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With sky rocketing prices of
medical expenses, medical insurance plays an important role in
today’s world. It is the buffer against medical emergencies.
Medical insurance in India is gaining such a high trend that
policies are out even for infants. And are they selling? With
the hype that is created all medical insurance policies have a
hungry market. People are made conscious of that sudden accident
that can lead to a dent in their bank account.
Mostly an employer insures his employees by taking a group
medical insurance policy. Here the premium is low and sometimes
the employer bears half or the total cost. In the case that the
employer does not remove a medical insurance then the person
must do it for himself, individually or for the entire family.
Taking a medical insurance at a young age is preferable as the
premium is lower and the bonus is high.
In India mostly everybody goes in for Mediclaim, as it was the
government’s monopoly before liberalisation. Mediclaim basically
works on indemnity. Whereby the insurer pays the amount of the
stipulated health care cover incurred due to an illness. Most of
the indemnity cases allow the patient to choose his doctor or
hospital.
Medical insurance companies in India provide easy and simple
procedures. But when its reimbursement time, it can be quite
demanding. Hence whilst filling the form, read carefully, read
the fine print, give in all the required documents, do not make
any false claims or usher untrue information, as it will
backfire when the settlement procedure begins. After you take
the policy keep a photocopy of each of the papers submitted and
received handy.
With increasing medical costs, the premiums too are shooting up.
Hence it is preferable that you take a policy as early as
possible. However at the outset you need to understand your
reason for purchasing a medical policy. Some medical insurance
companies clearly define that their policy will exclude
maternity costs, treatment from aids, cancer etc. Hence ask
detailed questions and be thoroughly sure before you put your
money at stake. Some even disallow pre-existing conditions. For
instance if you have been suffering from a perennial illness
then that will not be covered. But with the current influx of
international medical insurers one can be totally confused when
asked to make a choice.
What if your claim is rejected? This is one haunting question on
purchasing a medical insurance policy. Well, if the medical
insurance company do not consider the claim valid then ask them
to put it in writing so that you can petition a plea and fight
for your rights. Hence it is very important that you understand
what is valid and not valid at the very beginning of the
contract. Before you sign on that dotted line.~
A guide to Medical insurance is Authored
by M. Hemdev. |
data is Copyright © 2004 .Indianchild.com
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