Many people don’t trust insurance companies. You may pay the premium for many years but still can’t be sure if the insurance company will return the favour when you make a claim. This is a prominent reason why many choose not to purchase insurance despite being fully aware of the risks of staying uninsured. Insurance companies haven’t done themselves proud either. There is no … [Read more...] about Your Health Insurance claim won’t be rejected after 8 years
Many of us have more than one health insurance policies. And I receive a number of queries over e-mail and as comments in my blog post about discontent with claim settlements for two policies. Many have a grievance that the insurers did not settle as they expected and they had to pay the balance from their pockets. I had done a post on the pros and cons of having multiple … [Read more...] about How claim is settled if you have two Health Insurance plans?
The need for adequate health cover is not lost on many. However, selecting a health insurance plan that suits your requirements sounds daunting to a lot of people. There are many parameters to be considered before you select a health insurance. Not just that, health insurance plans come in many variants i.e. individual, family floater, top up, super top up and so on. One of the … [Read more...] about How Room Rent Sub-limit can affect your Health Insurance claim?
Karthik (51) lives in Mumbai with his wife (Devani, 43) and two kids (Harsh, 12 and Ritika, 5). He realized the importance of adequate health cover a few years back and purchased a family floater of Rs 10 lacs. He realizes health care costs have been rising very fast in Mumbai. He thinks Rs 10 lacs may not be enough. He wants to enhance cover to Rs 20 lacs. He has heard of … [Read more...] about Use this smart Health Insurance Strategy to get higher cover at a low premium
Many financial advisors ask clients/friends/family to purchase health insurance plans at an early age. The reason is that you are able to lock-in your health conditions. Any illness that happens after your initial purchase of plan does not affect your insurance premium. Therefore, purchasing health coverage at a younger age may help keep your premiums low at an old … [Read more...] about How Health Insurance Companies can easily trick customers?
What your health insurance plan will not pay for? It is not difficult to understand the value a health insurance plan adds to your insurance portfolio and the financial life. However, are you aware that there are treatments/scenarios that your health insurance plan may not cover? You may have to fund the entire or partial cost from your pocket. Such a need may arise due to … [Read more...] about Top 10 Exclusions under your Health Insurance Plan
I am not saying that you should not purchase health cover for your parents. You should. It is your responsibility to ensure quality health care for the family, including your parents. All I am saying is that you should purchase separate plan for them rather than including them in your family floater plan. I am aware that some of the plans are sold with the “added advantage” … [Read more...] about Do not include parents in your Family Floater Health Insurance Plan
Many of us realize the importance of adequate health coverage in our insurance portfolio. Without adequate health cover, a prolonged hospitalization can deplete your resources quickly and affect long term financial health. In this post, let’s look at some of the common myths surrounding health insurance plans. Some of the myths prevent us from purchasing a health plan in the … [Read more...] about Six Health Insurance Myths Debunked
Unlike life insurance plans, health insurance plans come in multiple variants. Two plans can differ in coverage on many aspects. One may have room rent sublimit while other may have a co-payment clause. One has a waiting period for pre-existing illnesses of only 2 years while the other offers no-claim bonus of 50%. And there is a difference in many more coverage … [Read more...] about Health Insurance Plans you should avoid
With the healthcare costs rising sharply, it does not take long to understand the importance of adequate health cover in your insurance portfolio. However, health cover comes at a cost. Even though you may appreciate the benefit of adequate health cover, your budget may not permit you to purchase a health plan. You may argue that you have health cover from your employer but … [Read more...] about 8 tips to reduce Health Insurance Premium