The way health care expenses are on the rise, purchasing an effective health insurance policy is the only apt solution to ensure that your savings remain intact in the event of medical exigency. Therefore, if you have not already purchased one, it makes sense to invest in one right away and however, after doing so; you must also take time out to understand the details of your plan.Well, the process of finding and buying the right medical insurance policy can seem a daunting task initially, but one must keep the points mentioned below in mind to ensure that they don’t face any hassle during the annual policy tenure.
Read Your Health Insurance Policy Document:
When you purchase any health insurance plan, all insurers provide you with a policy document that encloses details of your policy terms and conditions. Regardless of the type of plan, you choose to go with, whether it is a general policy or a mediclaim, your policy comes with a free-look period. As you are a policy buyer, you are given some certain number of days to read and go through your policy documents and you can return it if in case you find it unsatisfactory. Thus, it becomes essential for one to read his or her policy document carefully and ensure that everything meets according to your end objective and expectations.
Health Insurance ID card:
Well, you may not think about your health insurance ID card as it probably spends most of its time in your wallet-until your doctor or another hospital management committee ask for it. Health insurance ID card is important since it has been mandated by the Insurance Regulatory and Development Authority of India, I.e. IRDA. It is your passport to care and coverage, so you should know what it really means. In most cases, the insurance provider sends your ID card within 15 days of issuing the policy document. However, if you haven’t received your ID card, within the stipulated period of time, then you have to follow-up with your insurer to provide at the earliest. We would recommend that you keep your ID card with you all the time, as we mentioned above that you need to display it at the hospital registration desk in order to avail cashless hospitalization facility.
Understand the Claim Procedure:
It all starts with being aware of what you are buying. One needs to obtain enough information about how to claim, and what is the procedure to apply for a claim. Regardless of the type of health insurance plan you choose, it is important that you understand the math of the exact claim procedure in order to be prepared for a medical exigency. Make sure that you clarify all your doubts from your insurer, visit the insurer’s website, make a note of the claim procedure, list of documents to be submitted at the time of making a claim, etc. This will ensure and prepare you and your family members about the smooth and hassle-free claim settlement process well in advance.
In order to keep your health insurance policy running, it is necessary that you pay the insurer a certain amount of fee on time, also known as premium on a periodic basis. Thus one makes sure to take a look at your budget and set aside some money from your monthly expenses to cover the premium payments. Failing to do so, can lead to terminate your coverage, which could then cause you to lose any accrued benefits of it.
The benefits and the importance of a health insurance policy cannot be overstated. Just make sure that you have an active health insurance plans, better coverage for yourself and your loved ones, at all times. Hope this information has been helpful to you in order to safeguard your life!