In today’s stressful scenario, medical emergencies and chronic illnesses can throw your life off gear; this is where a well-conceived health insurance plan comes in handy and protects you against the risk of incurring medical expenses. The payment made to the insurer lays the grounds for a more relaxed life and helps you estimate the amount that will come to your aid in times of medical-based needs. It’s quite common for people to just keep on paying premiums without knowing the features of their health insurance policies; therefore, it is important to understand the structure of such policies and check upon the various things that many other existing health insurance owners aren’t aware of health insurance benefits.
Table Content
- Health Insurance Policy – A Closer Look
- Pre-Hospitalization Expenses
- Post-Hospitalization Charges
- Tax Benefits
- Types of Health Insurance Policies
- 1. Individual insurance plans
- 2. Family insurance plans
- 3. Health Insurance for Senior Citizens
- Health Insurance Benefits
- Lifelong Renewal
- Attendant Allowance
- Domiciliary Treatment
- Way Forward
- Related posts:
Health Insurance Policy – A Closer Look
Reputed companies offering comprehensive health insurance policies boast smooth processes, easy modes of premium payments, and take care of your medical treatment expenses in case of hospitalization.
Pre-Hospitalization Expenses
Typically, pre-hospitalization expenses consist of the charges incurred by the insurance company before one gets hospitalized. The period considered for the purpose in most cases is 30 days after the insured gets discharged.
Post-Hospitalization Charges
Post-hospitalization charges include the consultation fees of medical experts/doctors/surgeons; medication and further checkups; and all other additional costs that are borne by the insurance company. The period considered for post-hospitalization insured costs purposes is mostly 60 days after the patient gets discharged.
Tax Benefits
Apart from pre and post-hospitalization charges, you should also take care of the tax benefits under section 80d that are provided in the plan opted for by you. Additionally, the cumulative bonus that accrues in case you do not make any claims even after having paid the premiums has to be calculated before purchasing a plan.
Types of Health Insurance Policies
Apart from scores of customized plans offered by different insurance companies, the most common health insurance policies available on the racks include:
1. Individual insurance plans
Individual insurance plans come packaged with cashless hospitalization and often restore benefits with a 100 percent no claim bonus. Most companies do not incorporate additional loading during the time of renewal for claims.
2. Family insurance plans
Family insurance plans cover all members of a family under a singular plan and usually have no additional loading when renewed. They boast of a 100 percent no-claim bonus in most cases and the sum insured may vary in proportion to the benefits procured by the insured.
3. Health Insurance for Senior Citizens
Senior citizens’ health insurance often provides lifelong cover for the insured and his/ her spouse. Along with cashless coverage across a wide network of hospitals, a discount is offered for each claim-free year and there are no claim-based loading in case of renewals.
Given below are the various good health insurance policies structures of various companies that will help you compare various health policies in India.
Health Insurance Benefits
Lifelong Renewal
Most insurance company provides you, lifelong renewal along with their plan. This is just because if you buy a health insurance plan and after some time you didn’t want to renew it because you didn’t get anything. But the entry age of health insurance policy decided a range of 70-80 years, well as you become older you need medical emergencies more than usual. In such a situation, you need someone who’ll help you in this period of life and with lifelong renewal, you can start your health insurance at any age of life.
Attendant Allowance
There is a lot of features in a health insurance policy that makes things easy and sorted for you and attendant allowance is just one of the features. If a person is admitted to the hospital, another person stays in the hospital with the patient to take care of him. The insurance company takes care of the person staying with the patient under the attendant allowance and taking care of the person staying with the insured person is called Attendant Allowance in health insurance.
Domiciliary Treatment
It must have happened many times that your health is very bad and you want to be admitted to the hospital but there is no bed or room available in the hospital and your condition is critical and in such a situation the doctor cannot order you to transfer but your treatment is also very important, so in such a situation, the doctor tells the remedy for treatment at your home and this treatment has been named as Domiciliary Treatment.
Way Forward
Various health insurance policies should be compared wisely before taking it for oneself or family. These plans can be purchased online with ComparePolicy.com or at local insurance offices and get health insurance benefits given by insurers.