Frequently Asked Health Insurance Questions, Answered!
Updated On Nov 16, 2023
Table of Contents
- Frequently Asked Questions About Health Insurance
- Why Should You Buy Health Insurance?
- Can You Cover Your Family Under Your Health Insurance?
- What Is The Eligible Age To Buy Health Insurance?
- Can You Buy More Than One Health Insurance Plan?
- Will Your Health Insurance Cover You Across India?
- Who To Call During An Emergency Hospitalisation?
- How To Make A Claim When You Fail To Find A Network Hospital During An Emergency?
- What Is A Pre-existing Condition In Health Insurance?
- What Is The Maximum Number Of Claims Allowed In A Year?
- Can You Pay Your Health Insurance Premium In Instalments?
- Does Buying Health Insurance Give You Tax Benefits?
- What Will Happen If You Miss Your Insurance Renewal Date?
As we know, health insurance is an agreement we make with an insurer who takes the responsibility of covering medical, doctor consultation and emergency expenses in future in exchange for a premium. Insurance can be made for individual use as well as for family or a group of coworkers. Ideal health insurance should cover hospitalisation charges as well as routine care charges, such as physio and psychotherapy sessions linked to post-illness trauma.
Before choosing to purchase a health insurance policy, the need and circumstances should always be taken into account. Let’s know more about health insurance by answering some frequently asked questions.
Frequently Asked Questions About Health Insurance
Following are the frequently asked questions that we have answered for you:
Q. Why Should You Buy Health Insurance?
A. The answer lies in the modern-day medical market inflation. If you don’t want to lose your hard-earned savings paying for huge hospital bills while in a critical situation, you must opt to buy health insurance.
Q. Can You Cover Your Family Under Your Health Insurance?
A. The answer is yes. There are several types of health insurance policies available in the market, among which a family floater health insurance is specially curated for middle-class families, who want to cover the entire family under one plan. This plan can cover your spouse, children, parents as well as parents-in-law.
Q. What Is The Eligible Age To Buy Health Insurance?
A. Different health insurance policies have different age eligibilities. In general, an adult should be between 18 years to 65 years old to be able to purchase one. A child should be above 90 days and below 18 years old to be eligible for getting covered.
Q. Can You Buy More Than One Health Insurance Plan?
A. Yes, it is possible to buy more than one health insurance based on your needs and for different purposes.
Q. Will Your Health Insurance Cover You Across India?
A. This is a valid question which has to be clarified with the insurer at the time of buying the insurance. If you are someone who travels a lot for business or other purposes, you should be aware of this condition. In most cases, coverage is not provided outside the national borders.
Q. Who To Call During An Emergency Hospitalisation?
A. In case of an emergency, your primary focus should remain to hospitalise the patient and take proper care of the treatment. The nearest network hospital should be located first and admit the patient immediately. Only after this is done, you should contact your insurer to inform him about the situation and get guided about the claim settlement procedure.
Q. How To Make A Claim When You Fail To Find A Network Hospital During An Emergency?
A. This is the most humane mistake to make during a stressful moment or emergency. In case you don’t find a nearby network hospital during an emergency, you can get the treatment by paying for it yourself first, then filing for reimbursement to the insurer. The insurer will be obliged to pay you back whatever is covered under the insurance bought.
Q. What Is A Pre-existing Condition In Health Insurance?
A. A pre-existing condition is widely defined as a disease or certain health condition that a person already has before buying health insurance. Most insurances don’t cover pre-existing conditions, so it is very important to clarify this with your insurance before buying one.
Q. What Is The Maximum Number Of Claims Allowed In A Year?
A. You are allowed to claim an unlimited number of claims in a year, but the claimed amount should not exceed the maximum amount of coverage as per the insurance agreement.
Q. Can You Pay Your Health Insurance Premium In Instalments?
A. Basically, the premium for health insurance has to be paid annually, but it can be paid in smaller instalments like quarterly or half-yearly.
Q. Does Buying Health Insurance Give You Tax Benefits?
A. This is a very widely asked question and the answer is yes. Under Section 80D of the Income Tax Act, of 1961, you become eligible to claim tax benefits when you buy health insurance.
Q. What Will Happen If You Miss Your Insurance Renewal Date?
A. If you miss out on the renewal date, a grace period of 15-30 days will be given to you to pay the renewal premium. If you miss that too, you might have to face denial of insurance coverage, denied policy renewal or asked to serve the waiting period all over again.
Buying health insurance online is very easy but buying one just because somebody recommended you is not so wise to do. You should always cater to your medical needs first, then consider if you need insurance. Buying the right health insurance to fit your medical needs is the key to a stress-free life. Your health insurance should necessarily be pocket-friendly and provide you coverage for all your medical needs..