The absence of COVID-19 vaccine and specific treatment has caused a frenzy worldwide and thus, getting through this pandemic safely is the need of the hour. With over 21 million cases, our world fights an unknown battle where each person can only help by maintaining social distancing& active personal hygiene, along with financial preparedness.The prevailing conditionsdue to the pandemicis makingmedical insurance in India a valuable asset. While people tend to use their savings in a medical emergency, the policy helps protect against financial drain during such situations.
The sudden impact of COVID-19 has made all of us realize the importance of medical insurance in India. Where people rush to buy the policy for its financial benefits, it is essential to learn its benefits and factors that make it.Let us look at some aspects in detail.
- Purchase Policy at Young Age
Age is one of the crucial factors when it comes to purchasing medical insurance in India. All medical plans have a minimum and maximum entry age limit.If you buy the policy in your young years, the premium costs are usually low for a larger sum assured.However, purchasing the same plan at an old age can cost higher premiums. Besides, the coverage period is more at a young age in case of buying the medical insurance policy in India.
- Cashless Claims Vs. Reimbursement Claims
When deciding to buy medical insurance in India, a key aspect that you must consider is whether the plan offers cashless claim or a reimbursement claim. In a cashless claim settlement, your insurer directly settles your bills with the network hospital. In a reimbursement claim settlement, you have to bear the burden of the hospital bills initially. Then you have to submit the medical bills to your insurance provider forreimbursement. You can choose the facility as per convenience.
- Inclusion of Maternity Benefits
With medical expenses on the rise, maternity expenses have also risen. If youare planning it for the future, you can look for medical insurance in India that covers maternity. It offers protection for both the new-born and the mother for a significant period. Usually, there is a waiting of 2-4 years before you can claim the maternity benefits.
- Network Hospitals of Your Insurer
Every insurance company ties up with severalhospitalsto provide treatment benefits for its policyholders. Network hospitals have an advantage of cashless claim settlement, and you can claim various policy benefits easily.However, you must ensure the policy has several network hospitals in your area for convenience. In case of emergency, it will be easy to reach your nearest network hospital for treatment under your medical insurance policy in India.
Ensure Protection Against Uncertain Situations
With the current pandemic scenario, it is essential to buy medical insurance in India for protection against uncertain medical urgencies. The outbreak of COVID-19 has taught us many things, one of them being the importance of having medical insurance in India. Many insurance companies offer benefits to deal withhealth-related issues during COVID-19 through their customized plans. Reputable insurers like Tata AIG providemedical insurance in India that offer benefits against various health emergencies. They also have an exceptional customer support service to support you through all the stages of buying, maintaining, renewing, and claiming your medical insurance policy.
COVID-19 may have brought uncertainty in many aspects, but you can at least ensure financial safety against health emergencies with medical insurance in India.