New Delhi, Aug. 28 -- As medical costs continue to rise, health insurance has become an essential part of financial planning. However, choosing a policy based solely on a low premium or a high sum insured can lead to complications and unexpected out-of-pocket expenses when a claim is filed.

Before buying a new health insurance policy, policyholders should conduct due diligence and carefully evaluate the coverage, exclusions, waiting periods, claim conditions and costs involved. This can help ensure the policy provides meaningful financial protection during medical emergencies.

The first step is to identify your core healthcare needs. These can vary depending on your age, health condition, family size, existing medical conditions and fin...