Unlike in times gone by, health insurance today qualifies as a necessity. With a demanding lifestyle that leaves little time for personal healthcare, medical complications can be severe and unpredictable. With soaring medical costs, they are also often unaffordable. As such, it is imperative that every individual remains armed with a medical insurance policy that indemnifies large expenses incurred in personal health.
A health insurance policy, simply put, is a contract between the insured and the insurer where the latter pays for medical and surgical expenses of the former, in exchange for an annual payment called the premium. Over the years, the insurance market has grown to cater to a large population that is susceptible to an array of illnesses and treatments. In as far as obtaining an insurance policy is concerned, the Indian consumer is spoilt for choice. Finding a policy that is best suited to one’s needs and the pocket is a challenge that requires methodical research and comparison. However, the primary question that remains is where does one get an affordable Health Insurance?
The insurance market in India today comprises players both in the public and private sectors. Most banks and financial institutions have a dedicated health insurance wing that offers a wide range of policies – each of which serves different purposes, covers different illnesses and is, therefore, priced accordingly. Depending on one’s age, family history, prior illnesses and budget for premium, companies are adept at offering policies that can suit individual requirements. For those who prefer technology, health insurance is now just a click away. Insurance providers have made the process of obtaining a policy all the simpler by bringing all information to your doorstep. Taking the ease of medical care one step further, most companies today offer their employees an insurance policy as part of their pay package, i.e. the company pays the premium for its employees’ medical policy that could also extend to their immediate family members.
Choosing a health insurance plan can be quite a daunting task. However, a careful study of products in the market, combined with a reliable provider, can get you a policy that is tailor-made to suit your needs. There are several online tools that help people identify and compare products, both in terms of structure and pricing. While obtaining an affordable health insurance plan is not difficult, obtaining the right one at a reasonable price is what makes the process a challenge.