We often revamp our closet or renovate our house or change the interiors, similarly, it is very vital to re-evaluate the health insurance on a timely basis. Health Insurance might sound bothersome or financial drainage initially but eventually, it turns out to be a boon at the time of medical emergencies.
Before investing into a family insurance plan, you might have to think carefully and take the step ahead because if you don’t do that, you might end up opting for some other plan which is not a part of your requirement list.
We go through a number of websites before buying a new Laptop or TV, so why don’t we really take some time out to re-evaluate health insurance plans. The question is “Do we actually need such timely re-evaluation?”
Below mentioned are few situations where re-evaluating your family insurance plans proves to be a wise decision:
Better Workplace with Salary Hike
Switching to a new workplace with good salary hike is indeed a thing to rejoice about. Also, this is the best time to move one step ahead and consider re-evaluating your health insurance plan. With rise in income, there comes a change in life as well. You can look for some better coverage with some extra perks.
Tying the beautiful knot of marriage
The wedding is the most precious moment in one’s life. With the beautiful bond of marriage, comes some added responsibility. At this point, you must look for a good health insurance plan that provides adequate cover for your spouse and saves your money at the same. You can review your existing family floater plan or go for a separate plan if required.
Addition of a new member in your family
Welcoming a new member to your family comes with lots of new responsibilities and expenses. Right from the prenatal care to delivery charges and other pediatric expenses, the parents are loaded full of expenses that come along with the new member. It is important to re-evaluate your existing family insurance plan and make the new member a part of your current plan.
Stepping towards the retirement
Retirement sounds to be exciting as you start living your life with ease and fulfilling all your dreams to visit places. However, retirement without planning is like “pizza without cheese”. You may have several things to do in your bucket list after your retirement but your medical
expenses won’t allow doing it. Opting for a senior citizen plan is always recommendable as it helps to meet the rising cost of old age ailment’s treatment and letting you enjoy your retirement at the same time.
No good experience with your current insurer
If you have any prior unpleasant experience with your current insurer related to claim settlement or reimbursement, do not hesitate to switch to other insurer that would offer you with a better deal. Instead of compromising, it’s always better to move on with the one which fulfils its promises.
Why should one re-evaluate health insurance plan?
As it is rightly said, “Progress is impossible without change”. In the same way, changes (re-evaluation) in your health insurance plan can bring up new sweet fruits of benefits:
You end up saving some extra money
No one hates getting some extra money in their wallet, neither there is any rigid rule that you need to stick to your current insurer for the rest of your life. Moreover, in today’s Internet Era things have become much better and easier, and you can find the best options at just one click. So, do not hesitate to shift to some other insurer that offers a plan with similar or better coverage at a cheaper price.
Change in the network hospitals
There might be cases wherein the insurer may suddenly change the list of network hospitals. In such a situation, it would be a matter of hassle to commute to another hospital far away from your vicinity. Moreover, there are chances that the other insurers might have a good list of tie-ups within your proximity. Here, you must look to for the insurance companies with a bigger network of hospitals which are within your area and are cost-effective at the same time.
Attractive policy features
It always better to look around before settling for the one, also if you don’t shop around you would never have an idea of what others are selling. There are chances that some other insurer is providing the same policy as your current one and that too at a lower price than yours.
Various options for senior citizens or other family members
As a person’s age increases so are health issues. If a senior member of your family is still covered under a family floater, it’s time to shift them to a senior citizen plan. These plans are cost effective and can be chosen with tailor-made plans.
Summarizing, it’s always better to review the policy periodically. Because re-evaluating from time to time proves a win-win situation in all circumstances which gives you a good value of your hard earned money and gives you peace of mind at the same time.
Attributed to Mr. Rakesh Goyal, Director, Probus Insurance Broker Ltd.
Company Profile: Probus Insurance Broker Ltd.
Probus Insurance is one of the leading Tech Solution Provider that serves as the one point solution for all your insurance related queries and needs. It offers products online/Offline for Indian customers across categories in General & Life Insurance (Health, Car, Life, Travel and Home Insurance).Impeccable research and simple intuitive technique to buy insurance, backed by strong R&D and technology defines the Brand Philosophy.Established year 2002, Probus has shown manifold progression from Offline to a leading Online Brand, in all verticals & has evolved to become one of the principal insurance broking firms in India.
With over 1200+ insurance plans & 230cr Insurance premium in FY 16-17, customarily from retail clients, and 1,29,799 policies sold, Probus has established a record-breaking performance, being among the Top 5 Insurance Brokers in India.
Driven by expertise, Probus has tie up with almost all the marquee insurance companies. The brand takes prides in itself on being a one-stop solution for a wide range of services like Best Tailor Made Insurance Solutions, Claims Management, Insurance Audit and Renewal Reviews. The resilience to the turbulent times which the industry has witnessed in the past 3 years is a testimony to the robust processes and Claims management techniques at Probus.
At the core, Probus dynamo is a team of proficient risk engineers and underwriters. Armed with diversified industry know-how, the firm constructs a unique benefit in understanding several businesses and their risk profiles. Its state-of-art processes and customized systems for auditing and analysing existing insurance portfolios of the clients and robust Claims Management techniques makes it one of the most trusted Insurance broker to work with.
With rapid growth of internet and increased penetration, resulted in the online business vertical in FY16. Driven by its core values on Commitment &Trust; Probus has written a success story for itself, and with a very strong clientele base has developed in this Indian market.
