Health insurance is a financial tool that covers medical and surgical expenses related to illness, injuries, pregnancy, hospitalisation, ambulance, and more. With features like cashless claims, worldwide coverage and customisable addons, our health insurance plans ensure you get the care you need without financial stress. The right health insurance policy helps lift the financial burden of all medical expenses so that the insured person can get the best medical care on time.
Health insurance is a contract between an individual or group and an insurance company that covers medical expenses. It's a cost-effective way to manage medical treatment. Cost of quality healthcare in India has been sky-rocketing for the past decade or so. Hospitalization for a serious health condition can set you back by Rs 5 to 10 lakhs, depending on the severity of the condition and treatment options. Health insurance provides insurance cover for comprehensive hospitalization expenses related to accident and illness.
Health insurance claims can be cashless or on a reimbursed basis. In a cashless claim, you do not have pay from your pocket. Your medical bills are settled directly by the insurance company to the hospital. In reimbursement, you have to settle the hospital bills and claim reimbursement from the insurer after submitting the bills. Obviously, cashless claims are much more convenient but for cashless claims you have to go to a hospital which is in the hospital network of the insurance company.
Your health insurance premium will depend on the sum insured (amount of health insurance cover), your age / age of your family members (in case of a family floater plan), pre-existing medical conditions, the policy features you opt for e.g. what illnesses / procedures are covered, exclusions, type of room you are entitled to (single, sharing basis, deluxe etc), co-pay (what percentage of the expenses e.g. 20% you will have to pay in the event of an hospitalization) etc. There many points to consider when buying health insurance or Mediclaim. Your insurance advisor will be able to recommend the right health insurance product for you, based on your needs.
Ever heard of Health Insurance Portability? It's like taking your favourite phone number to a new phone company - you can switch but keep the same number! Well, health insurance portability works similarly for your health coverage.
Health Insurance Portability in India lets you switch from one health insurance provider to another without losing your accumulated benefits. It's helpful to keep your health coverage flexible and suit your changing needs.
Let's say you're not happy with your current health insurance provider, or maybe you found a better plan elsewhere. Health Insurance Portability allows you to make that switch without any hitches.
You can apply for portability at least 45 days before your current policy expires. The new insurer will go through your application and offer a similar or better plan. Plus, your waiting period, pre-existing disease cover, and other benefits from your old policy will be carried forward.
It's like moving to a new school but still having your best friends with you! Health insurance portability ensures your health coverage journey remains smooth and uninterrupted.
So, if you're looking for a change or better health insurance benefits, Health Insurance Portability might just be your go-to option!
Premiums paid toward health insurance policies may be eligible for tax deductions.
Hospitalization :: Covers the cost of room charges, surgery, ICU charges, and more.
Pre- and post-hospitalization :: Covers doctor's fees, diagnostic charges, Cost of medicines, medical equipments, consumables etc and more.
Daycare :: Covers procedures that don't require hospitalization.
Prescription drugs :: Covers the cost of pharmaceutical medication that can only be obtained with a written order (prescription) from a licensed healthcare professional during the hospitalization or surgery.
Laboratory services :: Insurance providing a wide range of laboratory procedures that aid clinicians in diagnosing, treating, and managing patients.
Ambulance :: Covers the cost of ambulance services.
Preventive health :: Covers annual check-ups to help monitor your health.
In health insurance, "add-on covers" or "riders" are optional, additional benefits you can purchase alongside your base policy to enhance your coverage, offering protection for specific health needs or conditions not covered by the standard plan.
Maternity & newborn services :: Maternity health insurance service is a type of health insurance that covers expenses related to pregnancy, childbirth, and postpartum care, including pre- and post-natal visits, delivery costs, and newborn care
Consumables Cover :: Pays for various non-medical expenses incurred by policyholders during hospitalization ,such as single-use items like syringes, gloves, and masks, that are often excluded from standard policies.
No Claim Bonus Safeguard :: Protects the no claim bonus (NCB) from any claims raised during the policy year.
Critical Illness Cover :: Provides a lump-sum payment upon diagnosis of covered critical illnesses (like cancer, stroke, or kidney failure) regardless of treatment costs.
Personal Accident Cover :: Offers protection against unintentional injuries, compensating for permanent, partial, or temporary disability or death resulting from an accident.
Room Rent Waiver :: Extends the hospital room rent limit, allowing you to stay in a superior room without exceeding the policy's coverage.
DISCLAIMER -
Insurance is the subject matter of the solicitation. While every effort has been made to ensure that the information given is correct, the author does not hold himself liable for any consequences, legal or otherwise, arising out of use of any such information.