Best health insurance plan for family in India

Some general guidelines on how to choose the best health insurance plan for your family in India in 2023.

Coverage: Look for a plan that offers comprehensive coverage for all medical expenses, including hospitalization, pre and post hospitalization expenses, day-care procedures, critical illnesses, and ambulance charges.
Network Hospitals: Check if the insurance company has a tie-up with a wide network of hospitals, especially the ones in your city, to ensure cashless treatment and easy access to medical facilities.
Co-payment: Understand the co-payment clause in the policy, which is the percentage of the hospital bill that you would have to pay from your pocket. Look for a policy with lower co-payment or no co-payment at all.
Waiting Period: Check the waiting period for pre-existing illnesses, which can vary from 2 to 4 years. Select a policy that has a shorter waiting period for pre-existing diseases.
Premium: Compare premiums of different insurance policies and choose the one that fits your budget. Look for policies that offer premium discounts for family floater plans and long-term policies.
Riders: Check if the insurance company offers riders like maternity cover, critical illness cover, personal accident cover, etc., and evaluate if these are required for your family.
Claim Settlement Ratio: Research the claim settlement ratio of the insurance company. This ratio indicates the percentage of claims that the insurer has settled over the total number of claims received in a given year. Higher the ratio, better the insurer.
Customer Support: Look for an insurance company that provides prompt and efficient customer support to help you in case of any queries or claim-related issues.

In summary, while selecting the best health insurance plan for your family in India in 2023, consider factors such as coverage, network hospitals, co-payment, waiting period, premium, riders, claim settlement ratio, and customer support to make an informed decision.