Health Insurance

You may not worry on your health, but you sure do care about your assets. With healthcare costs rising at more than 15 per cent a year, having a health insurance is becoming a stipulation.

These policies are of three types -- the first covers basic hospitalization needs; the second critical illness; and the third daily hospital cash reimbursements. Even life insurers offer physical condition covers with defined profit.

Under these, a pre-specified amount is paid as compensation, irrespective of the expenses incurred.

With or without a family, you need a health cover. For those who have a family, we advise a family floater instead of a standalone policy since the prospect of all family members needing hospitalization at one go is isolated.

Even if your employer offers group medical insurance, get your own cover. A change of job could leave you without insurance, and so could leave. And, getting a fresh cover after 45 is hard.

Importance

• Buy floater policy to cover total family
• Option for a cashless plan, keep a cashless mediclaim cards handy
• Ask insurers for a premium fee to find the cheap policy
• Keep an eye on exclusions and inclusions in the policy
• Undergo medical tests, if required
• Buy a health insurance even you have one from your employer