Buy Health Insurance Online India:

Health insurance is the most desired product in India due to the Coronavirus pandemic. The rising health care costs have pushed many people to opt for individual health insurance or family health insurance policy that suits their budget as well as other requirements. So, you have to be very careful before selecting a health insurance company. Always check their customer service, policies, plan details, and benefits before buying health insurance. With so many companies providing health insurance plans, it can be hard to choose the right one for you. In this article, we will explore the different types of health insurance plans importance of purchasing health insurance online, and how it can be safe if done properly. and help you decide which one is best for you...

What is Health Insurance?

Health insurance is a type of insurance in which an insured person gets financial support in case of a medical emergency. Health insurance is a long-term contract between the customer and the insurance company. The people who have health insurance can get health insurance claims from the Insurance company in case of hospitalization due to accident or illness and they will take care of medical expenses charged by the hospital. There are different types of health insurance policies available in India such as

• Individual Health Insurance
• Family Health Insurance
• Critical Illness Insurance
• Senior Citizen Health Insurance
• Top Up Health Insurance
• Personal Accident Insurance
• Mediclaim Insurance
• Group Health Insurance
• Disease-Specific Health Insurance

Why Should Buy Health Insurance?

• Financial Security: Considering the rising medical expenses in India, it becomes imperative to get a reliable health insurance policy on time. The policy not only offers you wide coverage but also protects you from hospitalization expenses in case of emergency even during inflation. It not only keeps you stress-free but also takes care of your health.
• Cashless Treatment: Generally insurance companies have tie-ups with hospitals, known as network hospitals that offer cashless treatment to the insured in case of hospitalization. These hospitals reimburse the expenses related to treatment availed by the insured. This means, you can avail of treatment at these hospitals without paying anything for the medical expenses incurred, and the insurance company will reimburse you for the same later when you make a claim. Note that the claim will be approved if it is made by the terms and conditions mentioned under the policy.
• Lifetime Renewability Benefit: Lifetime renewability benefit allows the policyholder to renew their health insurance policy without any age limit or upper restriction. Especially for senior citizens and parents, the lifetime renewability benefit takes off the financial pressure in case of a medical emergency. The Insurance Regulatory and Development Authority of India (IRDAI) has given guidelines to the insurance providers to offer this benefit under the health insurance plans that they offer.
• No Claim Bonus: Insurance companies offer No Claim Bonus (NCB) as a reward to the policyholders for not making any claim during the policy year. Also known as a cumulative bonus, the No Claim Bonus applies to both individual health insurance plans as well as family floater health insurance plans. However, note that there is a limit of coverage that you can extend through the No Claim Bonus.
• Tax Benefits: The government promotes health insurance by offering tax deductions on the premium paid for them, under Section 80D of the Income Tax Act, 1961.
• Portability Benefits: Health insurance portability allows the policyholders to transfer their existing health insurance policy to a new health insurance provider. It safeguards customers from being taken for granted by the insurance companies, thereby giving them flexibility and offering them better options in case they are not satisfied with their existing health insurance plans.

Benefits of Buying Health Insurance Policy Online

There are many ways to buy a health insurance policy but before buying health insurance online the customer should have to know about the benefits of health insurance online that help customers feel free to purchase it for their needs.

