Why To Invest In Health Insurance Policies?
Medical Insurance is a relatively new concept in India
. The industry is growing massively as various domestic and global players have established a network that extends across the socio-economic groups of the population. With the changing lifestyle and the increasing economic freedom, the population has started investing in health. As a result, myriad health insurance policies have come up, insurance spanning the new-born as well as the elderly, the person as well as the family, the rural as well as the urban.While searching for medical insurance companies, there are various aspects to be considered. Foremost among them is an affordable premium rate, which covers the specific bracket of age, medical conditions, habits, work culture etc. of the individual or the group. The next step is to understand all the features of the health insurance policy. The common features assured in the major insurance policies include cashless facilities, free look period, health check-up upon renewals, hospitalization expenses, round the clock support and tax benefits. Some of the premium policies include exceptional features. Direct claim settlement, which is the case when the company does not employ any third party settlement administrator, is one such feature.
The renewability of policy throughout a lifespan is another such feature. It is a more comprehensive coverage as the average age of the Indian is above seventy years, which is when most companies stop the automatic renewals. Maternity benefits are wide and varied. Some cover the new born automatically up to the next renewal of the tenure in the case when both parents are already covered. The vaccination and nutrition counseling of the children may also be taken care of, as per the rules of the policy.
You can select from a wide range of policies that are designed to meet the needs of an individual, a family or a couple. Some companies actually increase the stakes and provide health services and products. Dedicated relationship managers are also available for some of the better policies, which make the process from hospitalization to settlement much more convenient to the policy-holder. Some companies offer a comprehensive online portal where all the details pertaining to the individuals policy are available for tracking. You can surf through the websites of different companies and compare their policies. The Indian government regulates the industry standards of the medical insurance companies in India and the common man stands to benefit from the wide range of policies in offer.
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