Health care industry in India is one of the important sectors that is witnessing a rapid growth. Health insurance policies can be taken both for an individual and family members. It can safeguard your family from any unexpected illness, which might otherwise dig a deep hole in your pocket. While taking a health insurance policy, it’s important to note that the following benefits are available in the policy.
Step 1: Pre & Post Hospitalisation Expenses
Pre-hospitalisation expenses may include medical tests, blood test, urine test, doctor consultation, etc. Ensure that your health insurance policy covers all these expenses. The health insurance provider generally offers up to 30 days of pre-hospitalisation coverage until the day of admission into the hospital.
All the health insurance policies provide daily hospital expenses under their gambit. Apart from that, you should also check if your insurance provider gives you post-hospitalisation expenses, which may include medical tests, doctor consultation, etc. The health insurance policies generally cover up to 60 days of post-hospitalisation expenses.
Step 2: Free Health Check-up
This is one of the perks of buying a health insurance policy. Most of the policy providers offer free health check-up at network hospitals once a year. The results of the medical check-up will not have any impact on the policy. This is purely for the underwriting process, and the policyholder can increase the sum insured based on the result of the free health check-up. It mainly includes tests such as blood, sugar, urine, cholesterol check, etc.
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Step 3: Maternity Benefits
A health insurance plan with maternity coverage works well for couples who are between the ages of 20 and 40. This will cover the expenses of both normal and caesarean deliveries and expenses for the new- born baby. Maternity expenses of up to Rs. 2 Lakhs are generally covered in such type of health insurance policies. Also, get additional covers on maternity benefits in order to get a comprehensive coverage.
Step 4: No Claim Bonus
‘No Claim Bonus’ in a health insurance plan is another perk for the policyholder for staying healthy and making no claims. The benefit of ‘No Claim Bonus’ is that the insured can get a significant increase in the sum insured for the same premium in the up coming years. With ‘No Claim Bonus’, the policy holder can get up to 50% increase in the sum insured overall. It could be maximum of 5% increase in the sum insured per claim free year.
Step 5: Lifelong Renewability
Some of the health insurance policies come with the validity of up to 70 to 80 years and only some provide lifelong renewable facility. Lifetime renewability is an added advantage in a health insurance policy. Make sure your insurer provides this facility. It provides a lifelong financial security to the policyholder against expensive medication till death.
Step 6: Domiciliary Hospitalisation Expenses
Domiciliary hospitalisation is a situation where the policyholder is considered to be hospitalised even if he/she sits at home. The health condition of insured does not allow him/her to be admitted to the hospital, and the treatment is continued at normal circumstances in the comfort of the policyholder. The expenses incurred from such situations are also covered under a health insurance plan. Make sure that your policy provides this facility.
Step 7: Expenses Related to Organ Donor
The cost of a transplant surgery can be huge which could range between of Rs. 3 lakhs and Rs. 5 lakhs. This expense may increase in the upcoming years. Lucky you are if your health insurance policy covers expenses related to the transplant surgery and also the expenses incurred for the donor’s hospitalisation and post-surgical complications. Choose a health policy that provides a comprehensive coverage against expenses related to organ donor and transplant surgery.
Step 8: Ambulance Charges
Not many insurers provide the coverage against the expenses incurred due to ambulance transportation. If you have not been covered for this expense, get a coverage as soon as possible as the transportation cost in case of emergencies can save you significant money.
Step 9: Day-Care Procedures
Some of the surgeries that earlier required prolonged treatment now require only 24 hours of treatment, and many assume that such treatments are not covered under a health insurance policy. But contrary to their beliefs, now most insurers provide coverage against all such treatments which is known as day-care procedures. You can get covered for treatment towards cataract, radiotherapy, chemotherapy, dialysis, angiography, tonsillectomy, lithotripsy, etc.
Step 10: Coverage Against Critical Illnesses
A critical illness can be life threatening, and moreover, it can cost your monthly income, which may be used for family expenses. As a critical illness may require a medical treatment for a long period of time, the expenses for such medication could be huge. Most of the health insurance providers offer coverage against over 40 critical illnesses. Make sure you get a good coverage against all such ailments and protect your family members as well under this facility. The policy may be structured to pay out a regular income to the policyholder or payment of lump sum for surgeries and treatments.
Step 11: Cashless Claim Benefit
Handling hospital bills and getting cash ready could be a bit of a hassle, especially when you are going through treatment for critical illnesses. Most of the insurers now provide a health card that can help you make cashless claims at the network hospitals. Before choosing a health insurance policy, check if your insurer provides this facility as it can make the claim process quicker.
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End Note
A health insurance policy indeed provides a financial security against various illnesses or any hospitalisation expense. Before choosing a health plan, it’s important to check whether the policies provide a comprehensive coverage so that you get all the benefits. Moreover, make sure to read all the terms and conditions before buying the health insurance plan.