' Things you need to compare when choosing a Health Insurance

Things you need to compare when choosing a Health InsuranceIn the age of online shopping, it is practically a sin to buy the first item you see. These days, people spend a lot of time comparing prices (between the multitude of online shopping websites) and potential benefits for something as simple as a flower vase.

If you spend so much time on a simple flower vase, surely you need to do the same for something as important as health insurance.

Minimum waiting period

When it comes to pre-existing illnesses, all insurance providers have their own rules and regulations. For example, if you already have a medical problem before you take an insurance plan, there is a certain waiting period before which you cannot make a claim for treatment. This waiting period can vary between different insurance providers. It is always better to go with a plan with a lesser waiting period.

Claim settlement ratio

Every insurance provider receives thousands of claims each year. However, not all claims get settled by the providers. Claim settlement ratio is the number of claims that are settled by a particular insurer against the total number of claims it receives during the year. When you are choosing between health insurance plans, it is better to opt for a insurer who has a higher claim settlement ratio.

Network hospitals

Typically, health insurance companies provide a list of hospitals where you can avail cashless treatments for different medical ailments. When you purchase a health insurance plan for yourself or your family, make sure that you find out which hospital networks are associated with the insurance provider. If you find that there are not enough of the associated hospitals in your area, it might not be a good idea to take up the plan.


Last but not the least; you need to compare the premium. How much is the insurance plan going to cost you? There are many online websites that provide a comparison on how much a medical insurance plan costs among different insurance providers. Once you identify a plan that suits your budget and, also offers you the different required benefits, you can make the purchase.


With many different insurance companies in the country, it can be a bit difficult to make the right choice. You don’t want to take out a health insurance plan only to realise later that it does not fit into your financial or medical requirements. A health insurance policy is like an investment on your health and your future. By carefully analysing and comparing different options, you can make the best decision possible.

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Things you need to compare when choosing a Health Insurance

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