Five Health Insurance Benefits You Should Know

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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.

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• 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.

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• 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

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• 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.

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• 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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