Health Insurance Company Choose In India

The identifying the best health insurance company in India, it is essential that you understand what exactly the health insurance product offers. The features offered by most products in the market are similar and hence selecting the best health insurance company to suit your needs becomes a difficult task. Assuming that you are not fully aware about the different kinds of features offered under medical policy by different companies, I take this opportunity to help you make a better decision.

Basically there are two aspects to be considered when judging a company as the best health insurance company:
I. The quality of the product offered
II. The quality of after-sale services offered

The quality of product offered:

This pertains to the features and benefits of the product. A medical policy product offered by the best health insurance company would include-

.Basic coverage benefits – hospitalization expenses covered, longer duration for covering expenses incurred  prior and post hospitalization, daycare treatment claim made possible, greater limit on ambulance cost, etc.
.Additional advantages – Organ donation expenses covered, Ayurvedic/Homeopathic treatment costs are also reimbursed, more amount of cumulative bonus, facilitating health checkups, etc.
.Special features – No sub-limits on hospital room rents, lower co-payment percentages, lesser pre-existing illness waiting period, etc.
.Options – Option to cover entire family under a single health insurance policy.
.Premium – Affordable premiums on the benefits opted.

The quality of after-sale services offered:

The level of services provided by the company after selling the health insurance policy determines the standard of that company.

A best health insurance company will-

.Facilitate simple & instant new policy bookings and renewals through internet – The best health insurance companies    
 will allow you to browse the product offering online, calculate premiums instantly and purchase policy in simple steps.
.Facilitate immediate help to the customers when desired – This can be evaluated by contacting the company and asking for help prior to booking a health insurance policy. The best insurance companies will revert within no time.
.Facilitate hassle-free claim process with least documents – Claim settlement process proves to be the most crucial element in ranking an insurance company. A best health insurance company allows you to make claims online with minimum documents required. Moreover, the turnaround times i.e. the time taken by the company to settle claims and reimburse the amount.
.Facilitate cashless services – cashless services under a medical policy are provided in hospitals which has a tie-up with that company. It is essential to identify the network of hospitals that the company has tie-ups with. More the number of such hospitals around, the better it is during emergencies to avail a cashless treatments.

As I mentioned earlier, many companies offer similar benefits at different rates. Narrow down your scope of evaluation to location-based benefit and performance.

Changing Trends Of Health Insurance In India

Well established fact that the increasing cost in health care has been a source of constant concern for Indians. According to a survey by the WHO, it is projected that the rising cost of diagnosis and treatment will push millions of Indians below the poverty line. Another survey says that Indians on an average end up spending around 70 percent of their income on medicines and health care.

Because of several factors like low-standard of living that is prevalent in majority of the places, Indians have to shell out a lot while undergoing medical treatment or diagnosis. The other problem is that we still suffer from diseases in absence of good quality medicines and health care facilities.

Around 40 percent of India's population has to borrow money from outside the family to meet health care expenses and related costs. In another study it was shown that more than 15 percent families had been driven below the poverty line following this trend. Despite the best measures, health care remains neglected.

Health insurance refers to the coverage of medical expenses and offers numerous benefits that succor you in times of dire need. Life is uncertain and insurance plays a great role in securing it and making it safe for you. It saves you from huge financial loses that are incurred while tackling any medical emergency, accident, dismemberment and any eventuality. The contract between the buyer and the seller is annually renewable.

There are many companies in India that have further broadened the provision of health insurance benefits to its customers. The health care industry in India is booming and generating a lot of revenue. The industry is worth 70 billion dollars in the present scenario and the growth is projected to be manifold in the coming decade. The industry has grown considerably from a boom seen in the late 90's that perpetrated it.

Max Bupa is widely known for providing health insurance benefits. There is a plethora of health insurance benefits that is provided by the company. You can opt for an Individual health insurance policy to safeguard yourself. If you have a family, you may alternatively opt for a Family Floater policy. The further classifications include Mediclaim and Critical Illness policies. 

A mediclaim policy offers coverage to the insured party if he/she is hospitalized due to any reason. A critical illness policy comes into play when the insured party is diagnosed with a pre-defined critical illness. Also, the insured has an option to have a combination of mediclaim and critical illness policies to further broaden the insurance cover. Thus, we can see that health care is one of the most booming sectors in the country and the advantages are for you to peruse. So, it is always good to be medically insured so that you are ready to combat any emergency that might arise.

