In this era of epidemic, it is necessary to have health insurance. Especially for senior citizens, the need for health insurance increases greatly. We all know that health spending is increasing rapidly. Any serious illness is enough to push a person into an economic crisis.
Health insurance is necessary to avoid this. Many companies in the market offer different types of health insurance policies, but there are some things a customer must keep in mind when taking health insurance.
The insurance policy should have a higher claim amount for critical illness. In the policies of many insurance companies available in the market, the amount of claim on some serious diseases is relatively less. The customer should know about this before taking an insurance policy. For this, the customer should carefully read all the documents including the cover list of critical illness.
It is always better for the customer to choose insurance policies that cover the entire cost of hospitalization. In the policies of many insurance companies available in the market, the policyholder has to pay the room or ICU himself after a limit. So the customer should know about this before taking the policy
Discount on simultaneous premium deposit
Many insurance policies available in the market are exempted from paying a lump sum premium over the maximum policy term. The policy term can be a maximum of three years. Customers can avail this discount by depositing premium together.
Current disease cover
Before taking health insurance, the customer should know whether the current disease is being covered in the policy. Some companies cover the current illness of the insured in their policies and some do not. It is always good to choose an insurance plan that covers the customer’s current illness and has a shorter waiting period.
Co-payment is the amount that the policyholder has to pay for the insured services themselves. This amount is decided beforehand. Most insurance policies available in the market for senior citizens come with the condition of co-payment. In such a situation, the customer should choose the insurance policy, in which he has to pay a minimum amount of co-payment.
Apart from this, customers can also choose to remove the condition of co-payment. For this, the customer has to pay extra premium.