Health Insurance has been the necessity of all times.  But, in the Covid scenario its need has been increased. So, buying the best Health Insurance is important.

Why we buy insurance, depends on the factor that is our financial condition strong enough to bear the losses in case we do not buy insurance ? 

Ask yourself that in case of any health emergency, are you prepared to bear the heavy medical expenses which can sometimes be in lakhs of rupees ?

Will you be in a financially stable situation in such a case?

 If not,  then it is wise enough to buy health insurance covering major diseases and good hospitals with affordable premiums. 

So, that you can keep your budget in place in case of unforeseen situations as well.

That is why buying health insurance is the right choice to make.

Here are some factors to be kept in mind before buying health insurance:

  1. Floater vs individual plan – Floater means family plan. With one premium, you can get insurance for your family members. Here, you get a single insurance cover for all family members. While in the individual plan, every individual gets a separate cover to insure themselves. Now, thinking practically, it is unlikely that all members will face an emergency at the same time, so in that case buying a floater plan can be the right decision. But, it will always vary according to individual perspective.
  2. Claim settlement ratio – You should ensure that the company providing health insurance should give a high claim settlement ratio.
  3. Which company has tie up with the hospitals located in your geographical location and also which company can provide cashless treatment. Because in case of emergency you cannot wait for the insurance company to fulfill their formalities as the need of money in case of emergency is very urgent.
  4. Look for the conditions and capping of the insurance company. Is there any limit on the amount being reimbursed for a particular condition. The more flexible the conditions are, the better the policy.
  5. Make sure your pre and post hospitalization expenses are also covered. As there are some medical treatments which continue after discharging from hospital. So, look for an exhaustive plan.
  6. See if the policy covers only treatment oriented expenses or other wellness expenses like physiotherapy, dental etc.
  7. Look if the insurance policy covers particular diseases only or is flexible in this regard. Or if there are some restrictions on the amount to be reimbursed for a particular disease. If there is such a condition, try to avoid that policy.
  8. What is the waiting period? The lesser the waiting period, the better it is.
  9. No claim bonus – What is the percentage of no claim bonus offered by the company. The higher the no claim bonus offered, the better it is.


So, it is important to understand your policy properly before buying it. And, if you need any professional help, feel free to contact Financial Friend for unbiased advice on health insurance and also offering the best health insurance policies with the most affordable premiums.