Point of work: When purchasing health insurance, keep these 8 things in mind, including the claim settlement ratio and the network of hospitals
The second wave of Corona epidemic has gained momentum in the country. Treating a disease like corona can take savings of your life. If you do not want to get into this type of situation, then take health insurance as soon as possible. With health insurance, you will not only get the right treatment without worrying about money, but your savings will also be saved. But while taking insurance, it is important to keep many things in mind. We are telling you about 8 such things.
What will be covered in the policy
Understand this properly: Insurance companies are offering many types of insurance policies. Every insurance company has its own rules. Before buying a health policy, understand how much and what it will cover. The policy which covers more and more things like test expenses and ambulance expenses should be taken. So that you do not have to spend money out of pocket.
Keep in mind the claim settlement ratio if you are planning to buy insurance.
So be sure to check the claim settlement ratio of the company you are taking the policy from. It is very important to have more of the settlement ratio. A higher settlement ratio means that the insurance company has settled more claims. This shows that the company’s under-writing rules are not very strict. Life insurance companies in their annual report give the claim settlement ratio figures. The company gives the claim settlement ratio figures in the annual report. The company should see a claim settlement ratio of 3 to 5 years.
It is important to see whether pre-existing diseases are covered or not
All health insurance plans cover pre-existing diseases. However, they are covered only after 48 months. Some cover these after 36 months. However, at the time of purchasing the policy, one has to tell about the pre-existing diseases. This does not hurt the claim settlement.
Have a good network of hospitals
Before investing in any health plan, make sure that you have considered the network hospitals under the plan. Network hospitals are a group of hospitals that allow you to redeem your current health plan. Always go for the plan that provides the maximum network hospital in your area, otherwise your investment will not come in handy in times of emergency.
Ko – Pay will have to choose heavy on the pocket
In order to save some money and reduce the premium many times people take the facility of pay. Co-pay means that in case of a claim, the policy holder will have to pay some percentage of the expenses themselves (eg 10 per cent). Choosing Co-Pay is not much of a premium discount. But if you fall ill, it can empty your pocket.
Do not hide your medical history
While taking a health policy, many people do not disclose their medical history properly in the application form. Some people do this because they are aware that disclosing these conditions such as diabetes, high blood pressure, etc. can cause their application to be rejected. Keep in mind that not disclosing any facts is misunderstood by insurance companies and they can reject your claim.
Do not take limit or sub limit plan
Avoid the private room rent limit in the hospital. It is not necessary for you to be kept in which room during the treatment. It is not right for you to set a limit or sub-limit by the company for expenses. Keep this in mind while taking the policy. Sub-limit refers to setting a limit for re-insemination. For example, if admitted to the hospital, room rent may be limited to one per cent of the sum insured. In this way, no matter how much the policy is insured, hospital bills may have to be paid out of pocket for spending more than the limit.
Keep in mind the waiting period while taking health insurance
Buying a health insurance policy does not mean that the insurance company will cover you from the very first day of buying the policy. Rather, you will have to stay for a few days to claim. That period is called the waiting period of a health insurance policy until after you buy the policy, until you can claim any benefit from the insurance company. This period can be from 15 to 90 days. You should take a policy from a company whose waiting period is short.