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  We all want to protect our family’s health at all costs and ensure their well-being. This goal can be largely achieved through family health insurance plans. You can either buy health insurance for every individual or get a family floater plan that covers all under one umbrella policy. But when you are selecting the best medical insurance for you and your family, it is advisable that you invest sufficient time into it. The process of research may be a tedious one, and what further complicates it, are the various unfamiliar terminologies attached to it.There are a few important things you should keep in mind to ensure that you choose the best medical insurance for you and your loved ones.

Claim Process

We all want our claims to be settled in a seamless, hassle-free manner. The faster the claim is settled, the better it is for the insured. Therefore, the claim settlement time, along with the claim settlement ratio, are the most important parameters to keep in check when you buy health insurance. Claim settlement ratio refers to the numbers of claims settled by the insurance company against the number of claims filed. The higher the claims settled, the better for the insured, as the probability of your claim getting settled would be on the higher end.

Right Sum Assured

A higher coverage or sum assured offers you greater benefits, but the premium payable against this is on the higher end too. Therefore, it is advised that you opt for a health insurance plan which meets your needs and requirements in terms of coverage as well as budget. Remember that the premium increases with age, and so does one’s need for a higher sum assured.

Network of Hospitals
Each insurance company has a network of hospitals where their health insurance can be used. You should always check the cashless options in the network of hospitals. Many of these hospitals, during the time of an emergency, offer cashless options where the insurance company directly settles the bill with the hospital. Opt for an insurance company that has a wide network of hospitals affiliated with it when you buy health insurance.

Daycare Procedures
With the rising number of daycare procedures offered by the healthcare sector, insurers are increasingly covering varied such procedures in their health plans. Opt for a plan that covers maximum daycare procedures.

Maternity Benefits
Along with the skyrocketing healthcare expenses, maternity and pregnancy costs are also on the rise. It is imperative for women to buy health insurance that offers maternity benefits. Closely consider the exclusions, sub-limit, outpatient expenses pertaining to maternity and the waiting period for claiming such maternity expenses.

Pre/ Post Hospitalisation
Several medical expenses have pre-hospitalisation expenses, such as doctor consultations, purchase of medicines, undergoing tests, etc.; and post hospitalisation costs like following up with the doctor, medication and several others. You need to select the best medical insurance plan for you that covers both pre and post hospitalisation charges.

Free Medical Checkup
There are various family health insurance plans that entitle the policyholder to a free medical check-up. Keep in mind that the result of this free check-up has no bearing on the premium when your policy comes up for renewal.

Lifetime Renewal
It is to be noted that you can renew your family health insurance for a lifetime. There is no stipulated age limit for such plans, which can be an extremely critical factor in case you wish to add your parents to the coverage. The best medical insurance policy is the one that offers lifetime renewability.

No Claim Bonus
Many insurance companies offer this incentive to their policyholders if they do not lodge any claim for settlement in the entire policy term. In such an event, the insurance company either decreases your premium payable, increases your sum assured or both.

Choosing the best medical insurance for you and your loved ones through the numerous ones available in the market today has become a daunting task. However, keeping in mind the above pointers while shortlisting the health insurance plan for you will go a long way in letting you make the right decision. 

PNB MetLife has launched a health insurance PNB MetLife Mera Mediclaim Plan which is combination of health insurance and life insurance which will ensure good health and good life.
Visit website to know more on Mera Mediclaim Plan, term plan and term insurance

Disclaimer:

The aforesaid article presents the view of an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability or medical complications incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ health advisor before making any decision.

Mera Mediclaim Plan is an Non-Linked, Non Participating, Combi Insurance Plan (UIN: 117Y102V01). It is advised to familiarize yourselves with the policy benefits and policy service structure of the ‘Mera Mediclaim Plan’ before deciding to purchase the policy. Please read the sales brochure carefully before concluding any sale. This product is jointly offered by 'PNB MetLife India Insurance Company Limited' and 'Religare Health Insurance Company Limited'. PNB MetLife is lead insurer for this product. The risks of this ‘Mera Mediclaim Plan’ are distinct and are assumed / accepted by respective insurance companies as per their underwriting guidelines. The liability to settle the claim vests with respective insurers, i.e., for health insurance benefits 'Religare Health Insurance Company Limited' and for life insurance benefits 'PNB MetLife India Insurance Company Limited'. The policyholders of the ‘Mera Mediclaim Plan' are eligible to continue with either part of the policy, discontinuing the other during the policy term. Goods and Service Tax (GST) shall be levied as per the prevailing tax laws which are subject to change from time. Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details. Cash payment is not eligible for tax benefit under Sec 80D of Income Tax Act, 1961.
Religare Health Insurance Company Limited Regd. Office -  5th Floor, 19, Chawla House, Nehru Place, New Delhi-110019 | IRDAI Regd. No.: 148 CIN - U66000DL2007PLC161503. Correspondence Address -  Vipul Tech Square, Tower C, 3rd Floor, Sector – 43, Golf Course Road, Gurgaon – 122009 Call:1800-102-4488|1860-500-4488

PNB MetLife India Insurance Company Limited - Regd. Office : Unit Nos. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, # 26/27, M.G. Road, Bengaluru – 560 001. IRDAI Regd. No.: 117 CIN.: U66010KA2001PLC028883 Phone: 080–6600 6969, Fax: 080 – 25585815, Email: indiaservice@pnbmetlife.co.in Write to us at: Office Unit No. 101, 1st Floor, Techniplex-1, Techniplex Complex, off Veer Savarkar Flyover, S V Road Goregaon (West), Mumbai – 400 062, Phone: 022 4179 0000, Fax: 022 - 41790203
The marks “PNB” and “MetLife” are the registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
Religare is a registered trademark of  RHC Holding Private Limited used under license by Religare Enterprises Limited and its subsidiaries. 

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