Understanding Health Insurance - Health Insurance is a kind of coverage that addresses medical and surgical costs incurred by the insured, due to an illness or injury that has led to hospitalization. It fully or partially covers the
insured individual's costs related to admission and treatment. A health insurance policy is an agreement between the insured individual and insurance company, for an annual premium. This premium cover medical expenses and hospital
treatment as mentioned in the policy document.
Most health insurance policies also offer the beneficial feature of cashless hospitalisation at network hospitals or offer reimbursement towards expenses borne by the insured. Besides, the cost of health insurance is further subsidised
to the insured individual through tax exemption measures under section 80d of the Income Tax Act, 1961.
Basic health insurance policies
A primary health insurance plan covers hospitalisation expenses that an individual might experience in case of accidents, surgical procedures, daycare therapies or critical ailments. However, based on the insurance company, the features
of the health insurance plan, its limits and sum assured may vary.
Top-up health policies
By supplementing an existing health insurance policy, a top-up health insurance plan aims to enhance the overall sum assured with an additional amount. A top-up health insurance plan can be obtained by paying a relatively low premium
The significance of health insurance in India
As one of the fastest growing industries, health insurance in India is rapidly rising. However, only 20% of the Indian population is currently under health insurance coverage, according to the latest reports released by the National
Sample Survey Organization (NSSO). Moreover, only 18% of the Indian population residing in cities and 14% of the entire population present in the hinterland have some health insurance coverage.
The need for health insurance in India is imperative given skyrocketing medical expenses and rising inflation. It is crucial for every individual to purchase a good health insurance policy that covers costs of medical treatments, medication,
hospitalization costs, diagnostic tests, critical illnesses and more.
Additional crucial reasons to invest in a health insurance plan include:
- Preventing the economic burden of medical treatments on the family
- In the absence of a health insurance plan, an insured individual may receive less or primary medical care due to lack of funds
- Due to the lack of a health insurance plan, an individual could stand at a higher risk of being exposed to ailments due to lack of regular medical check-ups
- Protecting the family through unexpected, unforeseen health-related financial situations with a health insurance plan
Salient features of a health insurance policy
Insurance companies offering health insurance plans provide an extensive range that can be customised to suit individual health requirements of people. Therefore, various health insurance policies include numerous features related
to medical treatments, therapies, surgeries and more. Some additional features of health insurance policies include:
Pre-hospitalisation expenses: Medical expenses incurred between 30 to 60 days before hospitalisation can be covered by the health insurance policy, such as diagnostic examinations, medical tests, medication.
- Hospitalisation costs: A health insurance plan covers expenses borne by the insured during hospitalisation for a minimum period of 24 hours. These costs include expenses such as rent charges of the hospital room,
operation theatre fees, ICU costs, consultation fees of doctors and specialists, surgery costs, and other critical expenses such as oxygen, anaesthesia, blood, plasma, etc.
- Post hospitalisation expenses: Most health insurance plans typically cover costs incurred by an individual between 60 to 180 days after hospitalisation. These expenses generally include follow-up fees with the
doctors, diagnostic examinations and medical tests, medication, therapy, etc.
- Day care treatments: Some health insurance plans also cover medical treatments or day-care procedures such as cataract surgery, dialysis, chemotherapy, radiation treatments, appendectomy, colonoscopy, angiography,
lithotripsy, amongst others. An extensive health insurance plan may include a wide variety of treatments and common care procedure.
- Costs related to organ donation: Specific health insurance companies offer health insurance plans that can cover medical expenses incurred during organ donation. For instance, if you are the recipient of an organ,
your donor can be financially secured by your health insurance policy.
- Critical ailments: Health insurance companies generally address different critical illnesses. These elements include heart disease, strokes, paralysis, organ transplant, Parkinson's disease, cancer, chronic lung
- Alternative treatments: some health insurance policies also cover alternative medical treatments also known as AYUSH - Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy.
- Cash during hospitalisation: Specific health insurance plans could cover costs incurred by the insured's caretaker during hospitalisation,or could be added as a rider to a health insurance policy. Daily expenses
concerning food, hospital stay, etc. can be compensated based on the health insurance plan. Some health insurance policies also provide reimbursement for loss of income due to specific health disorders.
