Quick Overview
Are you planning to get health insurance but not sure where to get started? Seeking financial protection for yourself and your family may not seem like a big deal until you actually have to make that decision.
In this guide, we explain how to get health insurance fast by following the right steps, carefully comparing plans, and understanding what to look for before you buy.
What is Health Insurance?
Health insurance is a financial agreement in which the insurer agrees to cover a portion or all of your medical expenses in exchange for a regular premium payment. These expenses can include doctor and surgeon fees, hospital or room rent, intensive care unit (ICU) charges, medicines, diagnostics, and treatment-related expenses.
For more details, refer to our guide on what is health insurance.
How to Buy Health Insurance Online?
- Research and Compare Plans
Visit insurer websites or aggregator platforms to compare health insurance plans. Analyze features like minimal waiting periods, no room rent limits, no co-payment clause, and no disease-specific sub-limits. Additionally, check key insurer metrics like claim settlement ratio (CSR), incurred claim ratio (ICR), number of complaints, network hospitals, and annual business volume.
- Obtain the Proposal Form
You can get the form for your preferred policy online, either through the insurer’s website or through an intermediary like Ditto. Complete the know your customer (KYC) formalities and provide details such as personal information, the chosen sum insured, and the complete medical history of the insured individuals. Provide the proposer’s bank details for payments and reimbursements, and nominee information.
- Pay the Premium
Complete premium payment via net banking, UPI, credit/debit card, or EMI. You can pay your premiums monthly or annually, or use the multi-pay feature to cover 2-3 years upfront. You will receive your policy document via email shortly after.
- Undergo the Underwriting Process
Depending on your age, medical history, and coverage amount, the insurer may require a tele-medical consultation or a physical medical check-up at an approved diagnostic center. If the reports indicate any concerns, such as pre-existing diseases (PEDs), you may be asked to undergo further tests. This involves providing additional medical details, such as past prescriptions or recent blood test reports.
- Get the Policy or Accept the Counteroffer
Based on the assessment, the insurer may issue the policy or make a counteroffer. The latter could mean increased premiums (with loading charges ranging from 10% to 100%), additional exclusions, or extended waiting periods. If you accept the counteroffer, the policy will be issued. If you decline, the premium amount will be refunded to the proposer’s bank account. The cost of the medical tests will be deducted from the refund if the policy is rejected or canceled.
Note: The offline process of getting health insurance is broadly similar to the online one. You can connect with an agent or visit the insurer’s branch, share your requirements, compare plans, and complete the documentation and payment process in person.
Documents Required for Purchasing Health Insurance
For more details, refer to our guide on documents required for health insurance.
Things to Keep in Mind Before Purchasing Health Insurance
Check Insurer Credibility
Check the insurer's credibility by analyzing its CSR, ICR, and other key performance metrics mentioned earlier in this guide. You can also refer to our guide on the best health insurance companies in India.
Disclose Medical Details
Non-disclosure of medical history can lead to claim rejection or even policy termination, potentially leaving you without coverage when you need it most. Be transparent from the start to ensure smoother claim approvals.
Watch Out for Drawbacks
Features like room rent restrictions, disease-wise sub-limits, and copayment clauses can force you into paying a portion of the medical expenses out of your own pocket. Avoid policies with these conditions and look for features like free health checkups, domiciliary coverage, bonuses, and restoration benefits.
Seek Expert Advice
Do not rely only on your own research when comparing plans. If you are unsure about getting health insurance that meets your needs, speak to an agent or intermediary for further guidance. A health insurance plan is a crucial commitment, so never make hasty decisions.
Choose Add-ons Wisely
Add-ons are a great way to customize your plan, as they offer specialized coverage at a relatively inexpensive rate. Choose these riders based on the extra coverage, features, or facilities you actually need.
Why Choose Ditto for Health Insurance?
At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why customers like Pallavi below love us:
- No-Spam & No Salesmen
- Rated 4.9/5 on Google Reviews by 15,000+ happy customers
- Backed by Zerodha
- Dedicated Claim Support Team
- 100% Free Consultation
Confused about the right insurance? Speak to Ditto’s certified advisors for free, unbiased guidance. Book your call or chat on WhatsApp with us now!
Conclusion
Getting health insurance is one of the most important financial decisions you can make. Whether you choose to buy online or through an intermediary, directly from an insurer or via a broker, the key is to invest time in research. Understand your needs, compare plans thoroughly, analyze the exclusions and limitations, and choose a plan that genuinely protects you. Check out our guide on the best health insurance plans in India to begin with your research. Start early, stay informed, and review your coverage periodically as your health needs evolve.
Frequently Asked Questions
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