Applying for Health Insurance – Important Points to Keep in Mind


Health insurance means insurance that covers medical expenses in case of your tumultuous health or when you meet with an accident or an injury. If the medical emergency that you are experiencing is covered by your health insurance plan, then the insurance service provider will take up the medical expenses.

Health insurance is now inevitable for everyone & is rather a necessary investment. Here is why everyone needs to get life insurance:

  • Medical expenses are on the rise & a basic visit to a doctor or a hospital can create a hole in your pockets.
  • With advancements in life sciences & improvements in medical technology & care, life expectancy is rising. However, not all are rainbows & roses; the darker side is a rise in stress levels & unhealthy lifestyles leading to chronic illnesses. To defend and protect your finances from unprecedented medical emergencies, having health insurance is imperative & a best bet too.

Below mentioned are some of the important points to keep in mind while applying for health insurance:

  1. The Age Criteria: When looking to purchase any health insurance, age is an important factor to consider. Especially when a family plan is being considered, the age of the oldest member in the floater plan dictates the premium. Hence, one needs to consider age as an important criteria.


  1. Choosing the Right Premium and Coverage Combination

Purchasing health insurance with the lowest premiums can be profitable. There may, however, be two sides to it. If a policy has a lower premium and offers you comprehensive coverage at a price you can afford, that policy may be a suitable choice. The lower payment at the expense of insurance coverage is the other factor.

You ought to purchase a policy that provides sufficient coverage, without sacrificing benefits, and at a price, you can afford.

  1. Waiting Period Provision

Follow the principle of Caveat Emptor, which means let the buyer beware. Many health insurance policies come with a waiting period provision that disallows you from making any claim during the probation period that is decided by the insurance service provider. This waiting period can be somewhere between 24 to 48 months. One needs to avail policies that do not come with a waiting period & also disclose all the medical conditions that exist before buying any policy. Keeping the service provider in the dark will not do any good to the relationship & your chances of getting a claim may worsen.

  1. Cashless Hospitalization Benefits

Health Insurance companies usually have strategic tie-ups with network hospitals wherein the insured policyholders can leverage the advantage & convenience of cashless treatment in case of a medical emergency. It saves you the hassle of dealing with tedious & time-consuming paperwork that is a requisite at the time of admission and claim. The insurer pays the hospital the claim amount directly.

  1. Pre and Post Hospitalization Coverage

All health insurance plans cover the treatment charges incurred. Some health insurance policies have post-hospitalization coverage that will help you with doctor fees, running medical tests & some other aspects to save you more money when facing a medical emergency.


The views expressed in this blog are the blogger’s personal views based on his/her assessment and understanding. Readers are expected to do their own due diligence.

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