HEALTH INSURANCE
Health Insurance Terms and Conditions: Importance, Types and Cover. Health insurance policies provide financial coverage against expenses arising due to medical emergencies. These help to account for hospital-related expenses, daycare procedures, room rents, doctor’s fees, nursing and boarding charges, ICU charges, etc …
ELIGIBILITY CRITERIA
- The minimum age to get health insurance for your child is 15 days, going all the way up to 18 years. For adults, the entry age is 18 years, and the maximum limit is 65 years.
- Pre-existing Disease: Claims will not be admissible for any Medical Expenses kind. termination), miscarriage (unless due to an Accident), childbirth, maternity of the first Policy with the Company. (including caesarean section), abortion or complications of any of these.
- Before purchasing a health insurance plan, you must report any diseases you have been treated for or are currently under treatment. For pre-existing illnesses, there is a waiting time before your insurance would accept a claim. A premedical condition might have a one- to four-year waiting time.
- A waiting period in health insurance refers to the time during which the policyholder cannot file claims for certain issues. You must wait for a stipulated time before you can enjoy certain health insurance benefits. The waiting period starts from the day the policy commences.
- Cosmetic surgeries: Cosmetic surgeries like face lifts, tummy tucks, and other non-medical procedures are not covered under health insurance policies.
- Most of the reputed companies undergo a medical examination. This depends on the age of the policy holder. If you buy at early age then the premiums are less. As you grow old, these companies keep the policy holder updated on the new norms.
- There are other criteria’s such as age proof/address proof/Income Proof/ ITR Filing. Policy holder should have proof of the documents required.
Never miss out on the policy wordings after the policy is issued. There is a free look period in which policy holder can reject the terms and conditions not suitable to them.
Policy holder should check the riders that comes with the policy. Policy holder should choose wisely these riders as per individual requirements.
One must go through the exclusions mentioned in the policy wordings. Policy holder/Nominees must be aware of the procedure to be followed in case of any mishap.