plan. Cashless health insurance basically removes the troubles or hassles of paying cash at the hospitals.

  • Read the reviews of experts and customers

Make sure to compare plans from a few other insurers before making a final decision. Take a close look at the inclusion and exclusions in the most basic plan that the insurer is offering. Read the genuine reviews of experts and consumers to understand and then make a decision.

  • Easy access and connect with the insurer

Last but not the least, all-time accessibility is a must during these times. Make sure to opt for a health plan that provides around-the-clock support.

For example, Take Care app from ICICI Lombard. It is one of the best decisions I took so far during this lockdown to download this app. From hello doctor feature (24*7 availability of doctors) to the tracker of my health and from teleconsultations to my wellness needs, all of it is available on my fingertips and a click away. Once you opt for an insurance plan with ICICI Lombard, this app will walk you through everything right from your smartphone. Could it be any easier!

I hope, above-mentioned points will help you in understanding and selecting the best plan. It’s the season to roll up your sleeves, gather all your documents, and pick a health insurance plan for 2020 so you too can #RestartRight,

Reference:

https://economictimes.indiatimes.com/tdmc/your-money/5-new-age-features-of-health-insurance-plans-to-know/articleshow/50806399.cms?from=mdr

Disclaimer: All reviews and opinions expressed in this post are based on my personal views.

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kavita

Mom of a beautiful and most adorable baby girl. I am a dreamer and a true optimist with a drop of crazy at heart. I have always been fascinated with the perpetual link of a pen and a heart. It amazes me how beautifully pen can write what heart truly believes.I am a stubborn daughter, pampered wife, doting mother and free-spirited human being. Do not forget to visit www.momtastciworld.com and www.clumsythoughts.com


Reader Comments

  1. Earlier there used to be health insurance policy. Now there are health insurance solutions. This is how life has changed in last few months. You have shared all the points which one should focus on while buying health insurance.

  2. We need to be very certain about the benefits that each health plan has to offer. This post is very informative and will help in making the right choice to #RestartRight

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