How to choose best medical insurance | Don’t make these 8 mistakes

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How to choose best medical insurance | Don’t make these 8 mistakes

Don’t Make These 8 Mistakes With Medical Insurance How to choose the best medical insurance?

How to choose best medical insurance how to choose best medical insurance in india how to choose the best medical insurance plan how to choose best health insurance
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How to choose best medical insurance how to choose best medical insurance in india how to choose the best medical insurance plan how to choose best health insurance

how to choose best medical insurance in india how to choose the best medical insurance plan how to choose best health insurance how to choose a medical insurance how to select best medical insurance best health insurance plans in india best health insurance plans for 2022 best health insurance in india? – quora best health insurance plan for family best health insurance company in india 2022 how to choose health insurance in india? – quora best health insurance plans in india how to choose health insurance in india quora best health insurance plans for 2021 best health insurance company in india 2021 best family health insurance plans in india best health insurance in india quora best family floater health insurance plans in india 2021 best health insurance plan for family

How to choose best medical insurance

Every year in India many people sell their assets like gold assets or break their FDs because they do not have medical insurance, in fact some people borrow money from their friends and relatives, according to research only 36 percent People are covered under health insurance in India, 64 paisa out of the total medical expenses is spent by the individual out of pocket Friends, the cost of health care in India is increasing very fast, the cost of hospitalization is low in few days. Might just take an accident A heart attack can break you physically as well as financially to wipe out your entire lifetime savings. Not only that, most of the people who take insurance make many mistakes which result in A huge financial setback honestly speaking i don’t blame them the simple reason is because of the complicated terms and conditions in the medical insurance document which is foreign to a common man so in this video we will discuss one of the most important money The fault of management which is medical insurance is done by us. I will identify the most common mistake we make with medical insurance and how to avoid them to choose the best medical plan for yourself and your family Hello friends my name is Sahil and this is my personal finance academy where I am common man Let me explain everything about Wealth Management in the language of Let’s Know Welcome to another episode of Investing, there are mainly two takeaways from this

Buying medical insurance is the first and foremost measure

If you are seeing this post and have not taken medical insurance for yourself and your family then immediately prioritize this medical plan and start looking for a good medical

Plan second takeaway is for those people who are either planning to take a medical plan or also for those who have already taken a medical plan as most of the people make many mistakes with the medical plan, which generally no one is aware of. Doesn’t even talk. how to get good medical insurance

So let’s start with the top 8 mistakes to avoid while taking a medical plan

mistake 1

The first mistake is that many people take medical insurance with a room rent limit, for example room rent can be as high as Rs 5000 per night, if you take a room of Rs 10,000 per night So you have to pay extra Rs.5000 per night out of your pocket. Not only this the biggest catch is that you need to spend money for everything including surgery because in this case you have taken a room of Rs.10,000, But your room rent limit is Rs 5,000. 50, so they will accept a claim of 50 on the total bill, yes on the total bill, so if your surgery cost is Rs 1 lakh, you will have to spend Rs 50,000 out of your pocket which is a big catch so When taking insurance make sure there is no room rent capping

mistake 2

The second mistake is that people opt for the co-pay option, thus assuming that you take a medical plan of Rs 5 lakh and the annual premium is Rs 10 000. Now they give you an option to take a co-pay of 20 and you will get an additional 25% discount so you do the math and calculate that with co-pay you will save Rs.2,500 per year and you take co-pay option let’s say a Have surgery and the total bill is 5 lakhs guess what you will have to pay 20 percent out of 5 lakhs which is one lakh from your own pocket as you have opted for co-pay to save Rs 2500 on premium, So make sure you don’t make this mistake of taking the co-payment option.

mistake 3

The third mistake is that when you take medical insurance people opt for no claim bonus instead of increase over some time, if you do not make any claim every year then you will get an option to get some bonus every year, for example So let’s say you get a bonus of Rs.2000 on your annual premium of Rs.10,000. Now that sounds like a good deal, what if after three years you end up in a surgery that required 7.5 lakh friends, healthcare costs in India are rising rapidly, today 5 lacs may sound like enough but it will not be enough after 5 years so you have the option to increase your summer shot from 5 lacs to 6 lacs then 7 lacs and so on in case of no claim In case the summer shot can be doubled, for example if you have taken medical insurance of 5 lakhs, it can be doubled to 10 lakhs in case of non-claim, but people instead of increasing some assurances No claim bonus, so make sure you don’t get lured by unclaimed claims.

