HOW TO CHOOSE A HEALTH INSURRANCE POLICY
By iDiva Trendspotter
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Medical emergencies can strike anytime therefore insurance coverage is a must for everyone. When medical bills hit the roof, the best thing to have is a health insurance policy that offers you peace of mind. If you are looking to buy a health insurance policy, here are all the answers to your questions.
What is the minimum premium to be paid as per the plan?
You will need to pay premium according to your insurance plan and variant. But, you will need to find out the amount the insurance company will cover in case of medical treatment. If your treatment exceeds this amount, you will have to pay the difference.
What are the exemptions?
Some health insurance companies will not pay for regular checkups. Find out if the insurance company is ready to cover all costs. Do read up the policy documents and go through their FAQs for a better understanding.
What happens if I don’t make any claims in the particular policy year?
If you have an insurance agent, ask him/her about what happens if you have a claim-free year. Also read the documents or any kind of information that you may find important. Some insurers offer increase in the benefits amount / decrease in the regular premium in case of a claim free year.
In a scenario like this, all benefits under AEGON Religare iHealth plan will increase by 10% of the initial level for the subsequent and later years. This is called as No Claim Bonus. Maximum to 50% increase of initial benefit.
Does it cover international travel?
If your job sends you out of the country every month, it is necessary to take travel insurance into consideration. Most insurance policies do not cover international travel. Those that do are available at a higher premium. If you travel a lot, you should opt for one that will cover international health problems.
What is the payment going to be like?
You need to find out whether you will have to pay the hospital first and be reimbursed later or whether the company offers a cashless hospitalisation. If the company says it will reimburse you, it shouldn’t be a problem unless you can’t get all the money in place on time.
AEGON Religare iHealth plan has a fixed benefit structure. Which means that irrespective of the hospital bills, you will be entitled to receive a fixed amount on happening of any insured event.