There are several things to consider when you buy a health insurance policy for yourself or your family
The way the use of technology and technology for treatment is increasing, due to which the cost of medicines and hospital is also increasing continuously. It is almost impossible for a common man or a salaried person to meet these expenses in a medical emergency. This is the reason why different companies provide medical insurance cover to their employees.
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Medical insurance is a health insurance policy given by the company to its employees, which is very useful in case of accident or sudden illness. The cover covers the employee as well as his family members (wife and children). It covers the medical expenses along with the condition of hospitalization.
However, the medical insurance policy provided by the company is valid or valid as long as you are in the company. As soon as you leave the company, you will not get any benefit from it. Meaning the day you leave the company, your policy will also expire on the same day.
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It has been seen that many employees depend on the health insurance of the company. They do not have any personal health cover of their own. In such a situation, we can say that the health of him and his family is guaranteed as long as the person is in job. The company will not take any responsibility after leaving the job. Even if you take a new health insurance policy after leaving the job, then there is a problem of waiting period, where you will have to wait for one to three years to take advantage of the policy.
You and your family are vulnerable during that time. If there is a medical emergency, then the burden of heavy expenses will be on you. In such a situation, you may have to face financial crisis. Now the question arises that after leaving the company, what are the other options with an employee.
Talking about India, the simple and necessary solution for an employee is to buy a separate health insurance policy along with the health insurance policy of the company, so that when he leaves the job, the second policy is always with him. For this, he can take personal health cover or can also take family floater health insurance. When you buy a health insurance policy for yourself or your family, you should consider several factors like additional cover, claim settlement ratio, pre-post hospitalization expenses, etc.
You can also buy health insurance in monthly Installment
Those looking to get health insurance to protect themselves and their families and save them from costly treatment expenses, now have the option of paying in installments along with the annual payment of premiums. They can deposit premium on monthly, quarterly and half yearly basis.
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IRDA has allowed general and single health insurance companies to pay in installments under individual product. This move by Insurance Regulatory and Development Authority of India has brought more flexibility in offering insurance products. In addition, the reach of the health insurance market has also increased.
