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Business EconomyPosted at: Jul 9 2020 2:08PM


Lesser Known Aspects Of Health insurance

July 09,2020, Mumbai: Our healthcare system is getting equipped with more modernized technology. Because of the modernized equipment, the cure of several chronic diseases is possible today. However, on one hand, the rise in technology has found a cure for many diseases, on the other hand, healthcare cost has skyrocketed. The price of basic healthcare has risen enormously and that is why it is advisable to buy a health insurance policy from reputable insurers. Health insuranceprovides financial support to the policyholder so that they can have access to quality healthcare in the time of medical emergency.

You might think that the health plan’s only work is to provide coverage against the medical expenses and hospitalization bills. But this is not true,health insurance provides numerous other benefits other than comprehensive coverage. We have come with the list that showcases the lesser-known aspects of health insurance.

Provides Coverage For Recovery Period

This feature is present in health insurance, particularly when the insured opts for personal accident plans. In this plan, the insurance company provides coverage for expenses that are not related to hospitalization but are supplementary expenses. This helps the family of insured financially in the time of crisis. The coverage is available as a lump sum amount.

Medical Check-ups

If you are suffering from a disease, you want it to be diagnosed as early as possible. This will help in the treatment of the disease at an early stage. This will only happen if you go for timely medical check-ups. You can prevent further complications. If you buy a health insurance policy from reputable insurers, you will enjoy the benefit of an annual medical check-up that is offered on a cashless basis.

Many of the policyholders are not aware of this fact, and that is why they don’t take any advantage if this benefit. There is a misconception among the people that they have to pay a higher premium if the test is results are not in their favor. If the diagnostic centers come under the network of your insurer, then you don’t have to pay anything from your pocket. Your insurer will directly settle the bill with the diagnostic center.

You Don’t Have To Pay Loading Fee

Many might have thought that you have to pay loading charges at the time of policy renewal. However, you must know that only those policyholders have to pay this additional amount at the policy renewal who comes in the high-risk category. So, you don’t have to worry about the loading charges, if you don’t come in the high-risk category. You don’t have to pay an extra premium at the time of policy renewal.

Other Allowances

Many health insurance companies provide benefits that cover daily allowance that include attendant costs. You as the policyholder will get additional financial support under the daily allowance. Your insurer will provide you with a specific amount that will help you financially as the coverage will take care of the additional expenses that may arise during hospitalization. The coverage that your insurer will provide will be a fixed amount and will be only for a specified number of days.

These are the lesser-known facts of health insurance that you might have not been aware of.
(Disclaimer--Features may vary depending on the regions; subject to change without notice.)
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