Mis-selling health insurance policies is quite common in the market. There are thousands of people that face similar problems. Brokers do all the promises in the world to sell you an insurance policy after which they hardly even show their faces!
If you are someone who is planning to get an insurance policy. Then this article is only for you. In this article, we will see 5 things that you should check before buying health insurance in India.
5 Things to check before Health insurance policies in India
Let’s take a look at the 10 things before taking Health Insurance Policies:
The Age Criteria
When it comes to health insurance, age is one of the biggest factors to check. While buying health insurance keep in mind the age of the people who are insured in the policy.
In a family floater policy, The premium cost would be determined by the age of the eldest family member.
When purchasing health insurance, you can also consider the age limit criterion. For example, certain insurance plans have a minimum age requirement of 91 days and a maximum age requirement of up to 60 years.
There are also proposals for a minimum age limit of 25 years and a maximum age limit of 50 years. There are some plans, however, that do not have any age limits. As a result, you have the choice of making the appropriate decision.
The Right Combination of Premium and Coverage
Buying health insurance with the lowest premium can be lucrative. However, there are two sides to any story. A policy with a lower premium can be beneficial if it offers extensive coverage at a premium you can afford. The other benefit is a lower premium for insurance coverage.
Thus, the safest way is to investigate the explanations for a lower premium, which does not come at the expense of insurance coverage. Check to see if there are any additional co-payment, deductible, or sub-limit provisions; if there are, you will end up paying more at the time of claim.
The Waiting Period Clause
You would be in a better position to make a decision if you are mindful of the waiting period clause. During this time, the insurer would not consider any claims resulting from pre-existing conditions or specific illnesses.
And it will last anywhere between 24 and 48 months, depending on the insurer and the package you choose. Furthermore, you will be entitled to seek benefits only after this time span has passed.
This waiting period would extend to any pre-existing conditions such as thyroid disease, high blood pressure, diabetes, and so on that, a person might have until purchasing the policy. It also applies to various treatments and diseases such as arthritis, varicose veins, cataracts, and so on.
As a result, you can compare and pick a package that has a short waiting time before you can receive benefits in the event of a medical emergency.
Claim Process
You should Examine the policy’s terms and conditions, as well as the insurance company’s health insurance claim procedure. When it comes to settling health disputes, a smooth claim process is a lifesaver.
You may do some research, read online consumer feedback, and choose a health insurance company with a reputation for fast claim settlement.
Coverage of Maternity Expenses
Many people make the mistake of ignoring the maternity benefits of their health insurance program. With the cost of delivery and prenatal care now at an all-time high, it’s a good idea to invest in a health plan that includes maternity coverage. Usually, there is a 2- to 4-year waiting period before you can seek benefits.
For example, if you want to get married or start a family in three years, a plan with a two-year waiting period would suffice.
Choose a package that, in addition to the delivery fee, covers the medical costs of a newborn infant. Often, don’t forget to look at the constraints that come with it.
The Conclusion
Congratulations you are safe now! Now that you are aware of the things to check before buying health insurance in India make sure that you don’t get yourself into fraud and get missold by a broker!
If you are looking for a solution to a health insurance complaint then file a complaint at Voxya an online consumer complaint forum to resolve your complaints quickly. It helps consumers to get a replacement, refund and compensation as soon as possible. Voxya an online consumer forum trusted by 76,000+ consumers across India.