• Quick process: When you buy a health insurance policy online, your policy is issued to you almost instantly. You don't have to wait for days to receive your policy document. All you need to do is fill up a few basic details about you and your contact details from the comforts of your home and you can get your policy in on time.
• Time-Saving: Buying health insurance plans online helps you save time as it does not involve any insurance agent. All you need to do is compare quotes and shortlist the medical health insurance policy as per your requirement from the ones displayed on your screen.
• Right Decision - When buying health insurance plans online, you have complete flexibility to choose the most suitable plan for yourself and your family. You can check information about policy like coverage benefits, exclusions, and other terms and conditions, etc. It will help you to make the right decision on selecting the best health insurance policy
• Paperless process: No lengthy documentation process for buying a health insurance policy Online. A health insurance policy purchased online involves Zero paperwork. To begin with, the proposal form is filled digitally and the scanned copy of any required documents is submitted to the insurer online. Moreover, the soft copy of the policy document is sent to your registered email id once the policy has been issued to you. As a result, online purchase of health insurance does not require any filling because everything is done digitally by entering the details easily.
• Easy to Compare: One of the best things about buying health insurance online is that you can compare different health insurance quotes online for free of cost with PolicyBachat. Compare quotes with different insurers and get the best health insurance policy online. It takes just a couple of minutes to compare different types of plans and to eliminate the need to consult with several insurance agents in person.
• Safe Process: The process to buy health insurance online is very systematic and safe. You can be sure that the documents and proofs you upload on the website along with your application form are directly submitted to the insurance company with no chances of misuse.
• Pay Premiums Online: Flexible modes of premium payment are available when buying health insurance plans online. You can choose the mode at your convenience and pay the premium via a secured payment gateway.
• Customer Support: In case of any doubts or queries about buying a health insurance policy. You can call our customer care number. PolicyBachat gives excellent support assistance to avoid any discrepancies. You can get your queries solved promptly and seek assistance whenever needed. Reach PolicyBachat Customer Care Service Number:  1800-123-4003.
• Discounts - Many health insurance companies offer you discounts if you buy their health insurance plans online. If you buy a health insurance policy online you can avail better benefits and discounts.

How to Buy Health Insurance Policy Online in India from PolicyBachat

The process of buying a health insurance policy online has become simple with PolicyBachat. For buying a health insurance plan online please visit our website Policybachat.com Following are steps to purchase the health insurance policy online in our portal.

• Visit the Policybachat Website and Select the ‘Health’ tab.
• Select your ‘Gender’.
• Select ‘Who do you want to insure’ and their ‘Age’.
• Enter your ‘Pin code’.
• Enter your ‘Name’.
• Enter your ‘Email Address’.
• Then click on ‘Start Saving Money’.
• Premium Quotes of top health insurance plans will be displayed as per data entered by you and which are suits your requirement.
• You can edit policy details, sum insured value, policy term and you can choose your preferred company
• Purchase best health insurance policy using online payment

Documents Required to Buy Health Insurance Online

To buy a health insurance policy online, the following documents would be required

• Age Proof: Proof of age documents such as Birth Certificate, 10th or 12th mark sheet, Driving License, Passport, Voter ID, etc.
• Identity Proof: Passport, Driving License, Voter ID, PAN Card, Aadhar Card, etc.
• Address Proof:  Electricity Bill, Ration Card, Telephone Bill, Passport, Driving License with your permanent address mentioned on it.
• Medical check-ups:  Some health insurance plans require health check-ups. So medical check-up certificate if needed.

What is covered in Health Insurance?

• Pre-Post Hospitalization Expenses: Medical expenses incurred on blood tests, x-ray, and other medical check-ups that are required before hospitalizations are taken care of by the insurance company. Similarly, the cost of the medicines and preventive health check-ups that are done to ascertain your health after the discharge from the hospital is covered under the health insurance plan.
• In-patient Hospitalization: The hospitalization expenses incurred during the treatment of an illness or injury are covered provided the hospitalization is for more than 24 hours.
• Pre-Existing Illnesses or Diseases: After the completion of the waiting period, you can file a claim for the expenses incurred on the treatment of any pre-existing illness or condition.
• Ambulance Charges: Although the coverage amount varies from insurer to insurer, most medical insurance plans cover emergency ambulance charges.
• Maternity Cover: Medical expenses incurred during the pregnancy and delivery are covered along with newborn baby expenses.
• Health Check-ups: regular health check-up facilities are also made available in some health insurance plans in India.
• Day-care Procedures: Day-care treatments where hospitalization is not required for more than 24 hours are covered. It includes eye surgery, dialysis, and other common day-care surgeries as mentioned in your policy document.
• Ayush Treatment Cover: A health insurance plan also reimburses the medical costs incurred on Ayurveda, Unani, Siddha, or Homeopathy treatment up to a specified limit.

What is not covered in Health Insurance?

