Features of a modern health insurance policy

Understand your medical insurance cover well before the purchase…

A suitable medical insurance policy protects you against health risks. When it comes to the well being of you and your family members, medical policies form an essential part of the measures you can take for reassurance. It ensures that you receive the care you required and mainly a properly financial backup when you need it. When you invest in medical cover, it will not only mean that you receive the best medical treatment available but also give you peace of mind that you have done all you can to ensure smooth path during unforeseen events or illness and accidents.

In India, there are leading insurance companies that offer medical insurance policies with varied benefits, customized requirements and at affordable costs. Visiting the branches or online sites, calling up customer service or agents are some of the ways to purchase a medical insurance policy.

Of these, online purchase is most convenient and suitable way as you can buy the policy at the click of the button on your computers, laptops or smartphone from house or offices. Besides, it lets you compare the policies in terms of benefits and features, discounts offered, terms and conditions, claim settlement ratio, etc. Right from your admission to doctor fees, ambulance expenses to other treatment costs, everything can be covered under your medical insurance policy. In addition, depending on the plan you opt for, your online health insurance plan can also cover permanent disability, long-term or custodial care needs.

However, before going for a purchase it’s your needs that have to be accessed thoroughly so that you buy the right policy. Some information that you require at the time of purchase would be you & your family members age, health conditions, any hereditary disorders, place of living and working conditions, income source, and risk capacity to purchase a health cover. When a customer visits online, he or she can fill up the appropriate inquiry forms and based on this information the company will suggest you a suitable insurance policy.

It is advisable; always consult your health experts to ensure you don’t fall in the pitholes of high premium costs and low coverage.

A typical medical insurance policy will cover: Hospitalization reimbursement due to disease/surgical treatment, domiciliary Hospitalization expense, pre & post Hospitalization expenses and other treatment costs.

The minimum age to start a medical policy would be 5 years while the maximum would be around 80 years to buy the policy. Children between 3 to 5 can be covered provided on or both parents are covered concurrently.

It is important to understand the inclusion and exclusion, and various clauses of the company before the purchase. There are some companies who may exclude some health concerns if they fall under the category of pre-existing diseases. As per any medical insurance policy, 24 hours hospitalization will be compulsory for a claim to be settled. Therefore, read the fine prints carefully, so that you understand the benefits and getter a quicker and hassle free claim. Also, if you run in any form of doubt, contact customer service team or online chat team to clear them before the purchase of your medical policy.

Be Prepared To Fight cancer

What is the importance of health insurance for women?

Women play different roles and carry on their responsibility very wisely. They try making everyone around them happy, they are so busy taking care of the family that most of the time women ignore their health and take it for granted. Single women, housewives, married women, working women be it anyone, they should have adequate insurance cover.  A health insurance policy is a must and is a need of the hour as it helps them to safeguard their health, save money against the expensive treatment and create a shield of protection for them.

The last two decades remarked the first wave of financial liberalization that triggered societal changes and modernized conventional models that concern the women’s role and her contribution.

Women in the urban centers are becoming fiercely independent and they are the equal bread winners of the family. Women are liberated and free enough to take the financial decisions regarding the investments and the savings. So much has been said about the need and the importance of the insurance in the women’s life, still they tend to ignore the health insurance policy. Women as they need more medical intervention and care than men because they require productive care.

Health insuranceplans that are specially designed for the women cater to the specific needs. The health plans for women generally cover: 

·   They insure women against the specific illnesses like the breast cancer, urine cancer, Fallopian tube cancer, cervical cancer a, vaginal cancer and the ovarian cancer.

·        The maternity expenses.

·  All the health insurance for women covers the hospitalization and the post hospitalization charges for the critical illnesses and the treatment.

·      Support of the livelihood benefit in case of the accidental death or permanent disability of an insured woman.

The following are the points that women should keep in mind before buying a health insurance policy:

Economic health plans are not adequate:

When an individual buys a health insurance she may come across a variety of basic health insurance plans that offer her coverage for minor diseases. These health plans are comparatively cheaper but the coverage provided would be insufficient. To avoid financial crisis during the medical emergencies buy plan with adequate coverage.

Keep the inflation in mind:

Incase if you are not having adequate insurance over, the medical bills can wipe away all the savings and worsen the financial situation more. The medical inflation is rising at a great speed, a health insurance policy can ensure financial safety to the women who are getting it.

Buy it an early age:

Women should prefer buying it at an earlyage when they are young, as the health is at peak and they are free form any of medical issues. Also they get to enjoy the concessions in the premiums to be paid to the insurance company also at the same premiums the health insurance policy offers the women a comprehensive cover.

You are prepared for the unexpected:

Having a protective shield of insurance prepares for the unexpected health issues that can surface any time and be even worse for you in the future. It can also put an added financial burden on the shoulders of the individual. 

