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Five Health Insurance Benefits You Should Know

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Online Health insurance plans by Bajaj Allianz include individual health insurance, family floater health insurance, add on health cover, senior citizens and women specific critical health insurance policies. For more details – PowerPoint PPT presentation

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Title: Five Health Insurance Benefits You Should Know


1
Your investment in a health insurance policy
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Five Health Insurance Benefits You Should Know
  • Given the high cost of treatment in todays
    scenario, having a health insurance plan is a
    must though it is not mandated by the
    Government, not having an insurance plan can
    prove to be an expensive decision. There are
    different types of insurance plans available with
    different benefits. You should compare these
    plans against the benefits they offer and choose
    the best insurance plan that meets your specific
    requirements.

3
  • Your investment in a health insurance
    policy is clearly done with the objective of
    protection and wellness of yourself and your
    family members. Also, the financial objective of
    a health plan is to secure against capital
    erosion. Based on your health condition,
    lifestyle, and premium payment capability, you
    can choose a basic plan, a supplemental plan or a
    comprehensive insurance plan. Therefore, it is
    important to understand the minor details of the
    insurance plan you choose to buy.

4
  • All health insurance policies take care of
    your hospitalization expenses. However, there are
    several miscellaneous expenses that add up to a
    substantial amount. For instance, travel expenses
    to and from the hospital, doctor consultation
    fees, cost of refreshments, prescription drugs,
    etc. Some insurance policies offer a daily
    hospital cash allowance to cover these expenses.
    Likewise, there are other such benefits that
    insurance policies offer. Your insurance agent or
    the sales representative may not have explained
    these details to you in greater detail while you
    purchased your policy. Therefore, it is important
    to be aware of these little known facts to better
    utilize your insurance plan. Here are five such
    insurance benefits you should be aware of

5
  • 1. Pre and Post Hospitalization Expenses
  • While all insurance companies cover
    hospitalization expenses, it is important to
    check if the policy you intend to buy offers pre
    and post hospitalization cover. Such expenses can
    run into several thousands depending on the
    nature of the illness and the duration of the
    treatment.

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  • 2. Policy Cover Enhancements
  • Your policy cover may become eligible for
    enhancements to current benefits as a result of
    change in companys offerings for the subscribed
    plan, regulatory mandate, or simply because the
    company decided to extend such benefits
    considering your policy tenure or for no previous
    claims. In any case, such cover enhancements can
    prove to be beneficial. For instance, rare
    medical conditions such as cost of surgery for
    Deviated Nasal Septum (DNS) is not covered under
    most insurance plans. However, this might get
    coverage in the future for one of the reasons
    mentioned above. Therefore, you will have to keep
    a look out for communication from the insurer at
    all times to understand benefit additions to your
    policy.

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  • 3. Organ Donor Expenses
  • Organ transplantation expenses are
    prohibitively expensive. Such procedures puts
    tremendous financial strain on the insured. In
    these cases, besides the organ recipient, the
    organ donors expenses are to be borne by the
    insured in case the donors expenses are not
    covered by the insurance plan. Many insurance
    plans cover the cost of the donors treatment as
    well. Verify if the plan you intend to buy offers
    this facility.

8
  • 4. Domiciliary Treatment
  • There might be a situation where your
    doctor recommends you to go for treatment while
    staying at home. It is a common notion that
    health insurance covers in-patient expenses only.
    However, many plans cover domiciliary treatment
    costs as well. However, the amount and the tenure
    for which the insured is payable is capped as a
    percentage of the sum assured. For instance, your
    sum assured is five lakhs. Then the benefit could
    be restricted to 10 or Rs.30,000 whichever is
    lower.

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  • 5. Critical Illness Cover
  • Critical illnesses and associated treatment
    such as dialysis, chemotherapy, etc are extremely
    expensive. While your insurance plan might cover
    the cost of such treatment in some cases, these
    treatments are covered post a certain number of
    years of policy commencement you will stand in
    good stead to know if your policy offers a higher
    sum assured limit for critical illnesses. This
    can be done by way of adding a critical illness
    rider to your existing health insurance plan to
    increase your risk coverage provided your
    insurer offers this facility. Your health
    insurance plan is as good as how you utilize it.
    Therefore, be aware of the minute details and
    features of the benefits of your health plan so
    you can utilize it the best. Before you purchase
    a health insurance plan, do a quick comparison to
    understand a plans features and benefits.

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  • To Know more details http//www.bajajallianz.
    com/Corp/health-insurance/health-insurance.jsp

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