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Monday, October 5, 2020

Here are 7 things to keep in mind when buying health insurance, choosing the wrong policy in a hurry can hurt you

Here are 7 things to keep in mind when buying health insurance, choosing the wrong policy in a hurry can hurt you

  • A policy that covers the maximum cost of treatment should be taken
  • Before taking an insurance plan from any company, one should look at the network hospitals of that company

The Corona epidemic in the country is not going away. In such a situation people are taking health insurance for proper treatment and financial security. If you too have not taken out an insurance plan yet and you are considering taking out a health insurance plan to cover the treatment of corona or other ailments these days we are telling you what to look for when taking out a health insurance policy.

Understand exactly what will be covered in the policy

Insurance companies are offering many types of insurance policies. Each insurance company has its own rules according to which they make the policy. Understand how much and what will be covered before buying a health policy. A policy that covers a maximum of items such as test costs and ambulance costs should be taken out. So you don’t have to spend money out of pocket.

Whether pre-existing diseases will be covered or not

All health insurance plans cover all previous illnesses. But they are only covered after 48 months. Some cover it after 36 months. However, it is important to state the pre-existing illnesses when purchasing a policy. This does not cause any difficulty in claim settlement.

Network of hospitals

Before investing in any health plan make sure you consider the network hospitals that come under the plan. Network hospitals are a group of hospitals that allow you to redeem your current health plan. Always in the same plan which offers maximum and good network hospital in your area, otherwise your investment in emergency situation will not work.

The choice of co-penny can be overwhelming

People often take co-pay facility to save some money and reduce the premium. Co-pay means that in the event of a claim, you will have to pay the policyholder some% (10%) of the cost. Choosing a co-penny doesn't have much of a premium discount, it can empty your pockets if you get sick.

Do not hide your medical history

Many people do not properly disclose their medical history in the application form when taking out a health policy. Some people do this because they know that stating a condition like diabetes, high blood pressure can lead to rejection of their application. Failure to provide information about your medical history will result in insurance companies deeming you false and may reject your claim.

Upgrade the policy cover to 'Super Top Up'

Seeing the rising cost of treatment and the Covid-19 epidemic, people feel that the amount of insurance cover is not enough. The cover can be upgraded from 'Super Top Up'. The Super Top Up Health Plan offers extra cover for people who already have a health policy. It is available at a much lower price. This is a good option for those who already have insurance cover as they get more cover at a lower price.

The number of continuous insurance claims increased during the Coronation Period

Outbreaks appear to be exacerbated in India. As the number of infected people in the country continues to rise, so has the increase in health insurance claims. According to the General Insurance Council, more than 3.18 lakh claims have been received for a total amount of Rs 4,880 crore as on September 29. As on September 29, insurance companies have settled 1.97 lakh claims worth Rs 1,964 crore.


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