Mediclaim policy: A numbers-driven approach to buying health insurance

Instead of getting confused by the spiel of agents, use parameters like waiting period, claim-settlement ratio and price comparison to make the right choice

Buying a mediclaim policy is no cakewalk. It is a complicated product with umpteen features that need to be evaluated. Most buyers, even relatively sophisticated ones, are likely to find themselves at sea trying to figure out which product to opt for. To make your task easier, we have provided some of the key parameters you should consider while making a purchase.   

Waiting period: Look at the waiting period for both pre-existing diseases and specified list of conditions. Some policies have a waiting period of two years while in others it could be as long as four years. Look for