Health Insurance FAQs: Answers to Your Most Commonly Asked Questions

Today, health insurance is important for everyone as it curtails the scope of financial crunch drastically during a medical crisis. It also promises to safeguard both you and your family by providing the right add-ons and so much more. It also comes with free medical check-ups and hospitalization expenses that can render you a quality experience without having to spend any money from your own pocket.

The more health insurance plans are getting famous by the day, the more the queries people seem to pose regarding them. As such, we hold it a priority to resolve these questions at the earliest and help you receive the assistance you deserve. Are you ready?

1. Can My Mediclaim Policy Cover My Pre-Existing Health Ailments?

Yes. However, you need to wait for a certain period of time before you receive cover for it. This is referred to as the waiting period. However, this period can range from up to a few hours to even four years and more. That is why it is best to consult your health insurance provider for more information on this. They will be able to help you better as per your tailored situation.

2. How Do Insurance Providers Settle Claim Insurance Policy?

There are two ways to settle claim insurance. It is either done in the form of a reimbursement or a cashless form. When it is done in the latter case, your insurance provider will settle the claim insurance with you directly. This means they will be in charge of directly settling the medical bills in your hospital. However, when you go through the reimbursement form of claim settlement, you need to settle the medical bills with the hospital all by yourself. That is why you should opt for your health insurance plans wisely.

3. Why Should I Get a Health Insurance Policy?

A health insurance policy is a necessary investment for all those who are looking to curb their chances of spending lump sum money amidst inflation and rising medical costs. Whether you want to settle the cost of your equipment, hospital, medication, and even check-ups, the right mediclaim policy can take care of them all for you.

By paying a small amount of premium, you can receive significant support from these providers. This way, a medical insurance policy acts as a safety net for both your health and your finances in need. As such, it can also indirectly affect the health and finances of your family.

4. What Is the Best Time to Buy a Health Insurance Policy?

The best time is NOW. Remember, the earlier you purchase a health insurance policy, the better it is for you. That is why many experts recommend that the ideal age to purchase medical insurance is during the mid-twenties and thirties.

Since this is the time when financial responsibilities are quite less compared to how inflated they get after this age bracket, it is best to buy the policy during this time. So, if you are anywhere between this age bracket, now is the time to do a good deed for your health and finances.

5. How Should I Choose the Best Health Insurance Policy for Myself?

Choosing the best health insurance can be a daunting task when doing it for the first time. But it is best to start by looking for the right cover that suits your budget and caters to your medical requirements. You must also consider the premiums you have to pay. For this purpose, it is best to opt for one that is most affordable to pay.

Another thing to regard when opting for a health plan is whether you want to cover yourself alone or your family as well. Remember that if you have a family to fend for, it would be wise to opt for a family floater policy as it is quite affordable. Also, do not forget to pay attention to the plans that come with lifetime renewability and good network hospital coverage. You can also check out Future Generali for this purpose and more information on the same. They offer some incredible health plans that may be best suited for you.

6. Can I Purchase My Health Plan and Use It Right Away?

  1. There is a certain waiting period that you must cover before you can leverage your health insurance. The case is the same when you are looking for instant hospitalization, even in the case of an unforeseen event.

For more details, do not hesitate to connect with your health insurance policy provider. They will be able to provide more accurate details on the same.

7. Is There Any Difference Between a Life and Health Insurance Plan?

Life insurance plans provide compensation to your family in case of your untimely demise. On the other hand, a health insurance plan tends to your medical requirements and expenses during your ongoing lifespan. Thus, they are fairly different from one another.

8. Is It Better to Buy Health Insurance Online?

Yes. Buying a health plan online can be a better option compared to offline, as doing this online allows you to compare the rates and learn about it at your convenience. When you purchase it offline, you may not get this privilege as your insurance provider may try to lure you into buying their insurance plan, which can be a biased experience altogether. That is why experts recommend purchasing the plan online, when possible, for you.

Winding Up!

A health insurance policy might be a heavy investment but with affordable premiums; you won’t even know when these investments start to pay you back. Start today to enjoy a better tomorrow.