We all wish for a long life. But, a long life is not enough, what one should wish is for a healthy life. A healthy life is a primary concern for everyone. With age, the physical body of an individual becomes weak and muscular capacity reduces. A health insurance policy is a contract between the insurance company and the policyholder, under this, the insurer has to bear much of the medical expenses that are incurred by the insured person. This coverage can either be in form of reimbursement of the medical expenses or it ensures cashless treatment for the injuries under the policy at the network hospitals. One has to pay a premium amount at regular interval of time as preferred and selected by the policyholder during the inception of the policy.
The “insured” is the owner of the health insurance policy; the person with the health insurance coverage. The insurance company ensures the policyholder can stay secured during medical emergencies in form of expense reimbursement and even cashless treatment. Bill amounts that arise due to medical and surgical expenses or due to the illness of the insured that may lead to hospitalization is also covered. But, at network hospitals, one can easily skip the last minute hassle bustle and he/she can get a treatment without any care of expenses related to the medical treatment.
There are a few rules that you must keep in mind whenever you are buying a health insurance plan:-
Go for accurate coverage: – It is essential to go for individual health insurance coverage, no matter what your company offers under a group health plan. There are many factors which make it completely obvious that corporate coverage is not enough and the reason behind the same is that it will get cease once you leave your job or retire. Moreover, a corporate health plan might not cover your family members and not all benefits will be there.
Reveal true details: – This is a huge mistake that most people do just to get the wide coverage, well it is completely wrong and because of this, you can face rejection at the time of filing claim. When you are buying a health plan, don’t try to hide anything from your insurers such as your age, your medical history or any important details they should know. A single wrong information would be enough to get rejected for the claim.
Choose the right sum insured: – It is also the biggest factor that requires your attention. Whenever you are buying a health insurance plan, make sure you are choosing the right amount that would be enough to deal with any medical contingencies. You should go for a plan that offers minimum coverage of around Rs.3 to 5 lakh in a small city and Rs.5 to 10 lakh in a metro. Don’t forget to increase the amount regularly just to counter the medical inflation.
Ensure all of the cashless facility: While opting for a health insurance plan make sure the insurance company does have network hospital close to your home where you can get the needful cashless facility. The best thing about the cashless facility is that you can focus more on treatment as the insurance company will take care about the cost of the treatment and you don’t have to pay anything from your pocket. Ensure that your preferred hospital is an in-network hospital before buying health insurance.
Choose a cover with lifetime renewability option: –Well this feature acts like a helping hand whenever you need it the most. It is true that with the growing age it would be difficult for you to get insured under a health insurance plan that offers wide coverage with multiple benefits. The option of Lifetime renewability makes sure that health insurance company can’t refuse your policy renewal even when you are old and are at higher risk.
Grab a health plan with restore limit: – It is essential to go for a plan that comes out with the restore limit option. Well, in most companies you will see that super top-upplans restore your health cover when you fully utilize your sum assured. It acts as a cover for unforeseen critical illness.
Don’t miss waiting period: – It is normal that most of the health insurance policies come out with the option of awaiting period that is about thepre-existing disease. Checkout the waiting period and choose the one that carries the minimum waiting period. It would help you in getting the needful cover as soon as possible.
Minimal sub-limit: – Go for a plan with minimal or no sub-limit. There are two forms of limit that insurance companies place. On hospital room rent and on specific diseases.
Well, now when you know about the most important rules related to buying health insurance, it would be easier for you to buy the best policy and offer the best of life to yourself and your family.
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