- Ambulance coverage: Some health insurance policies also address the costs for ambulance services.
- Periodic check-up: Many health insurance plans offer general and regular health check-ups as preventive measures.
- Vaccinations: Specific health insurance policies also address costs related to vaccination expenses for rabies, snakebites, etc.
- Emergency evacuation: If the insured individual must be transferred from one hospital to another, under emergencies, a health insurance policy that covers the expenses can also look into relocation expenses.
- Tax benefits from a health insurance policy: Health insurance plans entitle you to obtain tax benefits under section 80 D of the Income Tax Act, 1961. You receive a tax rebate on the premium you pay towards health
insurance policies for yourself or family members, regardless of whether your family is dependent on you. The tax debate provided, regarding premiums, is subject to the insured individual's age. Moreover, a cap is set on the
maximum tax benefits you can avail through a health insurance policy. If you are below 60 years of age, you can save a maximum of Rs. 25,000 in taxes every year. If you are above 60 years, the maximum tax benefit rises to Rs.
- Health insurance provided by employers: More than 85% of employers in India today offer health insurance coverage to their staff. Employer health insurance covers hospitalisation costs of the employee and the family
including spouse, children or parents. It is a smart decision to adopt the health insurance policy offered by the employer as it eliminates the need for paying premiums. Also referred to as a group health insurance policy,
health insurance premiums paid by the employer is based on the size of the company and the opted benefits. In some cases, a health insurance policy offered by the employer may be insufficient to meet the medical requirements
of the individual. Moreover, if the employee changes the job, he or she can no longer be a part of the group health insurance plan once they leave the company. Hence, it is imperative to go through the policy terms carefully.
You may want to speak with your employer concerning the coverage and exclusions in your group health insurance plan.
- Third party administrators (TPA): According to the insurance regulatory and development authority of India (IrDA), the concept of third-party administrators was launched to assist the insured and the health insurance
provider. The TPA concept benefits the insurance provider by reducing their overheads and administrative expenses, in addition to fake claims and claim ratios. On the other hand, an insured individual enjoys enhanced and fast
insurance services through the assistance of a third-partyadministrator. TPA is regarded as an essential player in the health insurance sector. They possess the capacity of handling every or a particular section of the claims
concerning medical health insurance. They tie-up with health insurance providers or self-insuring organisations that manage capabilities including the collection of premiums, enrolment, claims settlement processes and other
administrative services. In most cases, it is seen that they help insurance companies and hospitals outsource their health and insurance-related activities to third-party administrators to process claims quickly. Similarly,
an employer may opt to offer claim resolution of a group health insurance plan through a third-party administrator to address numerous aspects of an employer-funded health insurance policy.
Advantages of health insurance
Here are critical reasons why an adequate health insurance policy is essential for every individual:
- The uncertainty of life: since health issues can occur anytime, it could create a financial burden on the individual and family members to arrange for funds during emergencies. A health insurance plan can address
this issue and provide peace of mind to the insured and the family.
- Financial preparedness: A health insurance policy can keep you prepared financially, in advance, despite growing medical costs and hospitalisation.
- Financial assistance: With a health insurance policy, you receive financial protection against most critical expenses connected to treatments and therapies.
- Cashless facility: This unique and beneficial feature is offered by most health insurance companies at their network hospitals to enable the insured individual in overcoming the hassles of making upfront payments
at the time of admission.
- Peace of mind: Since a health insurance policy takes care of incurred expenses, the insured can focus on speedy recovery.
Types of Health Insurance plans in India
Health insurance plans in India are broadly classified into the following types:
- Hospitalisation policies: These are health insurance plans that compensate costs incurred by the individual during hospitalisation and medical treatment. Subject to the sum insured, these health insurance hospitalisation
plans are also known as indemnity plans.
- Family floater policies: These health insurance plans cover the entire family under one health insurance policy. Family health insurance plans work under the assumption that not every member of the family is suffering
from illness at one time. These health insurance policies address expenses related to hospitalisation, which can be pre-and post-hospitalisation. Most health insurance companies in India offer family health insurance. These
health insurance policies provide an extensive network of hospitals to help insured individuals in times of emergencies.
- Senior Citizen policies: Older people of the family are covered under senior Citizen health insurance plans. These policies address health issues arising due to old age. The IRDAI lays down guidelines that every
insurance company must provide health insurance coverage up to the age of 65 years.
