Two health policies with the same sum insured can pay very different amounts on the same hospital bill. The difference lies in the policy wording.
Terms to check
- Room rent limit: a cap on room category can reduce the payout on associated charges too.
- Waiting periods: an initial waiting period, a period for specific illnesses and a longer one for pre-existing diseases.
- Co-payment: the share of every claim you pay yourself, common in senior citizen policies.
- Sub-limits: caps on specific treatments such as cataract surgery.
- Network hospitals: whether hospitals near you offer cashless treatment.
- Restoration and no-claim bonus: how the sum insured is refilled or increased.
Disclose everything
Non-disclosure of an existing condition is one of the most common reasons for claim disputes. Mention every condition and medication in the proposal form.
Keep the policy continuous
Renew before the due date. A break can reset waiting periods. See our health insurance services.
Mutual fund investments are subject to market risks, read all scheme related documents carefully. This article is for general information and investor education only and is not investment advice.