How To Opt For A Right Health Insurance Cover

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Secure women with suitable health insurance policy

Women are the backbone of our society. They play their roles and perform their duties with due pride in day-to-day life. They spend a major portion of life in taking care of their family and keep them happy. It is as such they don’t even realize that they might anytime strike with critical illness or seriously affect their health. Therefore, it’s our responsibility to take care of them by buying a suitable health insurance policy.

In today’s time, health uncertainties can grapple you anytime and it may be difficult to cover up the expenses with the little savings you have. Besides, inflation only fuels up the issues all the more. Therefore, buying a suitable health insurance plan makes senses to keep every woman associated in your life sheltered with right medical care and the best of the hospitals and nursing care homes across India.

Single women, mother, sisters married women, working women all should have an adequate amount of insurance cover. It is the need of the hour, as it helps you safeguard their health, save money and create a shield of financial protection.

Today, women, especially in the urban areas, are trying to be self-independent, they have become equal breadwinners for their families. The adoption of a nuclear family system makes them more prone to disease or health issues as they have to manage their house and work life. Thus, the need and the importance of health insurance policy increase in women’s life.

Women oriented health plans cater their specific needs. Its cover women-specific diseases like breast cancer, uterus cancer, cervical cancer, vaginal and ovarian cancer, Maternity expenses, etc. Apart from this, they cover generic incidents like personal accident cover, pre and post hospitalization charges for critical illness. It offers additional support of living benefits in case of the accidental death or permanent disability.

Few checks before buying the health insurance plan:

When you buy health cover, you come across a variety of basic health plans offering cover for a minor disease. These plans might be cheapest but the cover provided would be insufficient. To avoid such financial crisis during medical emergencies it is better to compare the policies in terms of benefits & features, cover value, premium costs, claim settlement ration, etc.

The validity of your health insurance will be directly related to how long you have taken the policy. The moment you policy lapses they pre-existing disease which were covered in your policy will no more be effective. As long as you are paying the policy premium the health cover will be valid.

Its advisable women should buy medical insurance when they’re young as their health is at its peak and they’re free from any medical complexities. You get higher cover at lower premiums and your pre-existing disease will be incorporated early in your plans. The health policy will give you wider cover. As you grow old, the premium rates will increase and you won’t get comprehensive cover at such slashed rates.

Women-oriented health insurance policies also offer tax benefits under section 80D of the Income Tax Act, 1961. For women less than 60-65 years can get a tax rebate of around Rs 30,000 on their insurance policies. 

Policy Terms for Super Top Up Health Insurance

Health Insurance sector is experiencing a boom despite the fragile economic conditions. The reason for boom in insurance sector is due to increasing health problems and rising medical costs. Health is wealth; but if health is lost then your materialistic wealth is devastated to great extent. Here, medical insurance policy ensures to secure financial position and give best medical facilities in your city or anywhere in the world.

Therefore, having a top up health insurance is a necessity in today's context. Experts however, advise to opt for extra cover over your general health care insurance. The reason being sometimes the sum insured is not enough to support your medical claim settlements. To get the best medical facilities, you need to get hospitalized in the best hospital. The best hospitals in the cities are really expensive and need adequate medical support. For people with family floater plan, senior citizens health insurance and care general insurance must opt for super top up health insurance.

Why!

It will give the extra cover for your medical needs and will boost your sum insured. It's also known as deductible health insurance. Deductible top up health insurance is simply a top up for getting more health care benefits in comparison to general health insurance. You can now add extra health insurance to your health care plan for low premium. So, enhance your sum insured and get extra cover. What are the policy terms for top up health insurance?

The minimum entry age for opting top up recharge is 1 day

There's no set age bar for maximum entry age. Thus, you can boost your sum insured in any age

The top up health insurance plan comes with lifetime renewability and can be renewed under the prevailing health insurance plan or it’s alternate as approved by IRDA

The renewal premium is can be changed on continuation of policy with prior approval from IRDA

The co-payment option is attached to the top up insurance if the insured member is 61 years or above at the time of purchase of the policy. The co-payment option is an agreement where you will pay the 20% of the claim amount and rest 80% of the claim amount is paid by the insurance company

The waiting period for getting health care cover is 30 days for all illness. However, injury is exempted from this rule

There's a 4 years continuous cover waiting period for getting pre-existing diseases covered under the plan

The sum insured can be increased only when it's time for renewal on expiration of the policy

There's a grace period of window period of 30 days from the date of expiration to allow you to get renewed the existing policy

Group discount can also be availed, depending upon the size of the group. The discount can vary from 5% to 20% as per group size

The insured member on completion of 4 years of continuous cover can convert their deductible health insurance into a complete health insurance plan

Let's look into some added features:

Cashless treatment

Wide network of hospitals with a listing up to 4758 + hospitals

170+ day care under the belt and also dubbed as the largest lists of day care centres

Get annual health checkups for new age insured member

Life time renewability and no claim based loading is applicable

Get instant insurance online in 2 minutes

No paper work to get top up recharge for sum insured

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