- Maternity policies: Health insurance plans that provide coverage for maternity and other related expenses can be a boon for women. These policies address pre-and postnatal care, delivery of the baby in normal or
caesarean procedures and more. Maternity health insurance providers also offer a wide range of network hospitals, just like other health insurance plans, and also cover costs of ambulance services.
- Hospital daily cash benefit policies: As a defined benefit policy, hospital daily cash benefits in a health insurance plan offer a specific amount of money for every day of hospitalisation.
- Critical illness policies: These health insurance plans are regarded as benefit-based policies. In this a lump-sum benefit amount is given to the insured, on the diagnosis of covered critical illness. Mostly, these
specific diseases are high security and low frequency in nature. Therefore, the cost of treatment can be exorbitant when compared to day-to-day treatment or medical categories. Illnesses covered under critical illness health
insurance policies include cancer, stroke, heart attack, etc.
- Personal accident health insurance cover: Personal accident health insurance plans are commonly referred to as riders. These include hospitalisation costs and medical expenses involved in the event of an accident.
Personal accident health insurance plans are fixed benefit policies, wherein a specific amount is paid when unforeseen circumstances take place, such as accidents, that could result in fatality or disability of the insured
individual. However, it is important to note that the specified sum paid to the insured individual is not related to the sum assured of the health insurance policy.
- Pre-existing disease health insurance coverage: Some health insurance policies consider pre-existing diseases, such as diabetes, hypertension, kidney failure, cancer, etc., after 2 to 4 years of policy inception.
Pre-existing disease health insurance coverage is offered for specified ailments stated in the policy that the insured had at the time of buying the health insurance policy.
- Preventive health insurance coverage: Preventive health care can help in diagnosing ailments and addressing diseases in the primary stage before it needs extensive treatment. Preventive measures such as regular
health check-ups, consultation from specialist doctors, extra charges, diagnostic tests, etc., are offered in a preventive health insurance plan. The various healthcare provisions provided in this kind of health insurance policy
ensures that you remain healthy through regular and periodic medical check-ups. Preventive care is a form of medical care that is not rendered for a specific illness but to prevent and detect ailments in its early stages.
- Unit-linked health insurance plans: Unit linked health plans are a recent introduction in the field of health insurance plans. This policy provides a unique combination of investment and health insurance. In addition
to offering health protection, unit-linked health plans are helpful in contributing to building a corpus that can be used to cover specific expenses not addressed by health insurance policies. By opting for this form of a health
insurance plan, an individual can save a particular amount that can be used for the treatment of any pre-existing ailments not covered by a standard health insurance plan, during the waiting period.
What does a Health Insurance policy cover?
Health insurance plans in India offer coverage on the following:
- Inpatient hospitalisation: Medical costs concerning hospitalisation due to an ailment, medical emergency or an accident, for more than 24 hours
- Pre-hospitalisation: Medical expense incurred due to illnesses immediately preceding admission.
- Post hospitalisation: Medical expense incurred by the insured for a specific period after being discharged from the hospital.
- Day-care treatments: Medical costs for specialised and technologically advanced procedures are therapies that do not require 24 hours hospitalisation.
- Domiciliary treatment: Medical treatment costs done at home that do not require hospitalisation.
- Emergency ambulance services: Expenses concerning ambulance services to reach the hospital
- Alternative medical treatment: Therapy involving alternative medicines using Ayurveda, Unani, Siddha and Homeopathy, also known AYUSH
What does a Health Insurance policy not cover?
Some options that are not covered by health insurance plans in India are as follows:
- Pre-existing ailments: Medical conditions that affect an individual while applying for insurance are known as pre-existing medical conditions. In most cases, pre-existing diseases are not covered under health insurance
policies. However, some health insurance providers have begun offering coverage for pre-existing conditions after a specific waiting period ranging from 2 to 4 years.
- Cosmetic/plastic surgeries: A typical exclusion seen in most health insurance plans are cosmetic or plastic surgeries. However, several health insurance plans offer cosmetic or plastic surgeries that need to be
performed after accidents or burns. In most cases, dental treatments are also excluded from health policies.
