Unhappy with your health insurance?
Most of the health insurances have complicated terms and conditions and extreme care needs to be exercised before choosing a health policy. If you fail to pay extra attention, it might bring you hideous surprises from the insurance company. If you are unhappy with your health insurance policy, here are some steps to help you out.
You have read the fine print of your insurance policy and you feel this product does not suit your requirement. In such case, you can use the free-look period which allows you to exit the policy.
The duration of the free-look period is 15 days which starts from the day you receive your policy document. This option is valid only if your policy has a three-year term. You can contact the policy provider and initiate the refund which will exclude the cost of the pro-rotated period for insurance, stamp duty, and medical tests.
But you can also consider choosing an alternate health insurance policy instead of initiating the cancellation.
Make a complaint
If you are dissatisfied with the services provided by the health care provider, you can make a complaint to the Grievance Redressal Officer of the insurance company. You need to submit the complaint in writing with the necessary supporting documents.
If the Insurance company fail to address your grievance within 15 days, you can approach the Grievance Redressal Cell of the Consumer Affairs department for further help.
Choose a policy with preferred treatments
Every Insurance Policy comes with waiting periods associated with certain diseases and medical procedures. If your insurance policy does not suit your medical requirement, you can opt for the one that covers your ailment and treatment.
Top-up your policy
If you feel that the sum insured is too low to cover your medical expenses, you can top-up your health insurance plan. This can be done once you have exhausted your other policies during the period of your treatment. This plan helps you increase your coverage at a low cost.
Port your policy
Porting your policy is an easy way to end your bitter terms with your health insurance provider. However, there are several rules and regulations to port your policy to another insurer. You can port your policy only 45 days before it is due for renewal.
Choosing the right health policy can avert your financial loss.The above-mentioned points can save you from running into a potential financial disaster.