Who doesn't like a good discount deal? However, while purchasing health insurance, you should consider not just the cost of it but the following points as well: #1 - Claim Settlement Ratio of the Insurance Company : The claim settlement ratio is the ratio of the number of claims approved to the number of claims received. This ratio/percentage should be upward of 85% for an insurance company. A claim settlement ratio of 85% means that for every 100 claims received by the company, it approves 85 of them. #2 – Pre-Existing Conditions & Cool Off Period: Suppose you or your family member who will be covered in the insurance plan is already suffering from a disease. Such diseases are called pre-existing conditions. Cool Off period is the time taken by your insurance to kick in. This cool off period can range anywhere between 30 to 180 days. During this period, if you raise a claim against pre-existing conditions, your claim will be denied. Therefore, it is always recommended to go for a policy that has the lowest cool off period. #3 - The Hospital Network: Each Health Insurance company has a network of hospitals empaneled with them or with their TPA. You should check whether your preferred hospital in your residence/work area is empaneled as a network hospital with the insurance company. Doing this will enable you to get cashless treatment at the preferred hospital. #4 – Type of Room Covered: This is an important parameter when you are considering a Health Insurance plan. Generally, all the other parameters associated with Health Care expenses are linked to room type. You will get higher coverage of all other features if your policy provides higher category room type coverage. You should also check for the limits available for ICU, which will be required in emergencies. #5 – Medical Conditions Covered: Each policy has a list of Medical Conditions which are not covered under it. For example, maternity is not covered in many plans, so if you are looking to start a family, you should look for maternity coverage plans.