While basic sum insured stays the same and will not be reduced, the cumulative bonus will be reduced by a certain percentage of sum insured when you next renew your health insurance policy.
Will my health insurance policy reimburse medical costs from day one?
Health insurance policies do not reimburse medical costs from day 1. The standard waiting period is 30 days and this may vary between insurers. If you require treatment during this period, you cannot claim reimbursement…
Will I lose renewal benefits if I transfer my health policy to another provider?
The IRDA directs insurance companies to allow health insurance portability from one insurer to another without loss of renewal credit for benefits enjoyed in the existing policy. This is limited to the extent of the…
Who decides on sum insured? The insurance company or I?
Policyholder’s age, medical history, affordability and coverage required determine the sum insured. If the policyholder can afford it, he can go in for a higher sum insured. Annual income will determine the riders and benefits…
What to look for in a senior citizen health plan?
Since senior citizen health insurance plans come with limited coverage and many exclusions, compare insurance quotes online for the following: co-payment – where policyholder bears a portion of risk amount and balance is borne by…
What is the term for a health insurance policy?
This depends on who is issuing the policy, your age, medical history, cover opted for and affordability. While Mediclaim policies are renewable annually, health insurance plans are renewable after a longer period based on the…
What is the process for making a maternity claim?
Maternity coverage offered as a rider with health insurance plan covers medical expenses incurred during pregnancy and caesarean / normal delivery including pre-and post- hospitalization charges, pre and post-natal cover and new born baby cover.After…
What are the eligibility criteria for getting health cover?
Health insurance policies are available to individuals and groups. Individuals can opt for individual or family floater plans to cover their dependents comprising of a spouse, unmarried/ legally adopted/ step children aged between 91days to…
What is the duration of pre and post hospitalization allowed?
For pre-hospitalization, expenses up to 30 days before hospitalization are covered, based on the doctor’s diagnosis and recommendations including the cost of health exams and tests and doctor’s fees. Post hospitalization refers to medical expenses…
What is the difference between one health insurance provider and another?
As with any industry, health insurance is competitive and almost all insurers offer a bouquet of benefits and incentives in terms of caps and sub-limits, claim settlement, a scope of coverage, renewability, and hospital network…
What is pre authorization?
Pre-authorization is when the insured or network hospital approaches the insurer or its TPA for authorization of planned or emergency hospitalization for cashless treatment or enhancement of treatment costs. The TPA checks details of the…