Outlook Money
While in your 20s, it is the best time to invest in health insurance. Premiums are low when one is young, and it ensures that one is protected against unforeseen medical costs.
1. Widespread Coverage- One should choose a plan that offers extensive coverage, including: - Hospitalisation - Pre and post-treatment care - surgeries - Treatment for critical illnesses or chronic diseases. Some plans may also cover mental health treatments and alternative therapies like Ayurvedic and homoeopathic treatments.
Premiums are tightly tied to one's age and health, so buying insurance in the 20s locks in cheaper rates. Compare rates from different insurers, but don't compromise on critical coverage for affordability's sake.
One should choose a company that boasts of cashless hospitalization at the maximum number of hospitals. This eliminates the necessity to prepay for hospital admission as the insurer handles the claims directly with the hospital.
Understanding the waiting period for pre-existing diseases, which varies from insurer to insurer can be helpful. Also, excluding conditions or treatments not covered by the policies to avoid surprises later is helpful.
One should also check the add-ons and No-claim bonus rewards before choosing a plan.