No matter how much you debate over money being immaterial and less worthy than other kinds of stuff in the world, you cannot deny the fact that it is indeed a basic necessity. Nothing, even the elementary requirements like food, house, or clothes, can be accessed without money. People crush themselves their whole life, just to earn money for their family’s proper survival. And the journey doesn’t end by just earning and spending, and you need to invest in proper savings and funding plans.
This is vital to keep yourself ready for any unforeseen unfortunate event that might occur in the future. When we think about such events, the first thing that comes to our minds is a health emergency. As the old saying goes- “Health is Wealth,” and nothing is above it. If you are not healthy, everything else is a waste. So what to do in such situations? Are you sure that your disease’s expenses can be easily covered under your small pocket savings? What if you are the sole bread earner? What if you lose the sole bread earner of your family? How will the family survive?
The Solution to all the above questions is- A Properly Planned Health Insurance. Tatil insurance is a great option to save yourself to a very far extent in such situations. It helps you cover almost all kinds of diseases, including fatal ones and accidents. It gives you a sigh of relief in unprecedented circumstances. However, the scope of coverage of Health Insurance has some basic policies involving some mandatory limitations and preconditions. It is essential to be well aware of these conditions to avoid the risk of facing disappointment at the time of claim.
Given below is a list of the five most important things that you must not neglect before buying a health insurance policy-
Contents
1. Be very attentive regarding the Age criteria-
Age is referred to as the basic criteria of any health or general accident insurance policy. You must be alert regarding this point before signing and purchasing. Most people tend to overlook the age limit, which ultimately lands them onto rejection of their claim maintenance at the time of emergency. So you must check both lower and upper age limits of the policy and see if the person getting insured is fulfilling that criterion or not. In most of the family floater policies, the cost of the premium relies upon the age of the eldest member of the family, and likewise, there are different rules for different kinds of policies.
2. Check for the Cashless Claim Facility-
This is an era of digitalization, everything including money matters, is now being dealt with in online mode. Hence a cashless claim today is not just a facility but your right as a customer. While considering purchasing a health insurance policy, you must go through the policy documents carefully. Check if the insurance provider’s list of network hospitals includes the name of the hospital that is nearest to your house. See if you can avail of the cashless claim facility at your preferred hospital or not.
This step is important to save yourself or your family from any kind of hassle that might occur during the treatment. Most insurance provider companies have a wide network of good hospitals that lets you get your treatment done without any need for payment. Before purchasing, you must do good homework and research work on the insurance company with which you are going to be associated.
3. Compare various Health Plans before buying one-
If you can compare cars, then why not health plans as, of course, the former is a luxury, but the latter is a necessity. Before buying a health plan, compare it with others available in the market, relate and calculate their benefits and features along with the premium policy. Now, this might sound like a tedious task, but it is not. Most health insurance companies provide digital premium calculators on their official websites to provide ease of extracting information from their customers.
Remember, health insurance is going to be with you and cut your salary amount for quite a several years, and hence it must be a wise selection. Moreover, if you hush and indulge in an insurance plan without proper research work, you are inviting repentance.
4. Cover your entire family-
This may sound a bit obvious, but you will be surprised to know that recent data has revealed that most people tend to not cover their parents under insurance covers due to high premium payments. This is the biggest mistake as if you pay a little more attention, and your parents are actually the ones who need it the most. Especially if they are old, then they are more prone to illness and diseases. You can’t afford to spend all your savings, but the need for treatment can also not be neglected. This is why covering your parents equally is essentially important.
It might be a little inconvenient to see a large chunk of your salary being cut off. But this is going to pay you in the long run. Hence, you must evaluate the health status of each member of your family and get them insured. Your family is your responsibility; therefore, it is your duty to safeguard them from any upcoming danger or damage.
5. The Clause of Waiting Period-
As I mentioned earlier, all the terms must be properly read and understood before the signing process begins. The Waiting Period is important, which may range between 24-48 months. It applies if there is some pre-existing health condition. The clause regarding the waiting period varies from policy to policy, depending upon the kind of plan that you have chosen. You will be able to access the benefits of your plan only after this waiting period is fully over. Examples of such pre-existing conditions are blood pressure, thyroid, or diabetes. The Act of comparison becomes mandatory to select the plan that has the lowest waiting period along with extra benefits.
Conclusion
The above-given points are unfortunately the most neglected yet very vital things that save a person from facing any sort of disappointment in emergencies. Play the role of a responsible buyer, and don’t rush while taking such crucial steps for the welfare of your family.