685
5 min read
Preparing oneself to cope with future financial situations is important. One of the best things that you can do to prepare for such situations is to buy healthcare coverage so that you can cover the rising healthcare costs during health emergencies.
However, since medical emergencies are a rare phenomena, many people feel reluctant to buy health coverage. Many of them put the task of purchasing medical insurance to the last minute until it is very urgent. It is important to realize that buying health insurance cover in advance ensures that you sail smoothly through difficult health situations in future. Hence, it is advised to get good healthcare coverage to avoid last minute hassles.
If you are planning to purchase a health plan, there are many things that you need to know and understand. Generally, policy seekers have several queries to ask before buying a health plan. In this post we are discussing some such important questions that you must have the answers for before buying the best health insurance plan in India.
Coverage is the list of diseases or conditions that you get protection against and you are eligible to raise claims under your health insurance plan. These are the features of your health plan and to know what precise coverage your plan offers, you must thoroughly read the policy papers given by your insurer.
The conditions under which you cannot raise a claim for under your health insurance or you are not compensated by your insurer are called the exclusions of the policy. Exclusions are not covered under a health insurance plan. However, exclusions under a policy vary as per the insurance provider and the policy you choose. While some exclusions may be later covered after a certain waiting period as per the terms and conditions of your health policy. So, being informed of the exclusions and restrictions under your health plan is important. You must read the offer documents carefully and clear any doubt with the insurer before purchasing a plan.
If you want treatment from a certain physician or a particular health facility, you have to see that the hospital of your favorite physician is included in the network hospitals of your insurance provider. If it is not included, you may check other insurers who have your preferred facility under their network hospital list.
It is very common that your health requirements might change as per your varying lifestyle and age etc. Whether you expect it or not, it is likely to happen. You may like to make certain changes in your coverage to make it useful for you and your family. For instance, you may like to shift from a regular health plan to the best health insurance plan for diabetes if you or your parents get the disease. So, in such conditions you would like to make alterations in your policy.
You can add or remove riders at the time of health insurance renewal to make the plan suit your requirements. Or you can discuss with your insurer and make other changes as per requirement. Further, if you wish you can avail the Health insurance portability facility to port your best health insurance plan in India from one insurer to another without losing the benefits you have gained under your current plan.
If you stay in good health and do not use your health insurance plan during a policy year, you would be eligible for NCB or No Claim Bonus benefits. NCB is a monetary gain that is offered to the policyholders for every claim-free year under their health insurance. So, you can use this reward to lower your health policy premium and gain monetary benefit under your health plan. Further, you can use the health insurance plan calculator to calculate the premium you can save with your NCB discounts.
Every health insurance policy allows ways to the insured or policyholder to challenge the insurer in case their health insurance claim is denied. Many such methods require that the insured bring forth their disagreement with the insurer before an arbitrator who is a neutral third party person. This arbitrator would listen to the issues of both sides and will make a judgment. You may ask your insurance company to find out how much time it takes to resolve claim disputes.
If you have undergone a particular treatment and applied for claims, you may have to pay the compulsory deductibles from your pocket. However, it depends on the policy terms and conditions as well as the insurer as to how much deductible you may be paying. You can discuss the same with your insurer prior to buying the health insurance cover. Try to seek more information regarding this and the proportion of cost that the insurance policy would pay at the time of buying the policy.
Read More: Choose Your Health Insurance Plan Wisely: Follow this Medical Insurance Guide
To Conclude
A health insurance plan allows monetary independence at the time of unforeseen incidents. Thus, it requires careful thinking while purchasing a health plan. The policyholder must be aware of the benefits that he/she is entitled to before buying the plan. You may also compare and research plans before choosing the best health insurance plan for your family.
When you decide to buy a health insurance policy, the questions mentioned above would guide you in taking the best decision.
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
Universal Health Coverage Day is observed every year on December 12 to make sure that people around the world can have access to high-quality health services.
The quality of air continues to deteriorate in India, especially in the northern region with the air quality index (AQI) in the critical category. This.
From cleaning and renovations to decorations and get-togethers to eating delectable cuisines and sweets, Diwali is a time to indulge in all these and more..
Being insured is important but the process of buying insurance is critical. Always go for the right recommendation through the right channel. For buying insurance,.
A vibrant land of cultural coalesce, India amuses the world with its unique values and diversity. The festivals play a significant role in this regard..
Insurance is an indispensable requirement. However, not everyone can afford individual medical insurance to stay covered against major uncertainties, especially after retirement. If that is.
Cancer is a disease that needs no introduction. We all know how deadly the disease is and how rapidly it is spreading across the world,.
Like in other products, GST is levied on health insurance policies too. But did you know that an NRI or non-resident Indian with a health.
Health insurance provides financial support during medical and health emergencies. To continue availing the coverage benefits of a health insurance plan, it is required to.
Antibiotics are like marvels of medical sciences which have transformed the healthcare sector by limiting some of the deadly infections. From the earliest discovery of.
Speak to our advisor
Mahindra Insurance Brokers Limited (A Mahindra Group Company) - Unit-202, A-Wing, 2nd Floor, Amiti Building, Agastya Corporate Park, Kamani Junction, LBS Marg, Kurla West, Mumbai - 400070. Tel: +91 22 66423800
Licenced by IRDAI License No. 261; License Validity : 17-05-2025; Category : Composite Broker; CIN : U65990MH1987PLCO42609 Member of Insurance Brokers Association of India (IBAI).
Insurance is the subject matter of solicitation.
For a seamless experience, use the latest version of Chrome/Firefox/Internet Explorer.
Copyright © 2023 Mahindra Insurance Brokers. All Right Reserved.
Verify your number to activate your best premium offer
Please enter the OTP sent to XXXXXX 4099 to continue