In today’s stressful scenario, medical emergencies and chronic illnesses can throw your life off-gear; this is where a well conceived health insurance plan comes in handy and protects you against the risk of incurring medical expenses. The payment made to the insurer lays the grounds for a more relaxed life and helps you estimate the amount that will come to your aid in times of medical based needs.
It’s quite common for people to just keep on paying premiums without knowing the features of their health insurance policies; therefore, it is important to understand the structure of such policies and check upon the various things that many other existing health insurance owners aren’t aware of.
Health Insurance Policy – A Closer Look
Reputed companies offering comprehensive health insurance policy boast of smooth processes, easy modes of premium payments and take care of your medical treatment expenses in case of hospitalization.
Typically, pre-hospitalization expenses consist of the charges incurred by the insurance company before one gets hospitalized. The period considered for the purpose in most cases is 30 days after the insured gets discharged.
Post-hospitalization charges include the consultation fees of medical experts/doctors/surgeons; medication and further checkups; and all other additional costs that are borne by the insurance company. The period considered for post-hospitalization insured costs purposes is mostly 60 days after the patient gets discharged.
Apart from pre and post hospitalization charges, you should also take care of the tax benefits that are provided in the plan opted for by you. Additionally, the cumulative bonus that accrue in case you do not make any claims even after having paid the premiums has to be calculated before purchasing a plan.
Types of Health Insurance Policies
Apart from scores of customized plans offered by different insurance companies, the most common health insurance policies available on the racks include:
1. Individual insurance plans come packaged with cashless hospitalization and often restore benefits with 100 percent no claim bonus. Most companies do not incorporate additional loadings during the time of renewal for claims.
2. Family insurance plans cover all members of a family under a singular plan and usually have no additional loading when renewed. They boast of 100 percent no-claim bonus in most cases and the sum insured may vary in proportion to the benefits procured by the insured.
3. Health insurance f or senior citizens often provide lifelong cover for the insured and his/ her spouse. Along with cashless coverage across a wide network of hospitals, a discount is offered for each claim free year and there are no claim-based loading in case of renewals.
Given below are the various good health insurance policies structures of various companies that will help you compare various health policies in India.
Various health insurance policies should be compared wisely before taking it for oneself or family. These plans can be purchased online or at local insurance offices.