– Family size and ages (young, senior citizens, kids). – Existing health conditions or family medical history. – City of treatment (metro vs non-metro hospitals).
– For metros, a minimum of ₹5-10 lakh is recommended for individuals. – For families, ₹10-20 lakh floater plans are better.
– Choose insurers with a large cashless hospital network near your location. – Check if your preferred hospitals are on the list.
– Pre-existing diseases usually have a 2-4 year waiting period. – Maternity and specific illness waiting periods also vary by plan.
– Some plans have limits on room rent (e.g., 1% of sum insured). – Higher room category may lead to higher out-of-pocket expenses.
– Some policies require you to share costs (e.g., 10-20%). – Prefer zero co-payment policies if budget allows.
– No Claim Bonus, Restoration Benefits, Critical Illness cover, OPD cover. – Check if these are included or available as add-ons.
– Don’t choose the cheapest plan; compare coverage, benefits, and claim settlement ratio.
– A higher claim settlement ratio (above 95%) indicates faster, hassle-free claim processing.
– Premium paid for health insurance is eligible for tax deduction under Section 80D of the Income Tax Act.
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