Published On : Fri, May 28th, 2021

The Ultimate Guide on Health Insurance Policies

The rising medical costs are troublesome. It is becoming a potential challenge to cope with these medical expenses for the public. But the fact that their deteriorating health demands it, such situations leave them with no room for avoiding it. As a result, they must spend all their life-long savings and other valuable resources to gain proper medical care facilities. But not anymore!

Health Insurance policies are an agreement between the policyholder and the insurance provider wherein the latter promises to compensate for the former’s health care expenses in need. As a result, anyone who requires urgent treatment does not have to worry about their financial crunch. If their term of the policy is active, they can easily acquire their cover and receive cashless treatment.

Cover

When you apply for a health insurance policy, the insurance provider will expose you to all the benefits and cover you will receive. Medical services such as hospitalization charges, health care check-ups, treatment charges and ambulance costs will all be borne by the insurance company. They will also list out a few hospitals where the cover will be applicable. So, you can visit those hospitals timely for convenience. Some of the hospitals will provide utterly cashless treatment to you. SO, make sure you clarify all this with your health insurance provider.

Medical Test

Today, many insurance companies will require you to sit for a medical test. Most individuals above the age of 60 are required to undergo this process for a flexible insurance plan. It depends on the medical report of the individual that the insurance provider will decide the premium. In case the medical report is quite awful, the insurer may even reject the policy altogether. But it is always wise to give them complete and correct medical information about your medical history, limiting the complication. Otherwise, you may end up getting an insufficient insurance policy for yourself.


Waiting Period

Before you receive insurance, your insurance agent will ask you what pre-existing diseases you may be suffering from. You must tell them honestly whether you have one or not so that the waiting period can be set accurately. If you are already suffering from a pre-existing disease, you may have to wait for one to four years to claim treatment expenses related to the disease. Thus, the waiting period may differ for each condition.

Exclusions

Many health policies do not come with a few ailments and diseases. So, before you apply for the procedure, you must keep in mind to consult your insurance provider regarding the same. It will help you abstain from any future hassles. If you seek insurance service at potential companies such as IIFL insurance, it is crucial to focus on this.

The Bottom Line

Although it may seem easy for many people to opt for a health insurance policy, you must make sure that you speak to an insurance agent to avoid any complications in the long run. Remember, it is significant to receive proper coverage for those urgent times. So, do not miss the chance.