- Injuries caused due to extreme sports or suicidal attempts: Health insurance plans may not cover damages caused due to extreme sports such as bungee jumping or during suicidal attempts. Health insurance plans do
not cover self-imposed or intentional harm caused to oneself.
- Alternative therapies: Health insurance plans may not cover some therapies such as acupuncture, magnetic therapy, acupressure, etc.
What is the best health insurance
policy for your family?
There are various parameters to be regarded before investing in a health insurance policy. These include:
- Budget: it is vital to consider the financial budget of all the members in the family before deciding on a health insurance plan. Based on one’s economic condition, an individual can invest in a health insurance
policy that addresses all risks concerned with the health of the individual and family members.
- Co-payment: An essential factor to consider is the co-payment facility offered by the health insurance plan. This is a standard feature provided by most health insurance providers; it is defined as a fixed percentage
of every claim amount to be paid by the insured. This feature ensures you can lower the cost of your health insurance. Medical insurance plans offer the option of co-payment as a cost-sharing requirement under the health insurance
policy. This states that the health insurance provider will bear a specific amount of the total admissible cost while the insured individual will pay a certain sum. The co-payment facility can help in reducing your premium,
based on the health insurance provider and the health insurance policy.
- The total number of family members to be covered: It is essential to consider the number of family members, who can benefit from a health insurance policy when investing in a health insurance plan. Typically,
a family-floater health insurance plan in India can address 4 to 6 family members.
- Claim settlement procedure: In the past, claim settlement was a bothersome procedure that prevented people from investing in health insurance. Today, every health insurance provider offers a comfortable, hassle
free claim settlement processes to make it convenient for an insured to spend on a health insurance plan.
- Adding new family members: The birth of a new member in the family is a moment of joy and celebration. Therefore, when considering a health insurance plan for the entire family, one must also look into the terms
and conditions stated in the policy, in the event you plan on adding new family members and insuring them under your health insurance policy.
- Compare various health insurance policies: It is vital to compare policies from the best health insurance providers in the industry, before settling for a health insurance plan. It is critical to suit the one that
best suits your needs, taking into account all factors and requirements.
Comparing Health Insurance plans in India
It is crucial to compare various health insurance plans before making a purchase. In some cases, a health insurance plan may appear to have lower premium rates, but could have contradictory clauses in its fine print. Hence, it is essential
to look into the terms and conditions of health insurance policies in detail and understand its claim settlement procedures. On the other hand, health insurance plans that come with a high premium cost may have features that could
be irrelevant to you.
Many web insurance aggregators can help in comparing the best health insurance plans. Specific parameters that must be regarded when comparing health insurance plans include the salient features of the health insurance policy, add-on
benefits provided by the health insurance provider, the sum insured in the plan and the network of hospitals associated with the health insurance provider.
Choosing the right health insurance policy to safeguard yourself and family members can be a time-consuming and arduous task. Therefore, it is essential to compare health insurance policies based on the following vital pointers:
- Premium versus coverage: Evaluate if the sum assured and coverage in the health insurance plans is suitable against the premium. Based on your needs you can also supplement the health insurance policy with specific
- Room-rent limit: Since every hospital has varied room rents, some health insurance policies may only pay a specific portion of the actual rent. It is a good idea to go for the highest or no room-rent limit health
- Network hospital: You may want to know more about the network hospitals in your area offered by your health insurance provider. Network hospitals only offer cashless services, and hence it is a good idea to know
more about the list of hospitals associated with the health insurance provider.
- Exclusions: you may want to understand permanent exclusions in the health insurance policy, and specific treatments that could be covered after a definite waiting period.
the right Health Insurance plan through a health premium calculator
A health insurance premium calculator is an effective and useful tool in determining the premium amount you would pay towards health insurance. The cost of the health insurance premium is an essential factor to consider when selecting
a health insurance plan. It is useful in understanding the amount of money you need to set aside from your budget to address your health insurance needs.
To arrive at the premium, the health insurance premium calculator requests details such as the number of individuals to be insured, their age, sum assured and other specific data. It is critical to calculate the premium to choose a
health insurance plan that best suits your requirements and at the same time does not inconvenience your finances.
Essential checkpoints for a Health Insurance plan
While there are various factors to look into before investing in a health insurance plan, here are some critical checkpoints to bear in mind.
