Page 28 - The Insurance Times December 2024

Health Insurance

How to choose a

Health Insurance

Plan that fits your

evolving needs Head Health Products,
Priya Deshmukh
Operations & Services,
ICICI Lombard

When you are single, you might focus on plans with basic coverage and low premiums. As you get
married, look for family floater plans that cover your spouse. When you have children, ensure the
plan covers pediatric care, vaccinations, and other child-specific healthcare needs.

A recent report by Apollo Hospitals, one of India's history to identify immediate coverage requirements. Con-

sider potential future health issues based on your family
leading healthcare groups, paints a concerning pic-
ture of the nation's health.
medical history and lifestyle choices. For example, if there
is a history of diabetes or heart disease in your family, you
Released in April, the report dubbed India the "cancer capi- might want a plan that covers these conditions extensively.
tal of the world," highlighting a worrying rise in cancer cases
and other non-communicable diseases. The findings are stark: Your health insurance needs also change with different life
one in three Indians is pre-diabetic, two in three are pre-hy- stages!
pertensive, and one in ten battles depression. Chronic condi-
tions such as cancer, diabetes, hypertension, cardiovascular When you are single, you might focus on plans with basic
diseases, and mental health disorders have become alarm- coverage and low premiums. As you get married, look for
ingly common, reaching what the report calls "critical levels."
family floater plans that cover your spouse. When you have
children, ensure the plan covers pediatric care, vaccinations,
This isn't an attempt to incite fear, but rather a
and other child-specific healthcare needs. Finally, as you
stark reminder of our current reality. approach retirement, opt for plans with extensive coverage
It underscores the urgent need for comprehensive health for critical illnesses and hospitalization, as medical needs
measures and plans to address and manage these growing typically increase with age.
health challenges.
The key aspect to remember is that securing a health insur-
Selecting a health insurance plan isn't just a good financial
ance coverage early on in life provides both immediate and
choice - it's what you need, to be able to live with peace of long term benefits. Certain Coverage options might be un-
mind, especially when health concerns hit you!
available or be more expensive as you age.
Understanding Your Health Insurance

Needs Key Features to Look for in a Health In-
surance Plan
First, it's important to understand your health insurance
needs. Start by assessing your current health and medical Coverage: Look for plans covering inpatient and outpa-

26 December 2024 The Insurance Times