What policies offered by private insurance is helpful?
What policies offered by private insurance is helpful?
The structure and the feature of the health insurance plan have evolved recently and have become more customer-friendly. Now you can renew your health insurance online too. Here are some policies that are being offered by the helpful insurance company.
1. Lifetime renewability
As per the regulations of the IRDAI, the insurer is mandatorily required to offer health insurance for the entry age of up to 65 years. Private insurers don’t have age limits in their health plans. But the state-owned general insurer caps the energy at the age of 65. Policies have to offer lifetime renewability as per the rule. Plus, renewing your health insurance plans online has become more accessible and comfortable too.
2. Pre-existing ailments
The entire health insurance plan will cover pre-existing illnesses, but this will happen after 48 months. Some policies will cover pre-existing diseases even after 36 months or the waiting period, which is lesser than 36 months. This means that in case the person who is suffering from a disease at the time of filing the policy is unaware of the fact and therefore will declare them as medically fit. The insurance will honor the pre-existing illness related to the claim after the predefined waiting period.
3. Sub limit
Sub limit in health insurance plans is an important feature, the total medical cost during the hospitalization includes doctor’s fees, room rent, surgery fees, operation charges, etc. The sub-limit refers to the limiting the reimbursement under each or some of such costs to a predefines the limit
4. Daycare and OPD expenses
The essential requirement for health insurance claims the minimum hospitalization of 24 hours. But because of the developments in technology, some certain surgeries and procedures require less time, so the health insurance has started covering the claims like day-care expenses, dialysis, chemotherapy, eye surgery, lithotripsy, etc.
5. No medical tests up to the age of 45
Before issuing the policies, the insurers will evaluate the applicant's health as per the courses. Most of the insurers will require the buyers who are below 45 years of age to undergo the medical tests, until or unless they have a medical history. But the buyer should make all the required medical disclosure.