10 Hidden Health Insurance Facts

You have a new job. You have a low salary. But you are saving 2-3 thousand rupees every month. Because you have to buy a car or a house for your family. You are making a down payment for that. You have been saving money for 2-3 years. You have 1.5-2 lakh rupees. And suddenly, one day you fall sick. You stay in the hospital for 3-4 days. And when the bill comes, you are surprised. 1.5-2 lakhs bill. All the money that you had collected for the down payment of your house. go away in a flash. And your dream of buying a house breaks. And then we feel very guilty that we should have taken the health insurance policy. Because only a few hundred rupees you would have given and you would have been free from such medical shocks forever.

Now why don't we take health insurance? For two reasons. One, no one likes the old experience of the house. There was a lot of premium. The policy seller said that the claim will be given, but the claim was not given at the time of need. So we believe that this policy is of no use. And second, Either it is very expensive or it is complicated. We don't understand which policy to take and no one is going to guide us correctly. So today in this post, in the next 10 minutes, I will explain in 10 simple points how you can choose the perfect health insurance policy for yourself. So today in this post, we will choose a perfect health insurance policy for you which will be useful and affordable when needed.

So today, let's understand the health insurance policy properly. Point number one. Waiting period clause. This is a condition due to which many people are always disappointed with health insurance policies that it is of no use. So there is a clause in this policy that says, that the disease that you already have, when you took this policy, you already have some disease. If because of that, your long medical bills come, you get hospitalized, in that case, your policy will fill your bill after 2-3 years. Because you already have this disease, so is it happening that you know that after 2 months, your operation is going to happen, and you are taking this policy just to fill the bill for that operation. So if you have some existing diseases, after how long will the policy cover them,

This is called a waiting period. If there is a new disease, you will get a claim immediately. You will not get a claim in existing diseases. So you have to choose a policy in which the waiting period clause is minimum. In some policies, it is 8-9 months. In some, it is 1 year, 2 years, 3 years. You have to see which one is the least. Now see, may God forbid that you are ever sick. Most people get so sick in a few years that they have to go to the hospital. May God forbid that you never have to go. In a few years, such a situation will come. So in such a situation, you have to find a policy that gives you a good no-claim bonus.

Now that no-claim bonus is such that either you get a premium discount or your coverage increases every year. But if you are not taking a claim from the insurance policy, then the way if we don't take a claim in vehicles, then our insurance becomes cheaper next year. Which policy is giving you more benefit of not taking a claim? This is also an important criteria because many years will pass like this. When you don't have to take a claim. So that year, you should at least get a discount in your policy. So take a policy that has as many no-claim bonuses as possible. Third point. In traditional health insurance policies, only hospitalization was covered. But medical expenses are not just for hospitalization. There can be a one-day treatment in which you don't have to be admitted, you just have to go to the OPT.

There was a day treatment, you have to get your teeth removed, so you are not admitted. Earlier, there were many policies that said that you have to stay in the hospital for at least 24 hours to get a claim. Nowadays, there are many such policies available that give a claim for a day treatment that does not need to be admitted. Apart from this, there are many preventive health expenses. For example, I am getting my full body scanned. That is also a health-related expense. I should get a claim for that too. So, you need such a policy that not only hospitalization but also the expenses around it, the treatment of the day, in their coverage. The next point is related to this. Let's assume that you are admitted to the hospital and you are discharged in 2-3 days.

As soon as you are discharged, your medical expenses will be over. This is not going to happen. We are admitted for 2-3 days because we need more care. But after that, even after going home, sometimes medicines run for weeks and sometimes for months. So who will pay for it? Nowadays, there are a lot of health insurance policies available which not only provide hospitalization But the expenses before hospitalization. Because sometimes we are not directly admitted in the hospital First we go to the doctor They do some tests Some days the medicines run Then if they are not fine then we go to the hospital So these were the pre-hospitalization expenses. Then admitted in the hospital After that they were discharged Then the treatment continued for a few days.

This was the post-hospitalization expenses. So you need a policy Which covers the pre-hospitalization expenses as well as the post-hospitalization expenses for the maximum number of days And I think that at least One month pre and one month post. This is the bare minimum. Fifth point, sometimes we get confused that whether we should take a family floater plan or an individual health policy. So the logic is that if there are four people in my house and I take health insurance for all four in the same plan, in the family floater plan, then it is very unlikely that all four will get sick that year. So in such a case, what happens with a family floater plan is that even if one person gets sick, then your policy cover

It will be used in his illness. And the rest of the people are also sick. This is unlikely. So, with family floater, we can take more coverage. For example, when you are taking individually, then you will take an individual plan of 5-5 lakhs. So, 5 lakhs cover was given to one person. Plus, the cost will increase. But on family floater, you can take a family floater of 10 lakhs. Because you know that not everyone is going to get sick. If one person gets sick, then not 5 lakhs for him. Now, 10 lakhs are available. So, in the case of emergency, in the family floater, More coverage is available. Even if the medical bill increases, it can be covered. One thing to keep in mind is that if someone in the family is already very sick, then he should not be included in the family floater plan.

