Everyone should have a health insurance plan. But many times the employed people do not buy health insurance thinking that they are getting the benefit of group insurance scheme from their company.
But the benefit of this group insurance suddenly ends after retirement. In such a situation, it is very important to take a personal health insurance plan before retirement. If you too have not yet taken your health coverage by relying on the company’s group health insurance and your retirement is approaching, then you should buy health insurance as soon as possible. But before buying a policy, definitely understand these 5 important things.
give correct and complete information
Give complete and accurate information about yourself while taking a health insurance plan. If you are already suffering from any disease, then tell about it. If you smoke alcohol or cigarettes, then definitely tell about that too. Failure to do so at times may result in the insurance company denying the benefit of health coverage at the time of need, citing violation of the rules.
Also pay attention to the waiting period
By the age of 60, the risk of many diseases usually increases. New health insurance policies sometimes do not cover these pre-existing diseases or even if they do, after the waiting period is over. In health plans of different insurance companies, this waiting period varies from one year to four years. The waiting period also depends on the pre-existing disease. In such a situation, you should take a health insurance plan of that company, in which the waiting period is minimum.
Also check coverage of AYUSH treatment
If you prefer to try the options that come under AYUSH like Ayurvedic, Homeopathic, Unani, Siddha, Naturopathy and Yoga for the treatment of diseases, then you have to keep this in mind while taking health insurance. Some insurance companies now also include the methods covered under AYUSH in their insurance plans. But sometimes the insurance company keeps a sub-limit for such treatment. In such a situation, you should buy a health insurance plan of that company which has the highest limit of AYUSH treatment.
Choose the right rider
Riders provide additional benefits. These are linked with the general insurance plan purchased by you, which can be purchased by paying extra premium along with the insurance plan. A Critical Illness Rider can help you if you are diagnosed with a serious illness during treatment. Generally, some conditions are attached in the health insurance policy regarding the room rent (ward or ICU). If you want room rent waiver while buying a health insurance policy, then you have to pay a separate amount for this. Similarly, waiting period for pre-existing diseases can be reduced through waiting period rider.
Take advantage of top-up and super top-up
These plans are like a booster dose to the normal health insurance plan that you have purchased. Top-up or super top-up plans become active and help you with your treatment once the amount in your original insurance plan is exhausted during the course of treatment. Super top-ups reduce your burden in case of medical emergency. If someone has already bought a low-value insurance plan, then he can later increase his coverage by taking a top-up or super top-up plan.
While buying an insurance policy, one should thoroughly understand all the terms and conditions by reading the policy document carefully. In case of any confusion, detailed information should be obtained from the representative or officer of the insurance company. Exceptions, limits, co-payments, deductions and other aspects of the policy should also be fully understood. If you are not satisfied even after buying a health insurance plan, then there is an option to return it within 15 days. Before buying an insurance policy, compare it with the offers and benefits of other companies. If you buy a policy after taking care of all these things, then you will not have to be disappointed at the time of need.
