A list of things for ‘Amdavadis’ to know before choosing a health insurance policy
Health is extremely important to do anything in life and when you live in a fast-paced metro city like Ahmedabad, you put it severely at risk. However, health insurance can be your saviour, if you know which policy to opt for. Be sure to consider these factors before deciding on which health insurance policy will be best for you.
Cover
The total cover or sum assured of your health insurance plan should meet your medical needs. So, it is important to account for inflation and the cost of health care in your area while calculating it.
In Ahmedabad, as in most major metros, the cost of health care is pretty high. Since, Ahmedabad is also a fairly ‘high risk’ area, there is a greater chance of needing to make a claim. It is therefore, advisable to health insurance plan with a higher cover amount if you live in the city.
Budget
Your budget for the health insurance plan, is the amount you’re willing to pay as premium. This should be decided only after putting away enough money for your basic cash flow, including bills, rent, fees (if any), etc.
The cost of living in Ahmedabad is fairly low, compared to other metros. Therefore, you may be able to afford slightly higher premiums depending on your income. However, it is still advisable to find a health insurance policy that meets your needs, without burning too big a hole in your pocket.
Claim Settlement
The claim settlement ratio is an important factor to note while deciding the insurance company you wish to buy the policy from. Companies with higher claim settlement ratios (or lower claim pending ratios) are more likely to be better and more efficient at handling claims. A few health insurance companies in Ahmedabad, have good claim settlement ratios. You can choose one from among them.