Due to ignoring some important things on their part while buying health insurance, they do not get the full amount of claim settlement.
Health insurance Update: Nowadays, no one knows which disease will turn into a major disease. Whereas, if you stay in the hospital for one or two days, the bill becomes of lakhs. To get rid of all these problems, most of the people buy health insurance.
But due to ignoring some important things while buying health insurance, they do not get the full amount of claim settlement. Today we are going to tell you about 5 important questions related to health insurance, which you must know before subscribing to health insurance.
Are there sub-limits in the plan?
The absence of a sub-limit in any health insurance is one of the reasons for not settling the entire claim. Sub-limit means that the insured person will not pay more than a certain amount under a certain item, whether it is a percentage of the insured amount or a fixed amount.
For your understanding, if the insurance company has fixed the insured percentage at 1 percent on the room rent of an insured person and its insurance cover is Rs 5 lakh, then in such a case the insurer will not pay more than Rs 5,000 in lieu of the room rent.
Does insurance cover pre-existing illnesses?
If you are suffering from any illness at the time of buying the insurance policy, you will usually have to wait for 1-3 years before the illness gets covered. Apart from this, you will also have to increase the insurance premium based on the terms and conditions of the insurance company.
Which disease should you give information about?
Before buying any health insurance, you should give information about all types of diseases. For example, if you are taking medicine for any disease or are admitted in the hospital. Apart from this, you should also give information about the diseases that you have cured.
At the same time, some insurance companies also ask for information about the diseases of your family members. If you do not disclose this information while buying insurance, then the insurance companies can cancel your claim under non-disclosure.
What is the claim process and settlement ratio?
While buying a policy from any health insurance company, you must get information about the settlement ratio and claim process of that policy. So that you can easily complete the claim process before getting hospitalized for any disease.
For this, you should know about all the necessary processes including approval, necessary documents, verification, TPA details. Apart from this, you should ask the insurance company about its claim settlement ratio. If we talk about a good claim settlement ratio, it should be more than 95 percent.
What is a policy exclusion?
Before buying any health insurance policy, you must know about the policy exclusions. Many times the claim is rejected under this also. Insurance companies do not cover the diseases that come under policy exclusions. In such a situation, you should know what kind of diseases, special surgeries, non-medical expenses are included in billing under the policy or not.