Because of that, the premium of the whole family will increase a lot. So if 4-5 individuals are healthy and you want to save a little cost or you want to have good coverage whenever someone is sick, then family floater can be a good option. One important point that people miss is the maximum entry and renewal age of the policy. Because when do we have more chances of getting sick? When our age is increasing. In such a situation, if you take a policy that says that you are now 65 and we cannot let you continue this policy. The maximum limit of this policy is the age of 65, then you will be stuck. After that, no other insurance will give you the policy and will give it too.

then you will have to wait for 2-3 years and you will not get a claim in those 2-3 years. So you have to choose a policy which you can continue for lifelong or which will cover you for 75-80 years. Only then we will be able to use that health insurance policy more. After this, I know that many of you will take care of this, but reminding you is my duty. You always have to see that all health insurance policies are not the same. In any policy, any disease is covered, any is excluded. Some other diseases are excluded and some are covered. So you need a policy that has minimum exclusions and most of the diseases are included. In many health insurance policies, skin-related problems are not covered.

But skin-related problems can also happen to people. So policies in which exclusions are minimum. Even if the premium increases by 50-100 rupees, but it is useful when needed. You have to take such policies. The next aspect is capping on individual expenses. Like in many policies, they say that the cover is up to 5 lakhs. If something happens, you will get a bill of up to 5 lakhs. But they put individual capping on it. Like the ambulance will not be more than 1000 rupees. Room rent will not be more than 2000 rupees. So in this case, it is possible that your expense is 5 lakhs. But when you claim, you will only get reimbursement of 1 lakh or 1.5 lakhs. Because insurance policy will say, yes, yes, it is a policy of 5 lakhs.

But we will give 2000 per day on room rent. And your bill is 5000 per day. So you have to give 3000 per day from your pocket. So all this should not happen. You have to take a policy on which individual capping on expenses is minimum. I have taken a cover of 5 lakhs, 5 lakhs bill came, you fill the bill. Don't ask how much room rent came, we will give this much, how much ambulance came, we will give this much. There should be freedom that how you can use the claim amount. After this comes the wide network of cashless claim settlement. This means that your health insurance company The tie-up should be with the hospital where you don't have to pay the bill first, then you have to fill the insurance company's form, then the company will claim you after a month or two.

What should happen is that as soon as the hospital raises your bill, the insurance company will immediately pay it. In this case, even if you don't have money at that time, there will be no problem. Otherwise, you don't have money and the insurance company will tell you to pay it now, claim it, we will pay it after two months. So you will be stuck, right? So this should not happen. Insurance companies should have cashless claim settlements in most hospitals. Now, while doing this, companies often mislead us. Like some companies will say that we have a tie-up of 300 hospitals. Some will say 400, some will say 500. And we will think that the 500 one is better. But it is not like that.

We have to see whose network is good in our city. Some companies have a good network in the south, some in the north. Most of the chances are that when we get sick, we will be in our city. So in your city, which you think are 2-3 good hospitals where I will feel safe in my treatment. Whether the type of that hospital is with your insurance policy or not, this is the most important thing. And the next point, many people do not take health insurance because they say that our company has already given it to us. Now, the health insurance of the company is sometimes very less, it is 2 lakh rupees, it is 3 lakh rupees, which is not available when major treatments are needed, or it is very basic, it does not have add-on features,

OPD coverage is not there, pre-post hospitalization is less, so many times corporate health insurance is not completely useful when needed. It is, it is very good, it will be useful in some situations, it is not that it is useless. But on top of it, if you have a more comprehensive health insurance policy, then it will be more useful when needed. Now I have given you 10 pointers. But where will you check all this? Where will you see and how will you take the policy? In which policy are all these features? How will you know? You will know all this in the policy market and you will be able to compare the insurance policies of multiple companies at one place. Apart from this, you will also get a discount of up to 25% while buying health insurance policies.

In fact, you will not need to get medical treatment in most cases and instantly you can buy your health insurance policy. And you know, if you take the health insurance policy, you will get tax benefits up to Rs 75,000 under Section 80D. Along with that, you will also get 30-minute claim support. Now, suppose you get hospitalized in a place where there is no one to help you. So, the team of Policy Bazaar will help you in taking your paperwork and claim within 30 minutes. And here, you can take the health insurance policy instantly without medical tests. So I hope you found this post helpful.

Disclaimer: Please note that the information we provide is for educational purposes & Reviews only and should not replace professional financial advice.