What is Health Insurance

Health insurance is the one which covers your medical expenses arising due to any sought of diseases or accident

The insurance company provides specific health cover on payment of certain premium amount

Types of Health Insurance Policy

  • Personal Accident Policy
  • Family Floater Policy
  • Individual Mediclaim Policy
  • Group/Employee Policy & many more

Precautions That one should take while selecting the health insurance plan

  • Ask your agent to explain the details of the insurance policy to you & all your family members
  • Never just compare the premium amount or any one single feature of 2 insurance companies
  • Check what standard features & additional features are the insurance companies providing in their policies to you
  • Till what age the individual can renew the policy & such other features
  • How stable the insurance company is of which you are going to buy the insurance
  • Make sure that the insurance company doesn’t change the premium amount & basic terms of policy frequently

Got the Health Insurance Policy….. Now what is to be done next?

  • Read the fine prints after getting the policy & even after the renewal of the policy
  • Make sure that you have properly mentioned the nominee details in the policy
  • Check all the details mentioned on the policy & if any mistake or error is made, get it rectified immediately
  • Maintain a separate record of all your health insurance policy in one file
  • Renew your policy on time; never make delays in renewing your policy
  • Inform all the material changes which are to be made in the policy
  • Preserve all your old policies for further reference

Why should one enhance the sum insured of your policy periodically?

  • Changing Life style of an individual
  • With increase in sum insured you also get additional covers like
  • Personal Accident
  • Critical Illness
  • Maternity Benefit
  • Organ Donor expenses
  • Ancillary Expense Benefit etc
  • With the advancement in technology& availability of better medical facilities is leading to higher cost of treatment
  • Increase in inflation

Things to keep in mind while filing the insurance claim

  • Send intimation to TPA/ Insurance Company
  • Filing of Claim form
  • Make the set of all Original Discharge paper, Medical Prescription papers & Medical Bills
  • Attach the Policy Copy
  • Keep one set of the copy of all the documents
  • Mention the policy no in all the communication you make to insurance company
  • While submitting Papers take Acknowledgement