Health Insurance: Understand the Fine print

Health insurance: Understand the Fine print of your Health Insurance

Many people have a misbelieve that, buying a health insurance is just like buying stocks, bonds, gold and mutual funds. Well, of course the Health Insurance is the investment of your money but well, before buying a health insurance it is better to read that fine print of your health insurance.

Here are the things that you should read carefully in your health insurance before buying it.

01) Exclusions: Read the exclusions of the health insurance policy in detail before buying it.

02) Past Baggage –Most policies cover expenses incurred for the treatment of pre-existing diseases only after a waiting period. Pre-existing diseases are defined as those which were diagnosed or treated during the 48 months prior to taking the policy.

03) Waiting Period - This is applicable to pre-existing diseases which are not admissible. It can vary from one to four years, depending on the policy and the insurance company.

04) Restrictions - It is important to know the illnesses that are not covered by your policy. But it is equally important to know how much you can spend on them.

05) Reasonable and Necessary -

06) Claiming the money -

07) Renewal Guarantee -

08) Protect Your interests - he unit-linked platform in the life insurance space has been widely regarded as a fertile ground for mis-selling, prompting the insurance regulator to take steps to limit charges and rein in insurance agents.