Indian Health Insurance
The cost of the health care in India has raised a lot and this automatically triggered the awareness among the people to insure those selves against any health hazards and also some wise thinkers have insured their family also at the same time. The need to get insured for a health care is even more risen among the community of the old people, who are on the verge of their retirement or already have retired. This need to take a health insurance policy is due to the amount of costs incurred for health care expenses.
Types of health insurance
1. Medical health insurance
2. Critical health insurance
Medical insurance
Medical health insurance in our country has raised a lot due to the present trend or the cautious ness of the people and this has lead to the increase in growth of medical insurance policy takers. A medical insurance can be termed as a cover against the expenses incurred through hospitalization for any kind of treatment against diseases or surgery from the time the patient who is also a health insurance policy holder is admitted as an In-patient in the hospital.
Type’s of Medical Insurance
1. Individual medical insurance
2. Group medical insurance
3. Overseas medical insurance
Premium estimation of medical insurance
The amount of premium can be estimated on the basis of the age of the insurance policy seeker and the amount which is to be assured. Premium amount can be paid monthly, annually and also quarterly. If the policy is a group policy then the premium amount can be estimated by number of people who are taking the policy and the number of the amount which is assured. Generally the minimum amount to be assured in the case of a medical group insurance is 5 lakhs. Overseas medical policy’s premium estimation depends on the country which one is traveling and the amount he/she is getting assured for. Then the whole is divided by the age to get the premium estimate.
For claiming a medical insurance
* The policy owner must duly fill and sign the form of claims and must submit it with the necessary documents which prove that the policy owner has be diagnosed( in case of a disease) and treated and the claimed are the expenses to be paid back by the company.
* A claims agent, who is appointed by the company, then verifies all the statements and the documents and if necessary in some cases enquires with the duty doctor who treated and then submits the total verification report.
* After the submission of the report by the claims agent, the company when satisfied with the report and if it is under the guidelines of the health insurance company clears the amount and pays back it to the insurer. This process may take at least a fortnight and the amount will be paid back thoroughly.
Necessary documents for claiming
1. Hospital or doctor duly signed and attested report
2. The proof of the incurred expenses, whether a computerized bill or a memo.
3. The salary certificate
The company’s offering medical insurance are-
* United India Insurance- med claim Policy
* The New India Assurance co- med claim Policy
* ICICI Lombard- online medical plans
* Bajaj Allianz medical care
* HSBC- Health first
Cover
Insured Sum
The tentative premium table of medical insurance
Premium
Sum Insured= Rs 3 lakhs
Sum insured=6 lakhs
Sum Insured =rs 12 lakhs
Age group/policy period
20-25 900/2,900/4,850 Rs 1,800/5,800/9,700 Rs 11,600/19,400Rs
26-30 1,000/3,300/5,640 Rs 2,000/6,600/11,000Rs 16,600/28,000Rs
31-35 1,250/4,150/7,000Rs 2500/8,300/14,000Rs 16,000/28,000Rs
36-40 1,500/5,150/9,200Rs 3,000/10,300/18,400Rs 20,600/36,800Rs
41-45 2,700/10,520/19,100Rs 5,400/20,500/38,200Rs 41,000/76,440Rs
Critical illness assurance
This type of assurance/ insurance is taken in to shield or protect from the unfortunate sudden critical illnesses and the sum insured is paid back from the insurance company irrespective of the financial loss incurred on the patient’s treatment. All the insurance companies which are prevailing in India, offer critical insurance offer it as a bonus with the life insurance policies, but ion the basis of additional premium. It is a marketing gimmick to attract many crowds. This insurance covers post hospitalization costs, and treatment for critical illness and also cost of operation or surgery. The hospitalization period must and should be at least for 10 periods. The additional benefit of the critical health insurance is that a huge sum of insurance allowance is received, irrespective of the nature of the critical illness.
Payment of premium –calculation/estimation
The calculation is done on the age of the inured and also the health insurance company. Since this critical insurance is offered by a Life Insurance policy, it is a added bonus and so the payment of the premium depends on it. in most cases the premium is on yearly basis.
How to Claim?
* The critical insurance policy holders can make multiple claims till their policy cover is over up to the limit. The critical insurance company pays the sum as claims, no matter the expenses are much low then the paid amount. This is totally opposite to medical insurance as it can be termed as a medical bill reimbursement.
* The claims should be filed very carefully with the prefect proof and must be submitted to the company’s estimator who in turn makes a through survey and if the submitted claims report s flawless and is justified then the incurred financial loss is given back to the policy holder. The whole time taken could be around 7-15 days or even more.
Documents required for claiming a CII claim
* Salary certificate of the policy owner
* FIR copy in case of a hit and run accident case
* Medical certificate and detailed medical bill
* Fully filled claims form signed and attested
* The treatment time leave sanctioned certificate from the policy owners company.
Critical insurance premium table including family also
Companies which offer critical health insurance in India
Companies which offer critical health insurance in India
* Bajaj allianz- insurance against serious illness
* HSBC- illness cover
* Life Insurance Co- Critical illness benefit rider
Tags: Health Insurance