- Coverage limit:Primarily, one must look into the coverage limit of the health insurance plan. While the primary coverage may remain the same, a few absolute limits could vary in various health insurance policies.
Also, it is also a good idea to select a health insurance plan that has features you may need in the future without overburdening yourself with superfluous features. It can help to compare health insurance premium, but it is
not the only factor to consider when purchasing a health insurance plan. This is because a low premium cost does not necessarily translate into a good health insurance plan. On the contrary, a health insurance policy with a
small premium may not address all your medical requirements in the future. You may want to understand carefully what the health insurance plan involves. A comprehensive health insurance plan is an excellent option and can come
to your aid when needed.
- Policies sub-limits: When considering a health insurance plan, most people tend to oversee the sub-limits on specific benefits. This could be a cause of regret at a later stage. Hence, it is essential to examine
the limits on various factors such as room rent limits, and ambulance service charges, and other costs that could affect your finances.
- Waiting periods: Specific ailments have exclusion clauses in a health insurance plan such as waiting or limited period applicable in a policy. It can help to know the waiting period of your chosen health insurance
policy, in advance. Specific ailments have fixed waiting periods, hence knowing which health insurance plan offers the least waiting period, can help in choosing the right one.
- Cashless facilities: The cashless claim facility is an essential advantage of a health insurance plan that can significantly benefit the insured. Through this facility, a direct settlement of medical costs takes
place between the insurance provider and the hospital. This feature is generally provided by most health insurance plans when the insured individual is treated in a hospital, listed in the network of hospitals, as stated by
the health insurance provider.
- Age of entry: This is a crucial point to consider when investing in a family-floater health insurance policy. It is essential to look into the maximum age of dependent individuals and senior citizens, where applicable.
- A network of hospitals: When choosing a health insurance plan, it is a good idea to understand and know about the network of hospitals connected to the health insurance provider. This can offer a better understanding
of the cashless facility and will ensure your peace of mind in times of emergencies.
- Exclusions: At the time of emergency, it could come as a great shock to the insured if the health insurance plan does not cover the ailment or medical condition. Therefore, it is critical to comb through the offer
document carefully and read the fine print concerning all medical conditions and ailments that could be possibly excluded from your health insurance plan.
- Added advantages: When examining various health insurance plans, you may want to consider add-on riders and their features to attach to your health insurance policy. These riders are additional benefits that can
enhance the scope, coverage and elements of your health insurance plan and make it into a comprehensive policy.
- Lifelong renewability: You may want to consider a health insurance plan that offers lifelong renewability on your health insurance policy. The renewability factor is a crucial decision when choosing the ideal
health insurance plan for yourself and your family. Knowing how many years a health insurance plan proposes to protect you can be critical. For instance, if a health insurance plan covers you only during your youth, just to
be left in the lurch without any medical or health protection at a later stage in life, especially during your old age, when you need it the most, can be futile. Health insurance policies are generally annual contracts. Once
the health insurance plan term ends, you are required to pay a premium to continue the insurance coverage to the next year. This process of your yearly recurrence is known as renewal. Every health insurance policy is renewed
continuously, because if there is a gap, then the insured individual stands to lose the benefits of health insurance.
- Premium: You may want to keep in mind the premium payable before investing in a health insurance plan. The premium amount payable towards your health insurance policy must be well-founded and suitable as compared
to other health insurance plans within the health insurance space.
- Premium loading: When a health insurance provider perceives an individual to at higher risk, than others, after claiming insurance, the insurer increases the standard premium rate of the individual. This is known
as premium loading. Potential buyers are advocated that the terms and conditions of a health insurance policy must be checked closely regarding premium loading. This can save you from paying high premiums after making a claim.
This feature tends to become a bone of discontentment later on, and hence it is imperative to see through these clauses carefully at the start of the health insurance plan. To get a better understanding of premium loading,
you may want to verify the cost fluctuation data of the health insurance plan for the last five years.
- Internal department and customer service: It is a good idea to check for health insurance plans from health insurance providers that have a dedicated desk or internal team to handle medical insurance policy claims.
