Frequently Asked Questions About Health Insurance

With the decision to buy a health insurance policy comes a big box of questions related to the purchase of the policy. There are a plethora of options that are available in the market when you want to buy a health insurance cover. You can choose a suitable policy cover for yourself with ample amount of research on the web. You must compare the potential health insurance covers and make a wise choice based on certain factors like your financial budget, pre-existing diseases, medical history, sum assured, and much more. 

While buying a health insurance policy, you might face a lot of doubts and might need to answer a lot of questions. You can clarify your doubts and understand completely about your purchased policy from the insurance provider, else you can look up on the internet as it is flooded with the possible answers to all your questions. In this article, you will come across the answers to the frequently asked questions on the health insurance policies by most of the customers. 

Frequently Asked Question On Health Insurance By The Customers 

Following are the answers to all the possible questions that are frequently asked by the customers with regard to the health insurance policy: 

1. What is Health Insurance? 

A health insurance cover is a contract between the insurer and the policyholder abiding to which the insurer pays for your medical expenses for hospitalization at the time of an emergency at a particular premium specified under the purchased plan. 

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2. Why is a Health Insurance Policy Important?

A health insurance plan is essential as it provides monetary support to the policyholders to avoid them from exhausting their financial savings. It also ensures you quality treatment at the private hospitals in case of a medical emergency. 

3. What are the Types of Health Insurance Plans that are Available in the Market? 

The health insurance providers have rolled out different types of health insurance policies which serve the same purpose of shielding one's health but differ in their features and benefits. Some of the common types of health insurance plans are individual health insurance policy, family floater plans, critical illness plans, maternity benefit covers, top-up covers, personal accident covers, and super top-up cover. There are many other options available that you can research and compare based on your requirements. 

4. What is a Cashless Claim Facility? 

Under the cashless claim benefits, the policyholders can receive cashless treatments at the network hospitals of the insurance company. Under this benefit, the insurer directly clears your medical dues with the hospital without involving you or any third-party. This benefit makes the claim settlement process smooth, quick, and hassle free for you. 

5. What are the Major Factors that Affect the Premium of a Health Insurance Policy?

The premium of your health insurance policy is determined by considering the factors like sum assured, age of applicant, deductibles, medical history, plan chosen, etc. To get an idea of the premium of your desired policy, you can use the online premium calculator. 

6. What is the Waiting Period of a Purchased Health Insurance Plan?

The waiting period for a health insurance policy is the time period for which you cannot claim the policy starting from the date of commencement of the policy. It usually is for a period of 30 days but can differ from one policy to the other depending on the coverage of the diseases. For pre-existing diseases, it can range from 2 to 5 years. Therefore, you must buy health insurance cover as early as possible to get over the waiting period. 

7. How to Purchase a Health Insurance Plan? 

After you have chosen a suitable health insurance policy for buying, you can either purchase the plan online on the official website of the company or visit the office of the insurance company near you. These days with the advancements in technology, the purchase and renewal of insurance policies can be done online without much effort. 

Conclusion 

You must always conduct your research on the different health insurance plans that are available in the market and after comparing the best ones, you can conclude to buy a suitable plan for yourself. The policy-related documents of the purchased policy must be read thoroughly to understand the terms of the cover and avoid any confusion at the time of claim settlement. 

Also Read: Top 5 Health Insurance Plans That You Can Buy In 2021

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.