mistake 4

the fourth mistake to increase submissions is a check on a pre-existing illness when you take a medical plan, ignoring the waiting period clause. For example if you have diabetes you will not be covered by diabetes for a certain period of time or if you have heart problems then you will not Will be covered on medical expenses for heart problem let’s say for three years if anything happens during that period you will have to bear the cost in this case you need to make sure that the minimum waiting period of medical insurance duration is

mistake 5

Fifth mistake is ignoring the sub-limit on diseases Let’s say you take a medical plan of Rs 10 lakh and end up with surgery related to a heart problem and the total bill is Rs 5 lakh. Now you would think that you have to pay No need to do anything because you have at least 10 lakhs medical insurance but you can pay out of your pocket Medical insurance has a supplement on various diseases so if you took 10 lakhs medical insurance But there is a sub limit of Rs 2.5 lakh on heart related issue so you will pay Rs 2.5 lakh out of your pocket so make sure you check the sub limit on illness.

mistake 6

The number six mistake is not opting for restoration benefits so think of it this way you have opted for Rs 5 lakh medical plan and you end up with a medical problem and the total cost is 4.5 lakhs. Now you have only There will be a limit of Rs 50,000. Is there again any problem that needs reduction then you have to pay 1.5 lakh out of your pocket so always opt for restoration benefit to avoid such problem.

mistake 7

number seven mistake from hospitalization Not covering before and after charges, it is not only surgery cost or hospital treatment requires money, you also need to spend a lot of money on various diagnostic tests like MRI City Skin and many more And these charges are before and after hospitalization, generally people ignore them, but they can also cost you a lot so make sure you have your medical insurance before and after your hospitalization covers the fee

mistake 8

The number eight mistake is not opting for the cashless facility and not checking the hospital network included in the policy, so most of the medical insurances have the option of cashless facility where you do not need to pay anything in advance. Everything cashless Make sure your policy covers cashless facility Also make sure that the best hospital
Your city includes the hospital network of insurance policies. Many people simply take a medical plan based on low annual premiums and ignore all these important points. These are the most important factors that you need to keep in mind before taking medical insurance. If you are single then take individual medical insurance but if your family is with wife and kids then you can offer family floater medical insurance where your whole family will be covered in one medical plan now next question is this how to get medical insurance then there are many options by which you can reach your local agent or you can opt for online medical plan now there are few options for online medical plan you can go to policy market can check more plans but one thing which lags behind in policy market is that they do not provide comprehensive information about the pros and cons of medical plan, there is another option you can check ditto website that me what about ditto I like He has explained all the important points that a person should keep in mind while taking an insurance policy. Also he has highlighted the pros and cons of each medical plan so that you can choose one as per your requirement without getting confused with hundreds of medical plan options. choose the plan. I have provided both the links in details now i will let you decide the best option to take medical plan i hope this video will be eye opener for those who have not taken medical plan and help you to avoid all the mistakes Will get with medical plan

If you liked this post then share it with your friends and relatives so that they can also avoid all these mistakes I will see you with another video till then take care

How to choose best medical insurance how to choose best medical insurance in india how to choose the best medical insurance plan how to choose best health insurance

how to choose the best medical insurance plan how to choose best medical insurance in india how to choose the best medical insurance plan how to choose best health insurance how to choose a medical insurance how to select best medical insurance best health insurance plans in india best health insurance plans for 2022 best health insurance in india? – quora best health insurance plan for family best health insurance company in india 2022 how to choose health insurance in india? – quora best health insurance plans in india how to choose health insurance in india quora best health insurance plans for 2021 best health insurance company in india 2021 best family health insurance plans in india best health insurance in india quora best family floater health insurance plans in india 2021 best health insurance plan for family

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