In India awareness of individual health insurance is growing and many new consumers, especially the elderly, are at a loss as to what policy to buy if they already have a medical condition. Many health insurance companies in India define pre-existing conditions as “any condition, illness, injury or related conditions that existed or the patient underwent treatment within 48 months prior to the purchase of the company’s health insurance policy”. Older people with existing conditions should not be discouraged when buying health insurance because there are insurance companies that have programs specifically designed for them.
Buying health insurance is important:
While some treatment policies do not address existing conditions there are some covered diseases. Buying health insurance is a must if you want to avoid financial losses in the midst of any medical emergency. If the illness of the insurer is not chronic in nature it should not be a problem to buy health insurance or any cause for concern.
How does one determine the status quo when purchasing a health insurance policy? Sickness or injury that an insurance customer has acquired over the past 48 months must be announced at the time of purchase of the policy. Once the announcement has been made the insurance company will decide on the provision of cover and the amount of cover that can be provided and the cost of the premium. This decision will be at the discretion of the insurance company and may refuse to provide insurance for certain reasons in terms and conditions.
Example of refusing to provide coverage:
Insurance companies have their own terms and conditions as well as provisions to cover or discard the provision for those with existing conditions. One example is if a person has kidney disease this condition may not be able to get medical cover. For those with diabetes and high blood pressure, the insurer may call based on the basis and degree of severity or type of illness.
Retired people and pre-inclusion:
If a person works for an employer and is covered under the prescription drug group insurance with pre-exisiting it may be tempting for him or her to avoid buying individual health insurance. It may not be a wise choice because when they retire they cannot rely on group inhealth insurance. There will be a waiting period and when it is over there will be continued retirement care after retirement.
Compare the waiting period under Mediclaim:
The individual treatment policies offered by Indian insurance brokers pay for the pre-existing condition after a certain waiting period. When comparing policies it is good to understand the waiting times stated by insurance brokers and make a wise decision. Under certain policies the waiting period can be up to 2 years and others up to 4 years. Some insurers cover certain diseases under Indian mediclaiminsurance policies at an additional cost of premium.
Why should insurers avoid switching insurers?
If the insurer suffers from pre-existing conditions he should think twice while changing the policy when his policy comes to renew. As mentioned earlier the waiting period can be 2 to 4 years and if you change the insurance the new insurance company will start the waiting period again. Lack of long-term coverage can defeat the purpose of purchasing an existing conditional mediclaim policy if you change insurance providers and extend the waiting period.
Tips for Buying the Good Mediclaim Insurance in India-
Buying health insurance protects people from the sudden, unexpected cost of hospitalization (or other covered health events, such as serious illnesses) that could cause serious damage to their hard-earned savings. Health care is also becoming more expensive in India, with technological advances, new procedures and more effective medicines that have increased costs. While these high medical costs may be higher than many, taking out health insurance is highly priced and makes economic sense for anyone. Some important tips for buying the Right Health Insurance program in India include:
Choosing Optimum Sum Insured
everyone should first decide on the amount of insurance / employment they need considering the affordability, risk-taking, family history and current exposure.
Check Out Releases and Waiting Times under the Program
these are important factors to consider when choosing the right system. One should finally understand what is covered and after what waiting period can make a claim while understanding what is not included under the policy.These are important factors to consider when choosing the right program. To buy a program at a lower premium, the waiting period and non-delivery can be higher than most programs on the market.
Choose the Right Insurance Partner
the insured must choose an insurance partner whose policy is clear and clear on the terms and conditions, as well as his / her ability to pay claims and the rate to pay their claims. One should also ensure that the insurance company has a strong non-financial network throughout India.
almost all insurance programs today offer lifetime renewals, insurers can continue to renew insurance annually as long as they are alive. But the same needs to be confirmed in terms of policy, terms and conditions.
Day Care / Back and Back Care procedures
these are also a few key elements that should be present in the proposed system. Day Care Procedures are those surgeries and medical interventions that do not require hospitalization.
Mention the medical conditions that are available
While this may seem tricky to notify the insurance company in advance of the status quo, as this may result in increased premium or even ban on coverage in extreme cases, it is recommended that a person make a public declaration so as not to deal with it. problems during application.
Inclusion / Benefits under the Program
This is an important factor in determining a premium. If one considers only the premium, the inclusion can be greatly reduced which may cause financial stress at the time of application.
Co Payment by the insured
As the premium is low, the program can have a very high fee, which is% of the application costs paid by the insurer. Therefore anything the insured person saves in the premium will have to be paid as part of the co pay at the time of application.
Strong and Big Moneyless Network
One should also ensure that the insurance company has a strong cashless network throughout India because the insurers can be accommodated anywhere in India.