Frequently Asked Questions When Buying Health Insurance

Buying a health insurance policy is one of the important things to do and it is totally worth your precious time as it provides comprehensive and cost-effective protection to you and your loved ones at the time of a medical emergency. Health insurance plans must be bought after carefully analyzing your requirements like medical history, pre-existing diseases, financial budget, etc. to get a suitable health insurance plan. There are a plethora of options that are available in the insurance market and to choose one of those options can be hectic and tedious. To narrow down your options you can consider certain factors and then go with the one that is both extensive and affordable.

At the time of investing in a health insurance plan, there are a lot of questions that hit the mind of the policyholders. Some of these questions have been considered and briefly answered in these articles. While, other such doubts regarding your health insurance plan can be solved by your health insurance provider at the time of buying a suitable health insurance policy. You can also read the fine print of your policy documents to get a better understanding of your health insurance plan.

Frequently Asked Questions When Buying Health Insurance

Following are some of the frequently asked questions by the policyholders while buying a health insurance policy:

1. Why Should I buy a health insurance policy?

A health insurance plan is important as it offers financial aid to its policyholders at an affordable price in times of a medical emergency. It also ensures that the policyholders receive quality treatment without worrying about the monetary constraints. Apart from all these, it offers tax saving benefits to the policyholders who are also tax payers along with their other accumulated perks.

Must Read: Importance of Individual Health Insurance Plans

2. What are the types of health insurance plans that are available in the market?

Health insurance providers offer various different types of health insurance policies that are meant to protect the policyholders against the high cost of medical treatments. Some of the common types of health insurance plans that are available in the market and are widely bought includes individual health insurance policy, family floater plans, critical illness plans, maternity benefit covers, top-up covers, personal accident covers, and much more. You can explore more options in the insurance market over the internet.

3. Will I get coverage for pre-existing diseases?

Pre-existing medical conditions are covered under a health insurance plan only after a certain period of time which is the waiting period of the plan. During this period, the policyholder cannot avail the benefits of the plan for the treatment of the pre-existing disease. When investing in a health insurance plan, you must check the waiting period of your policy so that you can make the claim without any confusion.

4. What are the prominent factors that affect the premium of a health insurance plan?

The premium of your health insurance policy depends on certain factors like sum assured of the chosen plan, age of policyholder, deductibles, medical history, plan chosen, pre-existing diseases, etc. You can get a clear idea of the premium of your desired plan with the help of an online premium calculator.

5. What to do if I get admitted to a non network hospital?

If you receive treatment at the non network hospital of your health insurance provider, then you can go for a reimbursement claim, under which initially you must clear the medical dues yourself and then the claim amount will be reimbursed to your bank account. This claim settlement process is ideal for people who can afford the medical bills at the time of an emergency.

Conclusion

Policyholders can get a clear picture of their desired health insurance plan by consulting their health insurance provider at the time of buying a health insurance plan. You can also go through the policy terms and conditions to understand your plan better and avoid any inconvenience at the time of the claim settlement process.

You May Also Like to Read: Tips For A Smooth Health Insurance Claim Settlement Process

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.