Health insurance products in India include indemnity health products, senior citizen plans, critical illness covers, top-up and super top-up covers, and group health covers. These products are offered on an individual or family floater basis, depending on eligibility and policy structure.
Most policies cover hospitalization, day-care procedures, pre- and post-hospitalization expenses. Expenses/treatments falling within applicable waiting periods, cosmetic procedures unless medically necessary, self-inflicted injuries, and non-payable, non-medical items may be excluded, subject to policy terms.
As per IRDA mandate, every health insurance policy covers AYUSH treatment which includes Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy, subject to policy terms.
Cashless hospitalization lets your insurer settle eligible medical bills directly with a network hospital. You only need to complete the required authorization process and pay any non-covered expenses.
Typically, you'll need identity proof, address proof, age proof, recent photographs and health declarations. Medical tests may be required depending on your age, health condition or the sum insured.
Compare coverage, room rent limits, deductibles/ cop-pay, waiting periods, exclusions, sum insured, network hospitals, claim process, premiums, add-ons/optional covers and customer service. The lowest premium may not always offer the best protection.
The insurance company issues a health card, offers proof of policy, and allows cashless hospitalization at the network hospitals. It eases the process of claim and ensures quick access to medical facilities.
A family floater plan covers multiple family members under a single sum insured. It is ideal for young families looking for affordable coverage under one policy.
For cashless claims, inform your insurer and obtain pre- authorization for each hospital admissions. For reimbursement claims, pay the hospital bills first, then submit the required documents for claim assessment and reimbursement.