A dedicated internal team can help provide exceptional customer service and expedite the medical insurance restoration process. Most health insurance providers employ third-party administrators to process the claims and conduct
paperwork. Although third-party administrators offer valuable services, claim processes can get delayed as the administrator has to follow specific rules and regulations when assessing claims and handing over to the insurance
provider. Hence it is a good idea to know more about the internal team handling medical claims of a health insurance policy.
- Health insurance portability: It makes sense to opt for a health insurance provider that provides health insurance portability. In the past, policyholders had to stand by their health insurance policies merely
to date in its benefits. Today, one can switch from an insurance provider to another without losing the benefits of the waiting period and in their current health insurance plans. Besides, with the health insurance landscape
changing rapidly, health insurance providers are introducing enhanced policies that could entice a policyholder to switch to a better insurance provider. However, it is essential to understand that you do not pay any fees for
health insurance portability. When deciding the right health policy, it is a good idea to check for health insurance portability.
- Restore benefits: If you hold a 'restore benefit' feature in your health insurance plan, you can restore your basic sum assured if you have already spent the amount or the multiplier benefit during the health
insurance plan tenure. This benefit is useful but cannot be obtained on the same illness, if you have used the existing sum amount. Restoration assistance is a crucial advantage for a family-floater health insurance plan, where,
if the total sum assured has been exhausted in treating a single member of the family, the other members are still covered by the policy. In such a scenario, other family members can obtain coverage of the health insurance
policy for the ailment other than the one where expenses have already been reimbursed by the health insurance provider.
- Top-up health insurance plans: With medical inflation on the rise, it is prudent to have a substantial medical cover. However, the cost of the high premium can be a deterrent to potential buyers. This is where
a top-up health insurance plan can come to the aid. It reduces the cost of deductibles, that is, the section of claim you pay for damages before the health insurance company compensates the rest or up to the sum assured. A
top policy ensures that you do not have to pay until the treatment has broken its defined limit. This option is considered to be economical than a standalone medical policy.
Health Insurance claims procedure
Cashless claim process and reimbursement claim method are two ways to make health insurance claims.
Cashless claims process: To avail the advantages of a cashless claim in a health insurance policy, an insured person must be treated in one of the network hospitals that fall under the purview of hospitals that the
health insurance provider is affiliated with. On presenting the e-card to the hospital or physical proof of the health insurance policy, the insured person can obtain the advantages of cashless treatment and hospitalization. If
the injury or illness is covered in the health insurance plan, the cashless facility can be availed. At the time of discharge, the health insurance provider receives the medical bills from the hospital. The health insurance provider
then assesses the costs and pays the amount to the hospital.
Reimbursement claims process: Health insurance providers reimburse the insured individual on the amount paid by him or her, up to the sum insured. One can opt for this process when the insured individual is hospitalized
or treated from a hospital that may not fall under the health insurance provider's network of hospitals. At the time of hospitalization and treatment, the insured person initially bears the cost of treatment and pays from their
pocket to the hospital. He or she can submit the bills to the health insurance provider, at a later stage, to claim the settlement. The health insurance provider assesses the expenses borne by the insured individual and, based
on the scope of the health insurance plan coverage, reimburses the payment on the sum insured. If the treatment is not covered in the health insurance plan, the claim can be rejected. Some documents that need to be submitted to
the health insurance provider for reimbursement claims process include:
- A duly completed claims form
- A medical certificate signed by the doctor
- Discharge summary card of the patient in original, as received from the hospital
- Cash invoices and prescription pills from pharmacies for treatment and the hospital
- Original bills and receipts
- Investigation reports
- For accidents, Medico-Legal Certificate (MLC) or FIR is a must
Health Insurance Online
Although investing in health insurance is an excellent idea, it can get challenging for buyers. The conventional method of purchasing health insurance was to speak to an agent, make sense of complex clauses and not truly understand
the entire meaning of most of the fine print in the policy. Moreover, the complete procedure was time-consuming with the involvement of numerous documentation and paperwork. However, the online method of buying a health insurance
plan and getting one's health insured has eliminated every traditional challenge. Today, buying health insurance online is a preferred method of securing one's health.
Some important advantages of buying health insurance online include:
- Saving time: Purchasing a health insurance plan online can save you the time and energy of speaking to an agent and understanding complicated fine print clauses and conditions. With easy-to-understand information
available at hand, you can examine all aspects related to your health insurance plan online and insure yourself.
