Buying health insurance for the first time? 5 things you must check
1/5
Check the insurer’s incurred-claim ratio
A good ICR (around 70–90%) shows the insurer is settling claims reliably. Extremely high or low ICR can signal problems.
2/5
Verify the claim-settlement ratio
CSR reveals how many claims the insurer actually pays. Prefer insurers that settle most claims quickly, ideally within 90 days.
3/5
Watch room-rent limits and waiting periods
Room-rent caps can reduce how much of your hospital bill gets covered. Waiting periods for pre-existing diseases may delay full coverage.
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4/5
Avoid high co-payments and deductibles
Co-pay clauses make you bear a fixed percentage of each claim. Deductibles require you to pay a portion first before the insurer pays.
5/5
Check network hospitals and key exclusions
Cashless claims only work at network hospitals, so check availability. Review exclusions closely to avoid surprises during claims.