• Claims arising out of adventure sports injuries are not covered, and the initial 30 days of buying the health insurance plan are not covered.
• Treatment/diagnostic tests and post-care procedures
• Hospitalization and rehabilitation, common illness, etc.
• Dental or eye surgery expenses
• Cosmetic or plastic surgery, replacement of hormones surgery, etc.
• Terminal illness, AIDs, and other diseases
• Self-injuries or suicide, war/terrorism/nuclear activity
• Coverage of pre-existing diseases is to a waiting period of 2 to 4 years
• Critical illnesses coverage comes with 90 days waiting period.

How to Select the Best Health Insurance Plan?

There is no best health insurance plan which fits all. Each person has different requirements and the health insurance plan has to be chosen as per the requirements. In that case below factors are to be considered before deciding on the best health insurance plan:-

• Coverage/Premium:

Coverage in health insurance is also known as Sum insured under the health insurance plan. The higher the coverage, the higher would be the premium charged by the insurance company. The sum insured or coverage should be ideally decided by the customer keeping in mind different factors such as Age of the customer, family members in the policy, rising inflation costs, cost of treatments, affordability/premium paying capacity. Nowadays insurance companies are providing EMI options to pay their health insurance premiums which provide great relief to customers to select the higher sum insured plans.



• Individual/ Floater:

It is important to decide whether the health insurance policy would be taken for an individual or family. Many options in a health insurance policy cannot be utilized by an individual alone and availing of these options would be of no use and the customer would end up paying a high premium for the options he wouldn’t be using. The sum insured can be opted separately for each individual in the health insurance policy or everyone in the policy can use a single sum insured. Most of the health insurance plans include individual and floater sum insured options for the customer to select from.



• Need for health insurance:

First of all, the need for health insurance should be identified by the customer before proceeding to the health insurance policy purchase. As there are different types of policies for different requirements, it is important to analyze the need for health insurance before taking one. For instance, there are Covid health insurance plans, Maternity plans, senior citizen plans, Plans for customers with pre-existing diseases such as Heart attack, Hypertension, etc.



• Add-on/ Rider:

Add-on or Rider is the extra coverage that is available under the health insurance premium on payment of additional premium. The base coverage can be extended with the help of add-ons on payment of additional premium. There are so many add-ons available from different health insurance companies with different health insurance plans. Careful analysis should be made before deciding on an add-on as the riders are charged by the insurance company. The customer should identify the add-on which is necessary as including all the add-ons will only increase the premium with less scope for utilization of all the add-ons.



• No Claim Bonus/ Renewal Bonus:

No claim bonus or the renewal bonus is the increase in sum insured at the time of renewal provided by the insurance company for no claims made in the previous policy year. The maximum renewal bonus or No claim bonus provided by the insurance companies would not exceed 100% of the basic sum insured. There are a few plans which provide a 10% to 50% renewal bonus for each claim-free year. The higher the renewal bonus percentage each year, the higher would be the sum insured at the time of renewal.



• Network Hospitals:

Network or tie-up hospitals are the hospitals with which the insurance companies agree to provide cashless treatment to their customers. In cashless medical treatment hospitalization, the customer need not pay medical bills to the hospital. The insurance company tie-up with those hospitals and they take care of the medical expenses charged by the hospital.



• Co-pay:

In Copay the fixed amount of money is must pay each and whenever the insured person needs medication. Co-pay is the amount of claim which is to be borne by the insured customer at the time of claim settlement. Most of the Health insurance policies have a co-pay clause if there are senior citizens included in the policy. The higher the co-pay amount selected by the customer, the lower would be the health insurance premium. Co-pay is the way of making customers liable and participating in the claim settlement process.



• Pre-existing waiting period:

Any illness or disease which exists before the inception of the health insurance policy is known as pre-existing disease. Health insurance policies usually have a waiting period only after which the health insurance claim for the existing diseases would be paid. The pre-existing waiting period would normally range between 2 years to 4 years for different health insurance products available in the market. Higher the pre-existing waiting period, higher would be the time before the claim is settled for pre-existing conditions.