5 Ways to Maximize Health Insurance Benefits

The value of good health is unmatched. However, factors like pollution, work pressure, sedentary lifestyle, and eating unhealthy foods are working against the effort one takes to stay healthy. In this situation, not only the elderly but even young individuals become prone to illnesses. Getting quality medical care is expensive in India. Therefore, health insurance must be an integral part of one’s investment planning. 

Opting for the right health cover is crucial so that you do not have to spend a lot of money from your pocket. Further, you must make the most of your health policy so that your family gets financial security in the best possible way. Here is a simple guide to maximizing your health insurance policy benefits. 

 1. Go for a family floater health cover

Opting for family floater health plans is an affordable way to keep your family secured. It is a better option and minimizes the hassles involved in managing individual health policies for every member. Of course, if there are members above 60 years or those with a medical condition, you must get a separate cover. However, if you are young and have a small family comprising spouse and children, you can go for a family floater cover. You can also get discounts by adding other family members to the same policy. 

 2. Boost your policy coverage with optional benefits

Most health plans include add-ons, which are riders or optional covers that the insured can select. The health insurance premium will vary, depending on the optional covers you have chosen. They include OPD cover, maternity benefits, daily allowance, and critical illness cover. With these optional benefits, you can maximize the advantages you get with your policy at an affordable rate. 

 3. Get discounts with a long-term health policy

Medical insurance plans typically have a policy tenure of one year. However, it is better to choose long-term health plans. Opting for a health policy with a longer policy tenure of 2 or 3 years is advantageous as you do not have to worry about renewing your policy every year. Moreover, you can check with your insurer about the discounts available on the health insurance premium. For instance, Care Health Insurance offers a comprehensive health policy with a 10% discount for a policy term of 3 years. 

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 4. Avail of annual medical check-ups

Most medical insurance plans offer the benefit of annual medical check-up that the insured persons can avail for themselves and their family members. So, it is a remarkable feature of a health insurance policy that helps your loved ones keep a constant health check and detect ailments before they create serious problems.  

 5. Get a cumulative bonus for a claim-free year

Finally, make sure you make efforts to keep illnesses at bay, which will reduce the chances of any emergency hospitalization. For each year you do not file a claim, you will get rewarded under the No Claim Bonus. Under this feature, the sum insured increases by a specified percentage for every claim-free year. Hence, the increased sum insured provides the necessary financial cushion in the hour of need.