Health Insurance

1
COMMON TERMS IN HEALTH INSURANCE

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2
PRE-EXISTING ILLNESS
Illnesses that existed prior to the date of
purchase of the policy are known as pre-existing
illnesses. By and large, providers refuse to
cover illnesses that existed before the policy
commencement. However, some insurers cover this
with a waiting period or charge an additional
premium or put terms and conditions for such
coverage.
3
WAITING PERIOD
There is waiting period for all health insurance
policies. The usual waiting period is 30 to 90
days for most health plans. There will be no
cover during the waiting period.
4
MINIMUM HOSPITALIZATION STAY

• A minimum hospitalization period of 24 hours (may
  vary based on the policy) is necessary to claim
  the benefits under hospitalization cover.

5
CASHLESS FACILITY

• Cashless hospitalization, if offered by the
  policy, will not require you to pay at the time
  of admission to a network hospital which has a
  tie-up with the provider.
• An Insurer or a Third Party Administrator on
  behalf of an insurer will be responsible for
  settling the bills. If admitted to a non-network
  hospital, the insured must settle the bills and
  claim a reimbursement from the insurer.

6
EXCLUSIONS
Reading your policy document thoroughly and
coming to grips with whats not covered will go a
long way towards being prepared for exclusions
under the policy. There are some exclusions
that are standard across policies such as dental
treatment, venereal disease, AIDS, congenital
diseases, intentional self-injury and so on.
7
GRACE PERIOD

• The additional period offered for the payment of
  premium post the due date is known as the grace
  period. General insurance companies offer a
  15-day grace period but you would do well to
  check how many days your policy allows.

8
GRIEVANCE REDRESSAL

• Any grievance related to your health policy
  should first be taken up with the insurer. The
  complaint should be acknowledged by the insurer
  within 3 working days.
• In case you are unhappy with the resolution of
  your grievance, you can register a complaint with
  the Integrated Grievance Management System portal
  of IRDAI.

9
Navnit Insurance Broking Private Limited 172,
Solitaire Corporate Park, Building No. 1, 7th
Floor, Andheri-GhatkoparLink Road, Andheri
(East), Mumbai, 400093, Maharashtra, India IRDAI
Broker License No. CB/446/09 Product information
is authentic and solely based on the information
received from the insurer. Sales Assistant
[phone] Claims/Service [phone]
info_at_policies365.com Toll free number
18001026234

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