Monthly Archives: June 2017

Features of a modern health insurance policy

Health-Insurance_13june

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Understand your medical insurance cover well before the purchase…

A suitable medical insurance policy protects you against health risks. When it comes to the wellbeing of you and your family members, medical policies form an essential part of the measures you can take for reassurance. It ensures that you receive the care you required and mainly a properly financial backup when you need it. When you invest in medical cover, it will not only mean that you receive the best medical treatment available but also give you peace of mind that you have done all you can to ensure smooth path during unforeseen events or illness and accidents.

In India, there are leading insurance companies that offer medical insurance policies with varied benefits, customized requirements and at affordable costs. Visiting the branches or online sites, calling up customer service or agents are some of the ways to purchase a medical insurance policy.

Of these, online purchase is most convenient and suitable way as you can buy the policy at the click of the button on your computers, laptops or smartphone from house or offices. Besides, it lets you compare the policies in terms of benefits and features, discounts offered, terms and conditions, claim settlement ratio, etc. Right from your admission to doctor fees, ambulance expenses to other treatment costs, everything can be covered under your medical insurance policy. In addition, depending on the plan you opt for, your online health insurance plan can also cover permanent disability, long-term or custodial care needs.

However, before going for a purchase it’s your needs that have to be accessed thoroughly so that you buy the right policy. Some information that you require at the time of purchase would be you & your family members age, health conditions, any hereditary disorders, place of living and working conditions, income source, and risk capacity to purchase a health cover. When a customer visits online, he or she can fill up the appropriate inquiry forms and based on this information the company will suggest you a suitable insurance policy.

It is advisable; always consult your health experts to ensure you don’t fall in the pitholes of high premium costs and low coverage.

A typical medical insurance policy will cover: Hospitalization reimbursement due to disease/surgical treatment, domiciliary Hospitalization expense, pre & post Hospitalization expenses and other treatment costs.

The minimum age to start a medical policy would be 5 years while the maximum would be around 80 years to buy the policy. Children between 3 to 5 can be covered provided on or both parents are covered concurrently.

It is important to understand the inclusion and exclusion, and various clauses of the company before the purchase. There are some companies who may exclude some health concerns if they fall under the category of pre-existing diseases. As per any medical insurance policy, 24 hours hospitalization will be compulsory for a claim to be settled. Therefore, read the fine prints carefully, so that you understand the benefits and getter a quicker and hassle free claim. Also, if you run in any form of doubt, contact customer service team or online chat team to clear them before the purchase of your medical policy.