What should you be aware of after buying the health insurance policy?

The health insurance segment witnesses the highest number of claims and hence the rejection rate is also very high. To ensure smooth settlement-

Make sure you have all the documents in place and the renewals are done in time.

Make sure you have carefully read about the exclusion of diseases such as pre-existing illness etc. Be aware of the sub-limits in the policy for specific expense heads.

Be aware of the network of hospitals the insurer has tied up with. That will provide you the benefit of cashless claim.

Most companies have a tie-up with a Third Party Administrator for claim settlement. Make sure you keep handy the numbers you need to call for intimation and also the time within which the intimation should be done. It is important that all the original documents like the doctors’ diagnosis, X-ray, discharge card etc. are maintained. Also, your family should be clear of the process to be followed in case of a medical emergency. The policy document would have clearly outlined the same.

Health insurance is the most neglected product in India because of the fact that people tend to think that it’s more of an expense. Remember that health insurance covers you for any medical emergency that could potentially burden your family financially. Opting for this product will ensure that families will not have to compromise on quality of treatment to contain medical expenses. It’s a win-win situation for both you and your family- you will get the best treatment and your family will not have sleepless nights trying to arrange for funds.