What All You Should Know About Health Insurance Policies
Health insurance policies are usually availed by people as a tax saving measure. This is the state of affair in India because there are no rules. Though there is greater awareness about health insurance and its benefits, there are still a number of people who purchase health insurance just because of others in their family circle or peers circle. Health insurance is one thing you should not shop for in this fashion. It is because each individual is unique and there would be many factors to be considered while buying a policy for yourself. For example, there will be difference in the number of members in the family. Moreover, there might or might not be senior citizens in the family. Since health insurance has to be done with due consideration of all these facts, it has to be chosen with care. Religare Health Insurance Plans are designed to cater to all types of families and all types of requirements.
How Does Health Insurance Plans Work?
Health insurance plans are developed to help you tide over financial losses that might occur in case you or your family members have to be hospitalized for some medical reasons. The health care costs are escalating at a rapid pace. If you are hospitalized suddenly for some reason, you might have to spend all or most of your savings for meeting the hospital expenses. Additionally, you would not be able to earn for that period of time as well. Your savings must be used to tide over the expenses for running the family during that period too. This would be too much of a financial burden. Same applies if anyone in the family other than you falls sick too. Religare Health Insurance Plans are not only designed to offer complete coverage for your family members but also offer preventative healthcare in terms of health check-up annually for all family members.
How Should You Shop for Health Insurance Policies?
A health insurance policy can be worth the while when you purchase a policy after giving due consideration to the variables that make an Insurance plan a perfect one for you.
The Variables Include
Age till Which You Can Avail New Coverage And Are Covered
The health insurance providers generally set an age limit for taking up policy as well as the age till which they would offer coverage. This is done because of the chances of falling ill increases as you get older. But, The policies with family floater plan as well as lifetime renewable plans offered by most of the insurance service providers will help you tide over the age coverage factor.
Network of Hospitals
Most insurance companies market their plans citing network of hospitals as an important feature for availing their insurance plans. Religare Health Insurance Plans to help you to avail cashless hospitalization in over 6000+ hospitals in their network. But, as a consumer, you should ensure that at least two of the network of hospitals are closer to where you live. This is because you might not be able to reach the hospital in the network to avail the benefits within the golden hour if it is far away when there is a medical emergency. Also, check the facilities and treatment standards in the network of hospitals that have been enlisted by the insurance company.
Room Rent Allowance
Room rents vary from one hospital to another. It is advisable to choose health insurance plan that either offers a bigger limit or one that comes with no limit. This ould be ideal to meet the variable costs that differ from one hospital to another. Most of the times you would see that the insurance company would only pay a percentage of the room rent. This might not be quite beneficial as you would have to incur out of the pocket expenses. You also have variable coverage policy as far as room rents are concerned depending on the sum insured as you will see in Religare Health Insurance Plans.
Coverage in Case of Pre-Existing Diseases
There will be a waiting period for you to become eligible to avail a claim. This would usually vary between 30-90 days. When you have purchased a policy citing a pre-existing health condition, the waiting period will range from 2-4 years. When you shop for insurance plans, you should make a note of this period and also compare it with other policies on this criteria.
No Claim Bonus
No claim bonus refers to the bonus amount that would add up to your sum insured or a reduction in the premium amount to be paid if you do not make any claims in a year. When you shop for a policy, learn about the policy of the company about the NCB. After purchase ensure that the no claim bonus is added when you do not make a claim. Religare Health Insurance Plans Offer NCB of 50%-150% depending on NCBS.
Add-On Covers and Riders
Add-on covers and riders are additional benefits you can avail over and above the base plan if you are willing to pay an extra premium. While this is good news and there are a number of add-ons offered by different insurance companies to make it a comprehensive package, it is important that you do not go overboard and buy add-ons that you are not likely to use at all. Considering the fact that every add-on will bring a corresponding increase in the premium you would have to pay.
Religare Health Insurance Company
Religare health insurance company is one of the leading insurance service providers in the Indian market. Their policies are designed to cover a maximum of 6 family members with up to 2 adults. They offer preventative health check-up benefits annually. Since the plans of this insurer are lifelong renewable, you do not have to bother about the age of coverage. You will be able to get NCB starting from 50% to 150% added to the sum insured depending on the number of years in which you have not made a claim. With Religare health insurance, you can avail treatment anywhere in the World.