This pandemic is a harsh reminder that no #healthinsurance is not an option.
Have heard of families getting financially ruined because of COVID related hospitalization cost.
In this thread I'm covering 10 vital aspects to consider before buying Health Insurance Policy.
Have heard of families getting financially ruined because of COVID related hospitalization cost.
In this thread I'm covering 10 vital aspects to consider before buying Health Insurance Policy.
1. Maximum Coverage
There are several crucial points like the room rent, ambulance cover, etc. which have an expense limit associated with it in TnC of the policy.
Choose a plan which covers all the essential pointers and an extensive range of diseases.
There are several crucial points like the room rent, ambulance cover, etc. which have an expense limit associated with it in TnC of the policy.
Choose a plan which covers all the essential pointers and an extensive range of diseases.
2. Claim Process
Research company’s background, the network of hospitals, settlement process, company’s management, claim settlement ratio etc.
Also check sublimit clause, inclusions & exclusions.
Research company’s background, the network of hospitals, settlement process, company’s management, claim settlement ratio etc.
Also check sublimit clause, inclusions & exclusions.
3. Network Hospitals
Insurance cos. have tie-up with various hospitals. Insured can avail cashless treatment at these facilities.
At other hospitals, you've to pay first & claim later.
Go for an insurer which can offer a high number of network hospitals.
Insurance cos. have tie-up with various hospitals. Insured can avail cashless treatment at these facilities.
At other hospitals, you've to pay first & claim later.
Go for an insurer which can offer a high number of network hospitals.
4. Age criteria
You must check min. & max. entry age limit criterion.
While purchasing a policy, keep in mind the age of the member to be insured, specially the eldest member.
Download free ebook to understand health insurance in simple words- elearnmarkets.com/financial-guid…
You must check min. & max. entry age limit criterion.
While purchasing a policy, keep in mind the age of the member to be insured, specially the eldest member.
Download free ebook to understand health insurance in simple words- elearnmarkets.com/financial-guid…
5. Pre/Post Hospitalization Coverage
You visit the doctor, undergo tests & buy medicines, before & after the treatment at the hospital.
Get an insurance plan that covers all the expenses incurred during these periods.
You visit the doctor, undergo tests & buy medicines, before & after the treatment at the hospital.
Get an insurance plan that covers all the expenses incurred during these periods.
6. Health Check-ups
The cost of health check-up tests is huge. Buy a policy which ensures free health check-ups.
Read about health insurance on #ELMSchool- elearnmarkets.com/school/units/h…
The cost of health check-up tests is huge. Buy a policy which ensures free health check-ups.
Read about health insurance on #ELMSchool- elearnmarkets.com/school/units/h…
7. Maternity Benefit
Pregnancy costs have also gone up with the other increasing medical costs.
For women, it is necessary to buy a plan which offers these benefits.
Keeping Maternity & other factors, read how to choose a health ins. plan - elearnmarkets.com/blog/simple-gu…
Pregnancy costs have also gone up with the other increasing medical costs.
For women, it is necessary to buy a plan which offers these benefits.
Keeping Maternity & other factors, read how to choose a health ins. plan - elearnmarkets.com/blog/simple-gu…
8. Waiting Period Clause
This clause applies to pre-existing illnesses like blood pressure, arthritis thyroid, etc & the insurer does not accept any claim arising against it before a specific period of time.
Compare and choose a policy which comes with a minimum waiting period
This clause applies to pre-existing illnesses like blood pressure, arthritis thyroid, etc & the insurer does not accept any claim arising against it before a specific period of time.
Compare and choose a policy which comes with a minimum waiting period
9. Renewability
Old age is the time when these diseases and illnesses strike us the most as compared to when you are young.
Look for an insurance plan which can offer a lifetime renewal scheme or at least for as long as possible.
Old age is the time when these diseases and illnesses strike us the most as compared to when you are young.
Look for an insurance plan which can offer a lifetime renewal scheme or at least for as long as possible.
10. Existing Customer Reviews
Today, we check reviews before buying anything online, so why not before purchasing a policy.
Agents will only highlight the positive side of the brand. Do your research & read customer reviews.
Today, we check reviews before buying anything online, so why not before purchasing a policy.
Agents will only highlight the positive side of the brand. Do your research & read customer reviews.
I shall be glad to answer questions related to health insurance here.
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Stay Healthy, Stay Safe.
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Stay Healthy, Stay Safe.
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