Health Insurance

Health Insurance

• 1.
  Topic :Health Insurance Marketingof Financial Services
• 2.
  Health Insurance • Insurancethat covers your medical expenses. • A health insurance policy is a contract between an insurer and an individual /group in which the insurer agrees to provide specified health insurance cover at a particular “premium” • Financial protection to meet the expenses incurred due to hospitalisation or treatment of some disease
• 4.
  Key benefits ofHealth Insurance 1.Cashless Medical Treatment: Empaneled hospitals 2.Coverage of Pre and Post Hospitalization Expenses 3.Ambulance fee 4.No Claim Bonus- Increment in sum assured or discount in premium cost 5.Medical Check up Facility-Add on Benefit 6.Room Rent Sub limits in Insurance plan 7.Co Payment-Certain % to be beard by the Individual 8. Tax Benefit: Section 80D
• 5.
  Top 10 Thingsto Know Before Buying a Health Insurance Policy 1. The Age Criteria:the cost of premium would depend on the age 2. The Right Combination of Premium and Coverage: buy a policy that offers adequate coverage, without compromising on the benefits and at a premium that you can afford. 3. The Waiting Period Clause :choose a plan that comes with a minimum waiting period to be able to claim the benefits in case of a health emergency. 4. Cashless Hospitalization Benefits:check with your insurer for the list of empanelled hospitals and know what all network hospitals are there in your vicinity.
• 6.
  Top 10 Thingsto Know Before Buying a Health Insurance Policy 5.Pre and Post Hospitalization Coverage:Buy a plan that covers expenses incurred before and after the hospitalization as well to save expenses incurred on ambulance charges, medical tests, medicines, doctor fees 6. Coverage of Maternity Expenses:it is better to buy a health plan that covers maternity expenses as well.(2-4Years) 7. No-Claim-Bonus/No-Claim-Discount
• 7.
  Top 10 Thingsto Know Before Buying a Health Insurance Policy 8. Preventive Health Check-up Facility 9. Co-Payment Clause 10.Claim Process
• 9.
  FAQ • Are thereany tax benefits which can be availed through health insurance plans? • The premium paid towards the insurance policy can be claimed as a tax-saving deduction under Section 80D. A taxpayer is permitted deduct up to Rs 25,000 annually for a health insurance policy, where the premium is paid for yourself. In case the premium is paid for a parent, a deduction of Rs 30,000 can be claimed.
• 10.
  What is theclaim settlement ratio? • Claim settlement ratio would indicate the ratio of claims settled against claims reported during the year. Always make sure to check the ratios of your health insurer before you purchase the plan.
• 11.
  Is there awaiting period for claims under a health insurance policy? • Usually, there will be 30 days waiting period, starting from the policy inception date. During this period any hospitalization charges will not be payable by the insurance companies. However, emergency hospitalization occurring due to an accident is excluded. There is no waiting period applicable for subsequent policies under renewal.
• 12.
  What is a"health check" facility? • Some health insurance policies pay for specified expenses towards general health check up once in a few years. Usually, this is available once in four years.
• 13.
  What are thefactors that affect Health Insurance premium? • Age is a major factor that determines the premium. Previous medical history is another major factor that determines the premium. Claim free years can also be a factor in determining the cost of the premium as it might benefit you with a certain percentage of the discount.
• 14.
  Can the policybe transferred from one insurance provider to another provider without losing the benefits? • The Insurance Regulatory and Development Authority (IRDA) has issued a circular making it effective from 1st October, 2011, which directs the insurance companies to allow portability from one insurance company to another and from one plan to another, without making the insured to lose the renewal credits for pre-existing conditions, enjoyed in the previous policy. The sum insured under the previous policy will continue.
• 15.
  What is acashless facility? • Health insurance companies have tie-up arrangements with several hospitals all over the country. Through these tie-ups, the hospitals become part of the network. If a health insurance policy offers the cashless facility, a policyholder can take treatment in any of the network hospitals without having to pay the hospital bills. The payments to the hospital are made by a third-party administrator who acts on behalf of the insurance company.
• 16.
  You tube Link •https://youtu.be/Z1wEzF4qVDc