Fortunately, there are a few essential things you can check to know whether a policy is indeed good for you. Health insurance questions related to these critical factors are discussed below-
1. What are the Inclusions and Exclusions of the Policy?Most people check the sum insured and premium of the policy only and go with the cheapest option. However, you should know that cheap policies have several exclusions. Before buying, you should ask about the inclusions as well as the exclusions of the policy.
Most policies generally cover hospitalization charges, room rent at the hospital, pre-and post-hospitalization, medical check-ups, and ambulance charges. The inclusions should be as high as possible, and the exclusions should be minimum.
2. What is the Maximum Policy Renewal Age?This is very important for someone in their 40s-50s. As you cross 50, the chances of you suffering from a medical condition rise considerably. As a result, many of the health insurance plans do not allow you to renew the policy once you reach 50-55 years.
You should select a policy with a high renewable age as possible to make sure that your health remains covered for a longer duration.
3. Is Cashless Claim Facility Available and How Many Network Hospitals?With the cashless claim, you are not required to pay anything at the hospital for receiving the treatment. The insurer will directly clear your dues. This is far convenient than the traditional reimbursement facility which required you first to pay the bills and then get it reimbursed.
However, to use the cashless claim facility, you will be required to get admitted to one of the network hospitals of the insurer. So, the insurer should have several network hospitals all over the country, especially close to your location.
4. How to File a Claim?As emergencies can occur anytime, it is essential to know about the claim filing process too. Most importantly, ask about the documents that you will have to submit to file a claim successfully.
Make sure that you ask about the claim process for both, when you are admitted to a network hospital, and even non-network hospital as the process can vary considerably.
Ask these health insurance FAQ to your insurer before buying health policy and only go ahead with the purchase when you are fully satisfied with the answers
Learn more about different Health Insurance Plans here.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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