Rise In Travel Insurance Claim In India

Indian rupee falling alarmingly against the U.S.dollar, there is going to be a negative impact on the finances on various aspects. One of the fallout's of this phenomenon is related to travel insurance online claims. Industry insiders believe that in the coming times claim settlements related to travel insurance is going to go up by at least 10% if not more. Various general insurance providers share this view. With the beginning of 2013-2014 fiscal years, the devaluation of rupees is gone over 12%. Recently, the Indian rupee showed an all-time low value at Rs. 61.21 per USD.

With SEBI and securities regulators trying their best to check inflation there are surely remains some cause for concern for health travel insurance customers. This sector is going to be hit simply because maximum claim settlements related to this arena deal with dollars. With rupee, devaluing insurance companies have to absorb the claims rise because this is the only measure to stay away from increasing the related premiums.

In medical travel insurance, hospitalization is the main reason for making claims when people travel abroad. So, this is surely going to increase as a direct link to rupee devaluation. In order to understand this better it is necessary to know that there is a difference between making claims on medical travel insurance in India and doing the same thing overseas. Because the medical cost on foreign shores is quite costly, customers have to bear a part of the expenditure themselves. This is in addition to the premiums, which you need to pay.

The reason for this is the delectable associated with travel insurance online. This signifies that you as the policyholder need to bear a significant percentage of the total costs incurred due to untoward happenings when you are travelling overseas. There is a specified figure related to this, and it is mentioned in the company contract. With devaluation of rupees, the associated deductibles are also going to increase in the coming times with the policyholder bearing and increased amount of costs. Sadly, this is the only way for insurance companies to curb rising premiums to be paid, which can place a high financial burden on the customers in the times to come.

The projected rise in claims for the time being is between 8% and 10%. However, the actual costs may raise further deterring many from going for health travel insurance in the future. There is no doubt regarding the fact that when you are on foreign shores, travel insurance may seem like a helping hand to many. It can lighten up your financial burden when the unpredictable happens.

Incipient inflation is going to undermine the associated benefits of medical travel insurance in the coming times. With a rise in claims, the financial part be borne by the policyholder is also going to increase significantly. This is going to deter customers from making claims, especially those related to small amounts.

Travel Insurance And Carter The Growing Tourism In India

The growing tourism sector in India is creating awareness among the travelers and initiating them to go for robust travel covers that keep them safe even when the going gets tough. Lost flights, missed trains, stolen luggage or tickets are nothing new. However, with rising expenses in the modern world the traveler is becoming wary of unnecessary expenditure. You save through the year or even for years before it is possible to plan a dream vacation, which the whole family can enjoy. In such circumstances why let various issues undermine your dream travel time, when all you need is a hefty insurance cover to give you complete peace of mind. With travel insurance in India, vacationers or business travelers can move around with complete peace of mind and this in turn helps in the growth of the tourism sector. After all, happier a traveler is with their prior experience, the higher is their chance to go on a repeat tour. Forget foreign travel insurance, today the focus is on domestic travelers and their insurance needs.

Today there are myriad policies to choose from In keeping with the growing demands of people traveling across India, travel insurance coverage insurance companies offer a host of different policies to choose. There are different benefits associated with these plans. It is a good idea to look through the different features and advantages associated with various plans and then make the final selection. Those who are planning to travel anytime soon are going to benefit a lot from one of the many policies available.Shop around until you get what you want With numerous policies around, it has become easy for travelers to shop for the best one available. Whether you are considering foreign or domestic travel options, it does not matter since there is a policy out there that suits your need like hand in glove.

Cost effective insurance for your travel needs To keep travelers happy and coming back for more insurance agents today try to offer coverage that is comprehensive while keeping the associated costs low. Those interested can choose based on their personal preferences and available budget.

Taking care of health during travel Health travel insurance is another highly popular type of insurance, which the growing tourism industry in India is lapping up to a high degree. This provides coverage regarding medical expenses anywhere in the country. Insurance agencies nowadays project this kind of insurance to the highest degree in case of domestic travelers.

Health travel insurance can prove to be beneficial in case of hospitalization anywhere in India provides coverage for expensive procedures, and pharmacy bills. Besides, when there is a need for medical evacuation, you can rely on them for getting you home safely or to a hospital in your home front. More and more tourists are opening up to the benefits associated with travel insurance coverage and their number is all set to grow in future.