Why Health Insurance is must for your family members

In an emergency condition, the expensive medical cost can be a burden for you to provide better treatment to your family members, especially when you don't have enough money at that moment.

So, having health insurance helps you get cashless medical treatment.

To get the benefits of your health insurance plan, it is crucial to understand your insurance plan

Some important terms you have to know 
 Before buying a health insurance policy it is important to know the meaning of some term.

● Premium: Premium is an amount paid periodically towards insurance plan . If the coverage is high, the premium amount may also high.

● Beneficiary: In insurance beneficiary means who benefits from the policy.

● Waiting Periods: This is a time after which you can get the benefits of your health insurance plan.

●Claim: It is a request to the insurance company asking for a payment based on the terms of the insurance policy.

● Inclusion: Which is covered in your health insurance plan is considered the inclusion of your plan . It is referred into the policy documents.

● Exclusion: There is also some treatment excluded that are not covered by health insurance policy. These are
->  Cost of plastic or cosmetic surgery
-> Cost of war-related injuries
 -> Self-inflicted injuries
 -> The cost of medical treatment arising out of addiction There is also some treatment excluded that are not covered by health insurance policy. These are
 -> Cost of plastic or cosmetic surgery
 -> Cost of war-related injuries
 -> Self-inflicted injuries
 -> The cost of medical treatment arising out of addiction

 ● Network Hospital:  Network Hospital is that hospital that has a tie-up with the health insurance company.

● Domiciliary Hospitalization:  It is basically the treatment of the patient at home. Most health insurance covers this facility as per doctor's recommendation

   What is covered under Health Insurance?
 Death benefit paid to the nominee in case of death of the policyholder.
Cover the accidental outcomes Cashless treatment facilities in-network hospital.
 Covers pre and post hospitalization expenses.
 Cover prescription drugs and laboratory service.

Why you should know about Cashless Hospitalization service

 Have you ever had to rush into ATM at midnight because your nearest one had to be hospitalized due to an emergency?
Cashless hospitalization is the service which is designed to avoid in such panicky & needy moments.
Cashless service is available only those hospital which is a tie-up with your health insurance companies.
This insurance company coordinate with the hospital through TPA ( Third party administrators ).
But this service is limited to a max amount assured under your policy.

The cashless hospitalization is two types : 

 • Emergency hospitalization :
    In emergency hospitalization you should follow the following step :
 -> You have to show your health insurance card with details of coverage
 -> Then you have to fill an authorization form and wait for the approval from the TPA.
 -> If the approval from TPA is late you may settle the bill, then you can file a payout claim.

• Planned Hospitalization :
-> In this process, you also need to fill a pre-authorization form from the insurance desk at the hospital.
-> Then you need to wait for approval from the TPA.
-> Thereafter, you get the sanctioned amount details.

Types of Health Insurance plan:
● Individual Health Insurance
● Family Health Insurance
● Senior Citizen Health Insurance
● Critical Illness Insurance
● Maternity Insurance

Top Health Insurance Companies 

● Apollo Munich Health Insurance Company Limited
● Bajaj Kalian General Insurance Company Limited
● Bharti AXA Life Insurance Company Limited
● Birla Sun Life
● HDFC ERGO General Insurance Company Limited
● Kotak Mahindra General Insurance Company       Limited
● Life Insurance Corporation of India
● Max Bupa Health Insurance Company Limited
● National Insurance Company Limited
● Reliance General Insurance Company Limited
● Religare Health Insurance Company Limited
● SBI General Insurance Company Limited

Conclusion :
Hopefully, this article helps you to understand the initial understanding of health insurance.
So, understand the complete terms and conditions of a plan before deciding to buy it.