How Can I Avail Benefits Under My Health Insurance Plan?

A health insurance plan provides you with complete protection against any medical expenses that can occur due to an emergency or any mishap. If you have a health insurance policy for yourself and your family, then you can peacefully lead a happy life without worrying about future finances. It includes various covers like pre and post-hospitalization expenses, in-patient expenditures, domiciliary treatments, ambulance charges, etc. It also provides you with various add-on covers to enhance your existing policy by adding more benefits at an affordable cost.

A health insurance policy comes with a bucket full of benefits that you can avail throughout your policy tenure. You can get maximum benefits when you make a claim for the policy at times of an emergency. Some of these benefits include cashless treatment, no claim bonus, tax deduction, daycare procedure expenses, and much more. Some benefits are available at the start of the policy while other benefits can be availed when filing a claim. 

Standard Benefits of A Health Insurance Policy 

The benefits provided under a health insurance policy differ from one insurer to the other. But, there are certain benefits that are common among all the health insurance plans irrespective of the insurance company. Let us look at some of these common benefits which you can get after purchasing a health insurance policy: 

• Cashless Treatments

You can avail cashless treatments at the network hospitals linked with the insurer. Under this benefit, your medical dues will be cleared by the insurer through direct contact with the hospital without involving the policyholder thus, making the process quick and hassle-free.

• COVID-19 Cover 

During this pandemic, almost all the insurers are including the COVID-19 treatment cover with the basic health insurance policies. It makes sure that you get quality treatment at the private hospitals without worrying about the finances. 

• No Claim Bonus 

No Claim Bonus or NCB is provided as a reward to the policyholders for every claim-free year in the policy tenure. You get an increment in the sum assured under your purchased policy.

• Pre-Existing Diseases Covered

People with pre-existing diseases are also covered under the policies. You just have to make sure that your condition is mentioned in the list of pre-existing diseases. There is a waiting period of 2 to 4 years on the pre-existing disorder benefits. You can avail this benefit only after the waiting period and therefore, you must purchase the policy early. 

• Tax Benefits

Under section 80D of the Income Tax Act, you are eligible for a tax deduction on your premium payments if you purchase a health insurance policy. This benefit helps you to save your finances. 

To get extra benefits on your existing policy, you can purchase top-up plans like maternity coverage, critical illness covers, diabetes covers, cancer plans, and much more. These add-on covers serve a specific purpose and have a low-cost premium rate with a suitable sum assured. 

How To Avail The Benefits Provided By A Health Insurance Policy?

To avail the benefits mentioned under a desired health insurance policy, you just have to purchase the policy cover. With the purchase of the health insurance cover, you become eligible to avail its benefits. Some benefits like a tax deduction are made available at the start of the policy tenure when you make a premium payment. 

While benefits like preventive health checkups, medical check-up facilities, daily hospital cash benefits, and no claim bonus can be availed during the policy tenure by following the mentioned terms and conditions. However, other benefits like the higher sum assured, cashless treatment facility, pre and post-hospitalization expenses, ambulance fee, COVID-19 cover, and much more can be availed after making the claim of the policy. Pre-existing diseases benefits can only be availed after the waiting period mentioned in the policy documents. 

Conclusion 

As seen above, the benefits of your health insurance policy can be availed during different stages in a policy tenure, and therefore, you must go through the terms and conditions of the policy to understand the procedures and rules of the insurer while availing the benefits to the policyholders. This will minimize any confusion and will make the whole experience smooth for you.  

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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.