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Health Insurance : Thinking of taking Health Insurance? Keep these things in mind, it will be a big benefit

If you do not make any claims during a policy year, insurance companies increase your sum assured the following year. This is called a no-claim bonus.

With the passage of time, both the need and importance of health insurance is increasing. It protects you from unexpected expenses in case of accident or illness and also keeps your savings safe. There are some things that are very important to keep in mind while buying health insurance. Let us know some important questions that you should ask while buying health insurance.

Which illnesses will be covered?
The first and most important question is what illnesses your policy covers. Make sure you understand all the illnesses and conditions it covers, so that you don’t have to regret it later.

How much No-Claim Bonus (NCB) will you get?
If you don’t make any claims during a policy year, insurance companies increase your sum assured the following year. This is called a no-claim bonus. When buying insurance, ask how much the company offers for the no-claim bonus. This is a great way to increase your cover over time.

What is the waiting period?
Most policies have a waiting period for pre-existing condition coverage. As per the rules, the maximum waiting period for chronic conditions can be 3 years. But many companies start providing cover after 2 years. While buying a policy, make sure to check after how many years you will get cover for any of your conditions.

What is not covered by the policy?
Every insurance policy has some exclusions, meaning some things that are not covered. It is very important to know what will not be covered in the policy you buy. This will help you avoid problems like claim rejections in the future.

What is the Claim Settlement Ratio (CSR)?
This is a very important factor. It is very important to know the claim settlement ratio of the company from which you are buying a policy. This tells you how efficient and reliable the company is in settling the claims of its customers. Always buy policies from companies that have a good claim settlement ratio.

What are the partner hospitals?

Insurance companies partner with hundreds of hospitals. But it is very important to find out whether your policy includes a good hospital near your home. It may happen that the policy you have purchased does not have a convenient and good hospital available for you, especially in case of an emergency.

Bhupendra Pratap
Bhupendra Pratap
Bhupendra Pratap has over 3 years of experience in writing finance content, entertainment news, cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @insuranceindiaain@gmail.com
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