In this era of the pandemic, health insurance has joined everyone's primary needs. Health insurance is required, especially for senior citizens. The rapidly growing health spending can be a way of an economic crisis. Health insurance is essential to avoid this accidental calamity. Many companies in the market are offering a variety of health insurance, but while taking health insurance, the customer must take care of certain things. Let's know what those things are.
Existing illness to be covered:
The customer should know whether the existing disease is being covered in the policy before taking health insurance. Some companies cover the existing disease of the insured in their policies and do nothing. It is always good to choose an insurance scheme that covers the customer's existing illness and has a short waiting period.
Co-payment is the amount that the policyholder himself has to pay for insured services. This amount is already fixed. Most of the insurance policies available in the market for senior citizens come with the condition of payment. The customer should choose the insurance policy in which he has to give at least the same. In addition, customers can also opt to remove the condition of the pavement. For this, the customer has to pay an additional premium.
Claim amount should be higher:
The insurance policy should have a higher claim amount for serious illness. The policies of many insurance companies available in the market have a relatively low claim amount on some serious diseases. The customer should be aware of it before taking the insurance policy. For this, the customer should carefully read all the documents, including the cover list of serious illnesses.
Limit of payment:
It is always better for the customer to choose insurance policies that cover the entire cost after hospitalization. The policyholder has to pay the room or ICU after a limit in the policies of many insurance companies available in the market. Therefore, the customer should know about it before taking the policy.
Discounts on depositing premiums simultaneously:
Many insurance policies available in the market are exempted from depositing a lump-sum premium on the maximum policy term. The policy term can be a maximum of three years. Customers can avail of this discount by depositing the premium together.
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