We human beings are at times on a self sabotage trip with our body and health. We tend to get confused by all the conflicting health information that keeps coming our way and end up taking the wrong steps. Health robbers like junk food, hectic life style, and stress have clearly taken a heavy toll on our bodies and minds, resulting in high incidents of diseases and explosion of chronic ailments. To combat these situations, it is imperative and highly advisable to get lucrative health insurance plans in place, and feel financially secure in case of any major ailment or hospitalization.
Why do you need a Health Insurance?
Health Insurance is a tool which acts not only as an insurance cover in the event of unfortunate circumstances, but also signifies protection and support upon which you can count on when you encounter life threatening ailments or a normal hospitalization. With escalating costs of medical treatments/ hospitalization, a well planned health insurance cover comes in handy and alleviates many causes of concern.
These plans are designed to pay the medical expenses of a policy holder in the event of pre/ post hospitalization. The medical expenses that can be claimed by the policy holder may include the costs of room rent, nursing, Intensive Care Unit, medical practitioner’s consultation fees, medicines, diagnostic procedures and other relevant expenses.
Some health Insurance policies also undertake to compensate policy holders for the cost of pre- hospitalization expenses, post – hospitalization bills, day care procedure expenses, and domiciliary treatment cost in case of medical treatment taken at home, which otherwise would have required hospitalization.
Other Benefits of a Well Planned Health Insurance Cover
With the advent of new health insurance providers in the India (and in order to capture the health insurance market), insurance providers also undertake to reimburse for the expenses incurred on the ambulance and costs of alternate medical treatment like Ayurveda, Unani, or Homeopathy. Some health insurance policies also cover the medical expenses for an organ donors- treatment for harvesting of the organ donated and include payment for Permanent Total Disability or Permanent Partial Disability.
Things to Keep in Mind
It is important to note that some ailments like Diabetes, Hypertension, Arthritis, Psychiatric disorders, Epilepsy and some other medical treatments are not covered under the health insurance policy by most insurance providers. Before you sign for a health insurance policy, it is important to screen and evaluate the reputation of different insurance providers and gauge their ability of settling claims on medical expenses, in time.
It is also important to check out the list of hospitals linked to the insurance provider and the location of the same.
In case of renewal of health insurance cover, in case no claim is made, the policy holder is entitled for cumulative bonus, which in turn increases the sum assured, without a hike in the premium.
In case the policy holder provides any false claims or facts, the insurance service provider has the right to terminate the policy and all premiums paid for the same will be forfeited.
Different Kinds of Health Covers by Insurance Service Providers
Health insurance providers usually have plans and covers under their belt and each plan is designed to meet the varied needs of the health insurance seeker. Because of this, it becomes essential to carefully compare the premium amounts, evaluate the terms and medical expenses covered under the insurance plan, and invest adequate time in online/ offline research. On receipt of the health insurance policy, it is important to ensure that the name of the insured, date of insurance, expiry date of health cover and sum insured is duly and rightly mentioned.
All the best!