How to build your health insurance portfolio?

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health insuranceNowadays, those people who pay tax and exhaust their segment 80C investments don’t comprehend that a lot of other expenses also get tax breaks. Among them is health insurance which comes under segment 80D. You may use this to claim further in case of any health issue plus one qualifies for tax deductions. Given this twin gain of monetary protection and tax saving, health insurance is a must-have. Here are few things you should keep in mind.

You should start early

It’s very vital for you to purchase a medical insurance as soon as you start earning. Start with a normal cover and step it up as you move up the ladder and start earning more. The earlier you start the better you will get because with time many diseases that are excluded will get included in the policy. By investing early, you will be secured for a long-term and there will be multiple benefits that you can get. Even the premium will be low if you invest at a young age.

Pass beyond the normal

Many corporates provide health insurance benefits to their employees and most of the time employees make the mistake of being satisfied with the coverage provided.  But, did you ever notice that it may be insufficient for you? Although every person is covered, what if you change your job. A change in the job can lead you towards several problems. Hence one should always opt for a personal health cover. One also can buy a top-up policy cover to enhance the existing coverage restriction. Top-up is a plan where hospitalisation could be included after a threshold limit, until which you need to bear the costs.

In view that insurance rates grow with your age, top up policies could be a way to make sure that the premiums don’t become too expensive. Pick out a complete medical insurance plan that gives out-patient and well-being preventive care advantages. You may opt for health plans for every member or a family floater plan depending on your desires.

Things which you ought to keep in mind

Constantly search for exclusions (these indicate medical situations that might not be covered while using the policy).

It’s also important to observe network hospitals. Tie-ups of insurance companies with hospitals and the nursing home across the country, which are known as network hospitals. In case of cashless claims, the policyholder can ask for a claim without paying a single penny, which is the most effective way for an insured person at a network hospital. Do check if your neighborhood health center is included in the list of hospitals in the brochure.  Also, don’t overlook time taken for a coverage to come back into force and out-of-pocket costs (which the insurance company will no longer endure).

It is advisable for you to start building a health insurance portfolio by searching and comparing with an online insurance web aggregator. They will assist you in choosing the best plan for your portfolio with the help of quotes and comparison service. With the available free quotes, you will be able to do the comparison and that will lead you towards selecting the best health insurance plan for yourself. Choose wisely by keeping in mind your requirements and rest assured that you will get the benefits of the plan chosen in the desired manner.

 Conclusion

Health insurance is a need in today’s world where health issues are rising at an alarming rate. We all are aware of the fact that a health insurance plan can act as a savior in hard times when you need proper medical assistance. If you are in search of an effective health insurance plan then you must take help of an online insurance web aggregator that deals in offering free insurance quotes from top health insurance companies in India. With the help of available free quotes, it will be quite easy for you to search out for the best health plan by comparing many available options.

It is the easiest and convenient way to insure yourself with an effective health cover within a few minutes. Keep the important things in mind and start your search today.

The article is written by Naval Goel- CEO and Founder of PolicyX.com.

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