Health Insurance Plans, Keeping in mind the rising cost of treatment of diseases in hospitals, taking a health insurance policy has really become necessary. But it is also important that you understand your health insurance policy. You should be well aware of its terms and conditions so that there is no need to face any kind of problems in the future. Recently, one of my friends forgot to renew their health insurance policy on time. This policy was taken from a well-known government insurance company. Four days after the due date of renewal of the policy, when he went to renew his policy in the nearest branch of that insurance company, he was told that the policy has been lapsed and now you have to take a new policy.
Taking the new policy meant that all benefits of old policies like No Claim Bonus, Lack of Pre-existing Diseases etc. Considering the insurance company’s official, he took a new policy. Later it was realized that he was not an officer but an insurance agent sitting in the branch who advised my friend to take a new policy in order to get the commission. Most insurance companies offer a grace period of 14-15 days to renew health insurance.
Up to 14-15 days from the due date of renewal of the policy premium, renew the policy with your old profits, but you have to give reasons for not paying the premium on time. Therefore, taking a health insurance policy is not necessary, but understanding its nuances and knowing the rules related to it are also important. For this, before we buy any health policy, there is a need to read and understand some of the policy’s basics and policy conditions.
Increase in the incidence of dangerous diseases in life
Sadly, India is battling life-threatening insurers. The impact of these insurers has been on productive employees for 35-65 years. Apart from this, cardiovascular diseases occur five to ten years ago in the Indians compared to any other population in the world. The news of those killed in swine flu across the country has created panic in almost every part of India. Unfortunately, the number of people affected by swine flu is more than 10,000 and the death rate so far has reached 2000 now. In the last few years, the possibility of increasing infectious diseases has increased and it is likely that these diseases can be more fatal in the near future. By 2020, out of every 10 deaths in the developing areas, there are seven potential non-communicable insurances (NCDs).
In light of increasing medical costs, with the lack of easy access to top medical facilities for capital demand for health services and low income groups, health insurance is emerging as an alternative mechanism to fight deadly diseases. In addition, most of the health plans offer annual health check-up to increase awareness of health.
Many insurance companies capping on hospital room rates, doctor fees and most of the payments in case of a particular disease / disease. When spending more than the fixed limit, these caps refuse to offer cashless facilities. It would be better if you investigate all these capping and make sure that these capping meets your priorities of the hospital in case of any kind of emergency.
Family Floater is a policy where Sum Assured is shared by all the policyholders. Suppose – Saurabh has taken a family floater policy of Rs 3 lakh for himself, his wife Anjali and children Ananya and Atul. This means that Saurabh’s family can take advantage of personal and up to Rs 3 lakh insurance. However, before you buy any floater policy, it will be very important to understand how much cover is needed for each member of your family.
If every member of your family needs Rs 3 lakh coverage, it would be better if you do not take a family floater policy. This is because if the entire cover expires on any one member of the family, then for the remaining cover of the other members you will have to buy a new policy. At the same time, family floater policy also has other aspects like family members, age, child and claim history. There is not much difference between the floater policy and the premium of an individual policy.