How does the Health Insurance Work?

According to a survey, the number of individuals availing health insurance policies in India increased to around 400 million in 2018. A primary reason behind this massive growth is the easy application and claim procedures coupled with numerous benefits that are offered by several insurance providers.

Here is all you need to know about how do such insurance policies work in India –

Application procedure

Most financial institutions follow a straightforward application procedure for health insurance policies. You can visit the official website of an NBFC to fill up an online application form, or you can visit their branch for the submission. Once you have submitted an application form, representative from the respective insurance provider will contact you with further procedure.

Process to claim the insurance coverage

You can claim insurance coverage in two ways, either by opting for cashless hospitalisation or by opting for a reimbursement method. In case of planned hospitalisation, you can opt for cashless treatment by seeking admission in any network hospital of your insurance provider. You must inform the concerned insurance provider at least two days before hospitalisation.

You are required to fill up a form during admission along with the insurance card and KYC documents to the TPA counter of the healthcare facility you are getting admitted at. At the time of billing, the insurance provider will settle all bills with the concerned hospital.

Cashless insurance claims can considerably benefit an insured individual. It reduces the financial burden of acquiring funds on such a short notice.

On the other hand, in case of a reimbursement process, make sure that you collect all the bills related to tests, medicines and hospitalisation. Every document is required to be submitted to the insurance company to claim coverage against such expenses.

Health insurance policies offer a wide range of benefits like a high sum insured, extensive coverage, etc. that makes it a popular option among many. Also, the tax benefits that can be availed on the premium paid towards such policies further ensures greater savings for a policyholder.

Read Also: Different health insurance policies available in India

Comments

Quick Guide For Zero Depreciation In Car Insurance

Some parts of your car face wear-and-tear faster than the others and these parts are often referred to as depreciated parts. Once you file for an insurance claim, the insurance company deducts a value equal to the depreciated value of all such parts and does not settle your claim in full. The parts that are made up of rubber, plastic, fiber, etc. fall in this category. If you want to avoid this deduction from the final claim amount, you can avail of a zero depreciation car insurance cover. It is also known as nil depreciation cover as it nullifies the deduction from the claim amount due to the deprecated components of your vehicle. The benefits of a zero depreciation car insurance policy are stated below: Comes at a reasonable price If you have already purchased a comprehensive car insurance policy, you can avail of a zero depreciation car insurance cover at a nominal price. It is because it is an add-on insurance policy that only enhances your claim amount to reduce the part of the

Necessary Information On Hospital Cash Insurance Plan

Medical treatments these days are a matter of the huge amount of money. And if you need quality treatment facility from the super-specialty hospitals and clinics you need a medical insurance plan for you and your family. If you are planning for the medical insurance plan with hospital cash cover , then be sure to consult with the best insurance plan provider. Let us discuss in details. Financial companies such as reputed NBFC Bajaj Finserv and other insurance companies have their own health insurance policies that range from smaller amounts of bigger amounts. All these medical policies fall under the pocket insurance policy scheme. It gives clients the facility to get benefits with minimum investments. The procedure is quick and does not require lengthy documentation. You can get a higher amount of money with such hospital cash insurance to continue medical treatments even for critical patients. Just make sure you read the policy details clearly before you in

Stay Protected on the Road- Understanding the Importance of acko car insurance

Having a car insurance policy is essential for every car owner. It not only provides financial protection in case of any damage or loss but also ensures a safer driving experience. Acko is one of the leading car insurance providers in India, offering a wide range of insurance plans to suit the needs of all car owners. In this article, we will be discussing the importance of Acko car insurance in India and how it helps to stay protected on the road. We will also look at the various benefits and features of Acko car insurance policies that make them an ideal choice for car owners. Understanding the Importance of Acko new car insurance in India As the number of vehicles on Indian roads increases, so does the number of accidents and other related incidents. Traffic jams, road rage, and bad driving habits are some of the major causes of accidents. It is important for drivers to stay safe on the road, and to do so, they must have a car insurance policy. Acko new car insurance is one of

All Insurance News and Plans

Search This Blog