- Information availability: All crucial data connected to your health insurance plan is available online, and therefore, there is no room for error concerning missed or hidden information. All the information that
you need is readily accessible on most financial and insurance websites.
- Comparing health insurance policies: With the proliferation of Internet technology, lives have become more straightforward and comfortable. The benefits of web insurance aggregators have further helped individuals
easily compare health insurance policies and select the right health insurance plan suited to their needs.
- Health insurance premium calculator: A useful tool such as the health insurance premium calculator is now readily available on the Internet. This is essential to help potential buyers to calculate the amount of
premium and efficiently plan their budgets, thus making it an extremely convenient and vital application in buying health insurance.
- Reduced premiums: Some health insurance providers offer lower premium when you purchase a health insurance plan online. With the elimination of intermediaries or insurance agents, the health insurance provider
can now provide a lower premium rate to ensure individuals and ensure quick and easy application.
Health Insurance for parents
It is vital to cater to the needs of parents as they grow old and ensure they receive the right and adequate treatment in time. Many health insurance providers offer individual health insurance policies that address medical needs of
parents. These health insurance policies address pre-and post-hospitalization costs, ambulance services fees while some of them also include pre-existing ailments.
Health Insurance for Women
Women are affected by health risks and medical conditions that are unique to them. Due to biological differences, and several risks connected to pregnancy, childbirth and menstruation, it is critical to address women's health needs.
Most health insurance providers have introduced some health insurance policies to cover critical illnesses and women-specific ailments such as paralysis, breast cancer, ovarian cancer, uterine or endometrial cancers and others.
Health Insurance for Senior Citizens
With age, the body needs special attention. Therefore, it is a good idea to invest in a health insurance policy that can address specific health requirements. Most health insurance providers offer tailor-made plans designed for senior
citizens that address the needs of older people in society.
Who Must Buy Health Insurance Policies?
Every individual who aims to improve his or her existing health cover must opt for a health insurance plan. In addition, it can help to have health insurance if the person is likely to face a loss of income in the future. Unfortunately,
due to the uncertainty of life, anyone can fall prey to critical ailments. Having a health insurance plan offers relief and peace of mind without affecting one's hard-earned investments.
Documents needed to apply for health
- Age proof:accepted documents include birth certificate, passport, PAN card, Voter's ID, driving license, school or college certificate.
- Identity proof: PAN card, Aadhaar card, driving license, passport, Voter's ID.
- Address proof: accepted documents include ration card, telephone bills, electricity bill, passport, bank account statement, Voter's ID.
- Income proof: salary slip, employers’ certificate, form 16.
- Medical check: if stated by the insurance provider
- passport size photograph
Buy the Best Health Insurance Online
Buying health insurance from leading and reputed insurance providers such as Reliance Health Insurance has changed the way people perceive health insurance. Today, the wide variety of choices and top-ups in multiple health insurance
plans can ensure you choose the right health insurance based on your needs. Moreover, the ease of obtaining information and the convenience of buying a health insurance policy can help you make the right decision.
What is a Cancer Health Insurance Policy?
A cancer health insurance plan is an added health insurance policy that addresses the risks connected to cancer and its different manifestations. This type of health insurance plan is built to extenuate the expenses associated with
treating cancer in a patient.
How can I Increase the Sum Insured of my Health Insurance Plan?
You can increase the sum insured of your existing health insurance policy when renewing it. Here, you may want to know that if you have claimed your previous policy, the sum insured enhancement might not be possible.
I forgot to pay my health insurance premium. What next?
In case you forgot to pay your health insurance premium, you are given a grace period ranging from one to three months, based on your health insurance provider. However, if you are unable to pay the premium during the grace period,
your health insurance policy could lapse, and you may no longer be entitled to the benefits of your health insurance plan.
What is the difference between a health insurance policy and a critical illness plan?
A health insurance policy is comprehensive in nature and covers a variety of ailments and injuries. A critical illness plan addresses specific critical diseases such as heart attack, stroke, cancer, etc.
How can I select the best health insurance plan?
Here are some factors to consider when selecting health insurance. These include - total sum insured, the minimal waiting period for pre-existing elements, the maximum age for renewability, highest claim to settlement ratio, health
insurance plans with no sub-limits are deductibles and affordability of premium.