1. Why insurance against cancer is critical?
A cancer insurance policy shields you and your family from the financial burden of huge treatment costs for the deadly disease. Cancer insurance covers patient right from the early to the advanced stages. The insured person is provided a lump-sum upon the detection of cancer, and hence, unlike regular health cover policy, cancer insurance payout can be used for recuperation-related expenses as well. Buy a cancer insurance policy today, and keep your savings secure in the future.
2. What is the difference between mediclaim and fixed benefit health insurance?
Mediclaim policies cover hospitalization expenses but fixed benefit health insurance plan provides a fixed lump sum upon diagnosis of certain critical illnesses. Use mediclaim to cover your regular health related expenses. Use fixed benefit health insurance plan to cover critical illnesses.
3. What are the things to look for while choosing a health insurance plan?
While looking for a health insurance plan, it's beneficial to get health insurance quotes from various insurers and compare their features and benefits online before choosing. Consider these things before buying health insurance plans:
1. Claim process
2. Waiting period
3. Network of hospitals
4. Cumulative bonus benefits
5. Family floater plans
6. Critical illness coverage
7. Maternity benefits
8. Co-payment clause
4. How do I choose a health insurance plan?
In order to choose the best health insurance plan for yourself, you must follow these steps:
1. Compare health insurance plans from various insurers online
2. Understand your needs and determine the suitable health coverage
3. Look out for the network hospitals and other features of the policy
4. Determine the suitable tenure of the policy and renewal frequency
5. Select the best health insurance plan that caters to your diverse needs. Check which diseases are covered and which are exempt. You may consider buying fixed benefit health insurance plan to cover certain critical illnesses, such as heart disease and cancer.
5. Can I cancel my health insurance policy and get a refund?
Generally, there is a free-look period of 15-30 days, and if you cancel health insurance within this period, the entire premium amount would be refunded after deducting the stamp duty fees and proportional risk charges for the days you are being covered. But, if you wish to cancel the policy after this period, only a percentage of your premiums towards the health insurance policy would be refunded by the insurer.
6.Can a person have more than one health policy?
Yes, any individual can have multiple health insurance plans from different insurers. This will help them diversify the benefits across the insurers and also increase the coverage amount. For example, you can buy health insurance policies for yourself from different insurers or you can purchase individual health cover and also include yourself in a group health insurance plan for your family to enjoy much larger cover.