Easy steps to follow for medical coverage in minutes

Nothing’s easier than taking a mediclaim policy online. Simply log on and let the insurer guide you to sound medical insurance for you and your family.

Taking a medical insurance plan for yourself and your family is par for the course in today’s uncertain times. However, it is astounding that so many people today continue to rely on insurance brokers to process their application and premium payments. The insurance industry functions excellently on the Internet, making it easy for customers to buy a policy in minutes. Customers can also pay their premiums online, renew policies and also file for claims when the need arises.

If you’re looking to purchase mediclaim, simply follow these five steps:

1. Do your research. Every person’s needs are different, so a plan that works for another may not work for you. Calculate your family’s future needs to arrive at a desired sum assured. Make sure to pick a plan that covers all your requirements. If you are faced with a choice of two or three recommended mediclaim policies, ask an experienced insurance broker about the best one, or consult business or finance publications which give their opinion on the best mediclaim plans that year.
2. Select an insurer. Once you know which mediclaim insurance plan you seek, simply log on to the insurance provider’s website and look for ‘Health Insurance’ or ‘Mediclaim’. Once you click this button, you will be presented with a list of health plans that the insurer offers. These will be categorised under Individual, Family, Group, Corporate, etc. Try and include critical illness insurance in the plan that you select. Once you have made your choice, click the button marked ‘Buy online’ or ‘Buy now’.
3. Calculate your premium payable. At this stage, you will be presented with the plan highlights and an online premium calculator. Use this calculator to find out how much premium you will pay vis-à-vis the desired sum assured and the plan tenure. You can compute these figures in real time till you reach the desired numbers. Now you can proceed to fill the application form for the mediclaim policy.
4. Fill out the application form. At this stage, you must fill out the details asked of you in the application form on your screen. You will be asked to enter your name, age, professional qualifications, if you are a smoker or not, if you have any pre-existing diseases, your income profile, number of family members taking insurance (in case of family plans) etc. Fill in the latest and correct information – falsifying any information to avoid paying a higher premium will result in the policy being terminated at a later date.
5. Proceed to purchase the mediclaim policy. Once you fill out the application form, you can pay the policy’s first premium online using your credit/debit card or via Internet banking. However, some insurers insist on the applicant undergoing a medical test before completing the purchase process.

As mentioned earlier, deliberately or inadvertently falsifying information can lead to the mediclaim being terminated. You must also mention if you have purchased other insurance policies prior to this one – insurance companies conduct checks on every claim made in the application form. The insurer can reject your application if you have omitted to mention details of your other insurance policies.