Life is very uncertain and you never know when a person falls ill. So, it is very important to avail a health insurance plan to meet medical expenses. With medical expenses rising each day, not having a health insurance plan can burn a hole in your pocket. If you simply avail a health insurance plan, it’s just not enough. There are some points you need to keep in mind, before and after availing a health insurance plan.
To make sure your health insurance plan is appropriate and uninterrupted; you must make proper disclosure to your health insurer. Don't even dream of hiding important facts from your insurance company. You will be in serious trouble during the claim settlement. In this blog, we will discuss the stages where you need to make proper disclosures to your health insurance company.
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You must be very honest when filling the proposal form provided by the insurance company. On the basis of information provided in the proposal form, the insurance company will assess the risk and fix the premiums to cover that risk. So, make sure to disclose everything while availing a health insurance plan. You must provide information on both your past and present health conditions.
If you have any diseases at the time of availing the plan, they will be considered as pre-existing diseases and there will be a waiting period for them. The waiting period ranges from 2 to 4 years. Hiding pre-existing diseases, is considered as a misrepresentation and this can lead to the rejection of claims made.
Health insurance claims can be made in two ways: they are the cashless claims and reimbursable claims. You don't have much of a role in the cashless claim, as the network hospital shares all the medical reports and bills with the insurance company. But, it is completely different in the case of reimbursement. Here you must fill the claim form and provide all the information on medical treatment availed.
Along with the claim form, you must provide other necessary documents like medical bills, diagnosis report, health check-up reports, and treatment details and so on. Before making a claim, you must know what is covered under the health insurance policy.
While renewing the health insurance policy, it is advisable to increase the sum assured keeping medical inflation in mind and your medical needs. Your claim history will be reviewed by the insurance company, if you are planning to increase the sum assured. It’s advisable to be very honest with the health insurance company while providing the medical details at the time of renewal. This makes sure you do not have any hassles at the time of making a claim.
You will have to provide the medical history of the past year. This information will be used by the insurer to decide on a hike in sum assured.
Health insurance plan comes to your rescue in an emergency, only if you provide all the details of your medical history. So, it is very important to read all the terms and conditions carefully and disclose all requisite information. In case you hide anything from your insurer, your claim will be rejected by the health insurance company. You will have to bear all the expenses if the claim is rejected.
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