Health insurance has become an increasingly important investment in India, given the rising costs of medical treatment and the growing incidence of lifestyle diseases. If you're planning to buy health insurance in India in 2023, there are several important things you should consider to make an informed decision.

1. Coverage: When selecting a health insurance policy, it's important to check the coverage provided. Make sure that the policy covers all major medical expenses, including hospitalization, surgeries, doctor consultations, diagnostic tests, and medications.



2. Network hospitals: Check if the insurer has a tie-up with a wide network of hospitals. Having a large network of hospitals is important as it ensures that you have access to quality medical care in case of an emergency. Also, make sure that the hospitals on the network are conveniently located.



3. Pre-existing conditions: If you have a pre-existing medical condition, make sure that the policy covers it. Some policies have a waiting period before pre-existing conditions are covered, so check the policy terms carefully.



4. Co-payment and deductibles: Co-payment and deductibles are the amount that you need to pay out of your pocket before the insurer starts paying. Check the co-payment and deductible amount in the policy and choose one that suits your budget.



5. Premiums: Compare premiums from different insurers before making a decision. While a lower premium may seem attractive, it may also mean a lower coverage. It's important to strike a balance between the premium and coverage offered.



6. Claim settlement ratio: The claim settlement ratio is the percentage of claims settled by the insurer in a year. Choose an insurer with a high claim settlement ratio as it indicates that they are more likely to honor your claim.



7. Waiting period: Most health insurance policies have a waiting period before certain benefits become payable. Check the waiting period for different treatments, such as pre-existing conditions, maternity benefits, and specific illnesses.



8. Add-on benefits: Some insurers offer add-on benefits, such as accidental cover, critical illness cover, and maternity cover. Consider these benefits when choosing a policy as they can offer additional protection.



9. Renewability: Check if the policy is renewable for life. This is important as you don't want to be left without health insurance coverage when you need it the most.



10. Exclusions: It's important to check the exclusions in the policy. Some policies may not cover certain illnesses or treatments, so make sure that you are aware of these exclusions.

In conclusion, buying health insurance in India in 2023 requires careful consideration of various factors. Make sure that you choose a policy that offers comprehensive coverage, has a wide network of hospitals, covers your pre-existing conditions, has a high claim settlement ratio, and is affordable. By keeping these factors in mind, you can make an informed decision and ensure that you and your family are protected against unexpected medical expenses.

If you have any additional points to add do comment below with your thoughts.