Health Insurance Policy provides reimbursement of Hospitalization expenses for illness suffered or accidental injury sustained during the policy period. These charges include hospital bills for room rent, nursing expenses, medicines, anesthesia, blood, oxygen, operation theatre charges, consultation fee of doctors, cost of all kinds of investigations like scanning, X-ray, Dialysis, Chemotherapy, Radiotherapy, Cost of pacemaker, artificial limbs and similar expenses.
Health Insurance Policy generally issued for a period of one year and have to be renewed every year without break to get the continuity. Certain chronic diseases like cataract, hysterectomy, hernia, gall bladder stone removal, knee replacement, sinusitis etc. contracted during the first two years are excluded but covered from the 3rd renewal onwards and hence continuous renewal without break is necessary to get the benefits. Pre-existing diseases will be covered after 4 years only.
Health insurance plans are the traditional health insurance that covers your for hospitalization expenses up to the sum insured mentioned in the insurance policy. These plans include :
The term "individual insurance policy" refers to a coverage that is tailored to the needs of a single person. During a hospitalization, you are eligible to receive the hospital expenses incurred under this Insurance Policy.
This policy is unique in that it covers the entire family. With a family floater health insurance policy, you may cover your entire family under one plan. The total Sum Insured can be utilized for the hospitalization of one individual or for all during a policy period. . One advantage is that the premiums for these plans are far lower than those for individual or Mediclaim insurance.
Employer-sponsored group health insurance policies are becoming increasingly common among medium and large businesses. This policy aids in the retention of talent inside a company. Employers safeguard their employees for a financial catastrophe and prudence as health insurance plans become more important.
With a Critical Illness Insurance plan, you will receive a lump-sum pay out on the detection of a critical illness. You don't have to be hospitalised for the same. If you are unable to work because of the illness, then you can use the amount as a substitute for your monthly income. You can even use the money to cover expenses for doctor visits, medicine purchases, medical tests or any other expense that might arise during this time. That is why you need both – a Mediclaim plan to cover your hospitalisation expenses and a Critical Illness Insurance plan to cover your loss of income and other expenses that may arise due to an illness.
Waiting period and surviving period are applicable to this policy too. Total number of critical illness and Name of critical illness should be briefed to the customer in detail.
This Policy covers expenses per day for the hospitalisation period. Per day cost i.e. Rs.500/- per day, Rs.1000/- per day or Rs.2000/- per day is the choice of the proposer. According to this policy, no bills are required whereas Discharge Summary issued by the hospital is required to count the days of hospitalisation. The maximum number of days and minimum number of days are printed in the policy. This policy can be taken as an additional policy to cover the bystanders’ expenses.
Anyone who has purchased health insurance will tell you that it is one of the wisest financial decisions a person can make. By taking a Health Insurance Policy for your family, you are able to save your hard earned savings without any damage as the Health Insurance Policy meet all your hospitalisation expenses in the event of an un-expected hospitalisation due to a disease or an accident. Hospital expenses are increasing day by day. One hospitalisation within 10 years will be able to save the premium you paid. You now need to know how to choose a suitable health insurance plan that will cover all of your demands now that you've decided to acquire a health insurance coverage. The following is a list of advantages that any decent health insurance plan should provide:
Comparing health insurance quotes online will assist you in selecting the most appropriate health plan for your needs. It can also be difficult to choose the finest insurance plan because there are so many insurers offering various health insurance packages with great features.