1. What do you mean by a pre-existing
disease?
In short, a pre-existing disease in health insurance refers to any health condition that you have before you apply for health insurance. While taking a health insurance, it is normal that you need to give a complete medical report. In the report, it is necessary to disclose any pre-existing diseases, if you know about it.
You must also disclose if you have a pre-existing disease in health insurance.
2. What do you mean by waiting
period?
In India health insurance is a very important component of a financial plan. You can protect yourself from medical emergencies and have peace of mind. A waiting period means the time period you have to wait before the insurance company starts paying for the hospital bills. In insurance sector waiting period is known as pre-existing disease exclusion period. In some cases the waiting period is as long as 12 months.
Choose a policy with a reasonable waiting period before you start using it.
3. What does annual sum insured
mean?
Annual sum insured is the money value in which you agree to pay in case of a claim. It is one of the most important terms in a health insurance policy. This is the maximum limit for which the insurance company will pay in case you make a claim in a year. Most people in India don't know the importance of annual
sum insured, which is why they don't get the best health insurance plan.
4. If I increase my sum insured at the time of renewal, does a waiting
period apply?
There is no waiting period; you can increase the sum insured anytime during the policy term. However, it may result in higher premium. You should also ensure that you increase your sum insured to your needs,
rather than just increasing the sum insured by the agent.
5. My current employer provides me with a health insurance.
Do I still
need one?
Yes, you do. Even if your employer provides you with full benefits, you still need to buy a health insurance, because the coverage provided by your employer is not full. If you go through a surgery, you might end up paying several thousand for it. What if you get ill and need to go for a long term treatment? A good health insurance policy covers the pre-existing conditions and offers comprehensive
coverage. So, yes, you definitely need to buy a separate health insurance policy.
6. From what age can I put my children in the
health plan?
You can add them anytime before they turn 20. You can add children anytime in the open enrollment period
if you have the insurance through your employer.
7. How can I start my claim after
hospitalisation?
You can intimate your insurance company as soon as possible. Few days delay could mean higher premium. Always keep a copy of your bill whether you inform hospital staff to note it down or it is available online. If you have any scans, x-rays or blood test reports, keep those as well. You should keep those documents for a few months and make sure to destroy them before you move on to another insurance company. You should also make a note of the case number and the name of your insurance representative and give it to your doctor and hospital staff. The best time to intimate your insurance
company is the day you get out of the hospital.