How to choose a comprehensive health plan?

Regardless of the fact that about 65% of the population in our country is aged less than 30 years, (something that could go well in our favor) we stand the risk of losing this demographic advantage to problems such as rising medical costs and almost an imperceptible ingression of health insurance plans in our country.With medical inflation at around 15%, modern diagnostic services and treatments for the grave illnesses likely to become costlier and a rising trend of lifestyle diseases in India, it has further aggravated the risk.

How to counter these problems?

No doubt, you need an insurance plan but choosing the right one is not that easy a task. You need to do your due diligence to find one that protects you financially against a whole range of difficult circumstances including hospitalization, surgeries, and diseases that you may have acquired through your genes. Family’s medical history is a key component that is considered while choosing a medical insurance plan. One also needs to beware of low-cost policies offering protection that may do well only in theory and when called for, could practically put your family’s health at risk. Such insurance policies are ample in number and present themselves under the garb of ‘responsible medical remittances’.

Here are a few things you should keep in mind while choosing a comprehensive health plan-:

Firstly, the policy plan that you choose must fulfill its primary condition of securing your financial position. It should provide effective medical cover for circumstances such as-:

  • Hospitalization in case of any injury or illness.
  • Surgeries due to medical complications.
  • Treatment for acute diseases. 


Secondly, you must have the liberty to create and customize the med-claim policy according to your needs. A plan that gives you customization options in hospitalization cover or reimbursements should be chosen over a plan that has pre-determined and inflexible medical covers. A policy that covers multiple surgeries with varying coverage according to the criticality of the ailment strikes the perfect balance between cost effectivity and the insurance coverage.

Thirdly, you should choose a policy wherein you should be able to customize it according to your special requirements. What works for somebody else might not work for you. If you have a medical history of a particular disease that you have inherited, then you might want to opt for the highest possible coverage for such ailments.

Choosing a plan of longer duration can free you from the troubles of renewing the policy every year. It can also help you plan your long-term finances with the confidence that your family’s health is taken care of. Consider the credibility and reputation of the insurer when finalizing the policy. A low-cost policy but with a record of settling claims may prove to be a very bad choice for your family. Instead of focusing on the premium amount, one should consider value for money along with features, customization, and additional benefits when you make the choice.

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