Reputed providers, like Apollo Munich have clearly explained all these terms in plans policy wordings. Health insurance is a viable tool that makes medical treatment accessible and affordable. A large number of people do not invest money in health insurance products and thus, fall into the hassle of financial problems. It has been noticed that a large number of the Indian families faces financial problems, when their loved one become victim of any sudden mishap that engenders health issues. It is because of rising medical care cost that is not easy to afford. Looking into the problems faced by people in seeking the quality medical treatment, health insurance companies have designed variety of products to help people seek the needed assistance.
But, why do people do not take advantage of these products? Why dont they buy invest money and seek the needed coverage?
The research shows that people belonging to this pool are either not aware of health insurance or they believe these plans to be complicated. The most common cause for this conclusion is the claim rejection. When a health insurance claim gets rejected, people have to face through a series of problems and thus, the confusions start. There are very less number of people who ponder over the reason of their claim rejection.
The study carried out on claim rejection shows that majority of times, people do not take pains to understand the plan before buying and thus, come across the related issues in life. These people call the insurance terms jargons and stop to renew their plans. There is a need to educate these people about the importance of health insurance and the easy way to seek the quality medical treatment. There are many terms that people call jargons, but truly speaking they are the people who do not want to learn about these terms and know about their coverage limits. A person who is active buyer does not have to go through these problems, just because he or she is aware of covered and uncovered perils.
Every health insurance plan has certain sub limits and checks to ensure that only genuine cases are settled, else the health insurance industry would go broke. People should be aware of these checks that could prevent them of the coverage. The knowledge of such terms would help you avail better medical protection.
Lets discuss few of the insurance terms that may be called jargons by few people. Pre and post-hospitalization: This benefit allows insured people to seek coverage for medical expenses arising few days before and after the hospitalization, subject to the condition that these medical expenses should be for the same cause, for which a person is hospitalized. Secondly, there is a limit for certain number of days for which an insured can seek the coverage under this benefit.
Deductible: It is the part of medical treatment expenditure that is to be paid by an insured. Only after the payment of deductible amount by an insured, a person is entitled for the coverage of rest of amount, as per the conditions of the plan.
Network Hospitals: These are the hospitals with which insurance companies have tied up with in order to help its customers seek coverage for covered perils on cashless basis. a policy holder cannot opt for Cashless Hospitalization in non-network hospitals.
Waiting Period: It is a time period for which there is no coverage offered to an insured, against specific ailment. A person has to get the plan renewed for this time period regularly to enjoy fully fledge benefits of the plan. For example, maternity coverage can be availed after a waiting period of 4 or 6 years. It is only after this time period that a person can get the benefit of maternity coverage.
Likewise, there are many other health insurance terms that a person should understand before calling them jargons. Reputed providers, like Apollo Munich have clearly described the meaning and associated clauses of these terms in its policy wordings. Buyers should read these conditions to have better understanding of the plans coverage. It would keep them away from the claim related and other hassles. So, know about your plan for better protection.
But, why do people do not take advantage of these products? Why dont they buy invest money and seek the needed coverage?
The research shows that people belonging to this pool are either not aware of health insurance or they believe these plans to be complicated. The most common cause for this conclusion is the claim rejection. When a health insurance claim gets rejected, people have to face through a series of problems and thus, the confusions start. There are very less number of people who ponder over the reason of their claim rejection.
The study carried out on claim rejection shows that majority of times, people do not take pains to understand the plan before buying and thus, come across the related issues in life. These people call the insurance terms jargons and stop to renew their plans. There is a need to educate these people about the importance of health insurance and the easy way to seek the quality medical treatment. There are many terms that people call jargons, but truly speaking they are the people who do not want to learn about these terms and know about their coverage limits. A person who is active buyer does not have to go through these problems, just because he or she is aware of covered and uncovered perils.
Every health insurance plan has certain sub limits and checks to ensure that only genuine cases are settled, else the health insurance industry would go broke. People should be aware of these checks that could prevent them of the coverage. The knowledge of such terms would help you avail better medical protection.
Lets discuss few of the insurance terms that may be called jargons by few people. Pre and post-hospitalization: This benefit allows insured people to seek coverage for medical expenses arising few days before and after the hospitalization, subject to the condition that these medical expenses should be for the same cause, for which a person is hospitalized. Secondly, there is a limit for certain number of days for which an insured can seek the coverage under this benefit.
Deductible: It is the part of medical treatment expenditure that is to be paid by an insured. Only after the payment of deductible amount by an insured, a person is entitled for the coverage of rest of amount, as per the conditions of the plan.
Network Hospitals: These are the hospitals with which insurance companies have tied up with in order to help its customers seek coverage for covered perils on cashless basis. a policy holder cannot opt for Cashless Hospitalization in non-network hospitals.
Waiting Period: It is a time period for which there is no coverage offered to an insured, against specific ailment. A person has to get the plan renewed for this time period regularly to enjoy fully fledge benefits of the plan. For example, maternity coverage can be availed after a waiting period of 4 or 6 years. It is only after this time period that a person can get the benefit of maternity coverage.
Likewise, there are many other health insurance terms that a person should understand before calling them jargons. Reputed providers, like Apollo Munich have clearly described the meaning and associated clauses of these terms in its policy wordings. Buyers should read these conditions to have better understanding of the plans coverage. It would keep them away from the claim related and other hassles. So, know about your plan for better protection.
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