12 essential tips for pocket-friendly family health insurance policy

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Also Read: Beyond medical emergencies: General insurance products you need to invest in for a stress-free life While comprehensive coverage is desirable, it often comes at a premium. Evaluate your family's healthcare priorities and strike a balance between adequate coverage and affordability. Opting for essential coverage coupled with add-on riders for specific needs can help tailor the policy while keeping costs in check.

Don't be swayed solely by low premiums. Examine deductibles before insurance kicks in. A policy with a slightly higher premium but lower deductibles might prove more cost-effective in the long run, especially for families with frequent healthcare needs.

Also Read: 7 key steps to follow for comprehensive healthy financial plan to ensure good health as well as wealth Insurance plans often come with networks of healthcare providers offering discounted rates.

Assess the accessibility and quality of these networks, ensuring your preferred healthcare providers are included. Opting in-network providers can considerably reduce overheads, making healthcare more reasonable. Explore the option of additional benefits and riders tailored to your family's needs.

While these may add to the premium, they can provide invaluable coverage for maternity care, mental health support, or alternative therapies. Evaluate the cost-benefit ratio of each rider to ensure they align with your family's priorities. Invest in policies that emphasise preventive care.