How do you buy a Health insurance plan?
If you just settle with the plan your agent sells or are happy knowing you have bought the cheapest plan, there is a bit of unlearning and a lot of learning in store for you.
A health insurance policy packs in several features and caveats which you must understand in order to compare and pick what suits you the best, after all isn't that what you do when you buy a smartphone?
In order to help you understand the important features of a health insurance plan and give you a ready comparison, we designed Mint Mediclaim Ratings (MMR) which was developed by SecureNow Insurance Broker Pvt. Ltd. MMR takes into account important features such as the claims settlement record of the insurer, co-payment of claims amount and waiting period on pre-existing ailments along with premiums to help you decide better.
In this section, we pick a few insurance plans from a particular age group of one category of sum insured, and give you the details of the ratings of each of the policies selected. This will help you understand not only the merits and demerits of the individual policy, but also compare it with other policies in the same category. We have rated family floater and individual plans. In the family floater categories, we have considered two sum insured amounts: `10 lakhs and `20 lakhs. Then, with each of these two sum insured amounts, we have three sub-categories based on age, where the eldest insured member is 35 years old, 45 years old and 65 years old. In the individual plans, too, there are age-based categories, and the sum insured is Rs.5 lakh.