The new insurance company has to respond to your portability request within 15 days.The portability of health insurance plan is not guaranteed, and the new insurance company may reject the request if the risk is not acceptable.The application for portability has to be made 45 days before the existing policy expires.The pre and post hospitalisation expenses include the cost of consultation and diagnostic tests. Ideally, one should choose medical insurance that covers pre and post hospitalisation charges. Pre/post hospitalisation: There are several costs related to hospitalisation.Take into account the existing ailments and the age of your family members while choosing a health insurance plan. Family health insurance: The health of your family members is as important as yours while taking a health insurance plan.Essentially, you should try to strike a balance between the insurance amount and the premiums. You should also keep in mind your income while choosing the premiums. While choosing the insurance amount, take into consideration your age and history of diseases. The insurance amount:The amount of cover is one of the most critical components of a health insurance plan as an inadequate amount will not be of much help.A helpful customer support system would be an additional advantage. You should choose a health insurance plan with a simple and fast claim process. Claim Process:The claim process is an important factor for all insurance products as no one wants to run from pillar to post when the need arises.Things to Consider Before You Pick a Health Insurance Plan With the option, the sum assured increases at a pre-defined rate nullifying the impact of healthcare inflation. Canara HSBC Oriental Bank of Commerce Life Insurance Health First Plan comes with an increasing cover option, which helps the insured take care of the rising cost of medical care. Increasing cover: The cost of healthcare is on the rise, but a good health insurance policy takes care of inflation.With the premium waiver, the insured’s family does not have to worry about losing the health insurance cover. Health insurance cover continues even after a minor claim is made, but the insured is not required to pay the premiums. Premium waiver: The diagnosis of a critical illness is a difficult situation for all family members.Just a report from the doctor specifying the condition is enough to receive the payout. The claim process of fixed-benefit health insurance is simple and hassle-free. Hassle-free claim process: You do not have to produce hundreds of bills and documents to claim the sum assured.It can help you take care of the different costs related to a critical illness. The payout of fixed benefit health insurance does not depend on the actual cost of treatment. The overall expenses could be substantial ranging from treatment cost to the loss of livelihood in some cases. Critical illnesses like heart and kidney diseases can take a heavy financial and mental toll on the family. Flexibility: With a fixed benefit health insurance plan you get the flexibility to choose the utilisation of the sum assured.Health insurance covers pre and post-hospitalisation charges along with the cost of hospitalisation. The cost of related activities is also rising with the cost of hospitalisation. Out-patient expenses, diagnostic tests and other related activities account for a substantial part of the overall expenses.
Coverage of related costs: When you opt for a treatment, hospitalisation is just a part of the overall costs.Therefore, the chances of exhausting your entire savings in case of a medical emergency cannot be ruled out. The cost of healthcare is rising faster than other services and products and Indians primarily dip into their savings to take care of medical emergencies. Rising medical costs: Various reports and surveys have highlighted two key findings, which could be a reason to worry for people without health insurance.A sedentary lifestyle, bad eating habits and dangerous levels of pollution have made the current generation more prone to health risks. Daily lifestyle has undergone a drastic change in the last few decades, giving rise to a plethora of new diseases. Changing lifestyle: There is no denying the fact that our ancestors had a healthier lifestyle.
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