The steep rise in medical expenses has made the health insurance an absolute necessity. Many of us do not end up thinking of it as an integral part of our financial portfolio. What is making it even more necessary to own is the fact that our fast-paced lifestyle has made us prone to frequent illness. Health insurance helps you prepare for unforeseen medical emergencies. With the backing of these policies, you can claim the right to the best medical treatment.

Health insurance companies can then provide health coverage for various medical complications. Choosing the right plan is of utmost importance. So, have a look at this checklist. These are the questions you must ask to the insurer before narrowing down on your choice.

The 10 mandatory things in your Health Insurance Plan

• Ease of claim:The efficiency of the claims process can determine an excellent customer service. A faster and higher settlement is a vital factor while deciding upon a plan.
• Waiting period:The waiting period for pre-existing diseases differs depending upon the insurance providers. It can range from 2-5 years, and thus, one must take that into account.
• Family health insurance: One should take into account the age and possible medical needs of their family members. This way, one can get a plan tailored to their needs and budget.
• Network hospitals:Before finalizing on the health insurance plan, check the network of hospitals, the insurance company has on board. Check for the medical facilities and if it is in sync with your requirements. The hospitals must also have the option of cashless payment for emergencies.
• Maternity benefits:It is one of the essential health insurance benefits in any health coverage plan. One should check the waiting period involved, the sub-limits applicable, and coverage for outpatient expenses.
• Pre and post hospitalization:As a rule, one must look for a plan that offers health insurance benefits such as free elementary tests and diagnostics. The best insurance providers cover even medicinal costs and discharge bills.
• No claim bonus:Insured members can claim the bonus when no medical expense is filed in the previous year. The bonus is either an increment in the insured sum or discount on the premium.
• Lifetime renewal:It is hugely beneficial to have a health insurance plan with lifetime renewability. This way, one can deal better with unstable health conditions in the advanced years.
• Free medical check-up:One should opt for an insurance policy that gives policyholders access to a free medical check-up. It should not affect the premium payable when the plan undergoes renewal.
• Day-care procedures and Restoration:It is essential to ensure that your health insurance has a provision for day-care procedures. Many policies do not entail day-care facilities, and that is a limitation one should avoid. Furthermore, many insurers offer restoration benefits at additional premiums. By opting for this, your original sum insured is restored once it gets fully exhausted. This allows you to avail the benefit of the sum insured for the next treatment of another illness during the policy tenure. Usually, you have a choice between complete exhaustion or partial exhaustion of the sum insured.

The plethora of insurers in today’s market results in more confusion. It all comes down to the deciding factors of medical assistance, health security and optimum coverage. The main objective is to buy a plan fulfilling the need without exceeding the budget.