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Finance Forum India

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How Does Top-Up Insurance Work in Medical Insurance Policies?

A health insurance policy is the need of the hour. With rising medical inflation, the cost of being treated at a hospital may burn a huge hole in your pocket. In order to shield yourself against financial burden during medical contingencies, you may invest in a mediclaim policy. By doing so, you may enjoy financial security and have peace of mind knowing that you and your family are secured at all times. Most health insurers provide the option of riders. Such riders, also known as add-ons or top-ups, enhance the coverage of your policy. You may, therefore, enjoy additional benefits by...
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Top 6 Plans for Senior Citizens Health Insurance

Different insurance providers offer several different schemes for senior citizens. It is highly imperative to examine the details of the insurance policy thoroughly and stay well-informed of the coverage. Depending on the health requirements and your budget assess all the features of the insurance policies and make an ideal choice best suited to your needs. Let’s look below at some top insurance providers and the salient features for senior citizen health insurance: 1.       Bajaj Allianz – Silver Health Policy – ·         Offers Coverage from age of 46 to 70 years with lifetime renewals ·         Pre-medical tests are undertaken to assess the...
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Individual Mediclaim or Family Floater: Which to Choose?

Health insurance is the need of the hour today. The addition of health insurance cost is a must in your annual financial budget. It provides the assurance of payment of your medical expenses whenever in need, so that you’ve one less thing to worry about. Also, there has been a tremendous rise in the cost of healthcare over the years, so if you don’t want to burn a hole in your pocket better opt for a health insurance policy. While opting for a health insurance policy or Mediclaim, families are often muddled about which one to opt for, whether an individual...
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Basic Factors to Consider Before Opting for Health Insurance in 2016

Mr. Verma was contemplating availing a health policy to protect himself and his family in case of any emergency. Despite his sincere efforts to find the best option and compare policies he only found himself more confused with the various features. Mr. Verma isn’t alone in his confusion. Thousands of consumers struggle to understand the basics of health insurance, and many land up buying plans that don’t really meet their needs. To help people like Mr. Verma and others make a better-informed choice, here are some factors to consider:   Cashless Medical Claim: Before you decide to buy this kind of...
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How to Buy Health Insurance in India

During the last 5 years, the health insurance industry has undergone several changes. With new regulatory guidelines, the overall sector is standardized. As a result, there has been a significant rise in the number of people opting for health insurance plans. Unfortunately, most consumers tend to make ill informed decisions and later find themselves stuck with a plan that does not suit them. Standard medical policies have several new features as insurers compete to grab market space. Buyers need to keep in mind that it is now mandatory for all of these policies to be issued for life. Moreover, insurance companies...
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Importance of Health Insurance for Senior Citizens

As we age, the chances for us getting sick also increases. A medical emergency can arise at any time and can cause a major financial disturbance as well. This is why it is extremely important for senior citizens to have health insurance.  A good health insurance will cover most of such untimely medical costs along with the other domiciliary expenses. It is always beneficial to choose one that is specifically for the senior citizens. Since health insurance is still a new concept in India, most of the senior citizens presently never got a chance to invest in one. Buying a health...
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New Health Insurance Policy with Maternity and New Born Cover

The latest entrant in the health insurance market from Religare Health Insurance Co Ltd (RHICL) is a new health insurance policy called ‘JOY’. The JOY offers insurance cover during maternity and for the new born baby. This is not an additional coverage unlike the policies from Apollo Munich easy health insurance and the Max Bupa heartbeat health insurance. Religare Joy – All that matters about the maternity insurance This one of a kind maternity and hospitalization insurance cover has the shortest waiting period of just nine months for a customer to claim any maternity related expenses. The insurance offers coverage of...
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Do’s and Don’ts while Filing Health Insurance Claim

Health Insurance offers an umbrella against unforeseen medical expenses when an illness strikes, incapacitating the individual and affecting his income. If taken well in advance, it can meet the medical treatment costs and spare financial trouble for the family. However, to claim the benefits, the beneficiary must file a medical insurance claim that is the formal intimation of the illness to the insurer. Once a claim is filed, the insurer must notify the beneficiary within a certain time-frame that his/her claim has been accepted or rejected. Though there are some health insurance companies which settles down insurance claims within 30 days from...
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Mediclaim: Your Immediate Life-saver

Has the sky ever fallen on you under the guise of medical bills? If high medical bills have managed to burn a reasonable hole in your pocket, then it would be advisable to save a certain portion of your regular income towards mediclaim or health insurance. The thought of spending the entire savings on a medical bill can be daunting for an average middle income person. In the eventuality of unforeseen medical bills and rising inflationary trends, they can land on us like a ton of bricks leaving us in precarious financial state of affairs. A timely investment in the form...
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Which Health Insurance Policy Fits You Perfectly?

“If I were a rich man! Yubby dibby dum!” We all love humming similar tunes to man singing his tune on The Fiddler on the Roof. Even a rich man cannot buy health in today’s world of increased pollution and disease threats. Health is now more valuable than gold and diamonds. Hence, the surge in the number of insurance companies available in the market today is understandable. Investing in one’s health is more valuable than investing in high-yielding stocks and bonds. Yet, not all health insurance plans are suited for all. Based on one’s lifestyle and family size, it’s important to...
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