Insurance is a method of risk management. When you acquire insurance, you are transferring the expense of a prospective loss in exchange for the matured insurance fee when it is needed.
Health difficulties have been rapidly increasing in recent years. The most alarming is cardiovascular diseases, and it equivalently has given rise to the need for health insurance for heart patients.
According to a survey conducted, on average, about 4 million people die from cardiovascular diseases every year. A whole list of causes prevails that causes CVD:
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Hypertension
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Diabetes
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Forbidding exercising
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Hereditary
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Smoking and drinking
Recently, blood pressure has been shooting amongst people provided the situation of the pandemic. A lot of people have lost their everyday bread and additionally have clubbed up hospital bills. Assimilating from the situation it has become a prominent need to have health insurance.
As the number of ailments rises, so does the number of treatments and drugs available. As a result of technological developments, medical costs have risen dramatically. Any disease or injury can be extremely expensive to treat.
However, there is a way to save your wallet from the holes that hospital expenditures would cause. Health insurance is a contract where the firm agrees to pay for all or part of the hospital fees. Most insurance firms have relationships with well-known hospitals and can assist in obtaining care without incurring financial risk. Insurance is required not only for diseases but also for accidents.
However with the rising requirement of health insurance, it is customary to have questions for instance; what tips should be followed when buying health insurance?
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Pre/Post hospitalization– When buying health insurance, always study whether the company provides you with the pre and post-hospitalization expenses. The pre and post-duration days can vary according to the insurance plan you choose, but it for the most part is 30/60 days. These expenses include doctor consultations, diagnostics tests, and medications for pre and post-hospitalization.
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Cardiac health check-up– It is the responsibility of the company providing the health insurance to also provide a regular cardiac health check-up. It is one of the basic features of cardiac health insurance and should be provided under all insurance plans.
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No claim bonus– Let us face the fact that if you spend thousands and lakhs of rupees on insurance, you would want some reimbursement for the time you don’t use your insurance. Insurance companies have a policy of increasing the sum insured by 10% and up to 50% if not claimed for 5 consecutive years.
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Domiciliary hospitalization-The insurance companies assure to cover the expenses of your hospitalization for three consecutive days if no room is available in the hospital and your treatment is shifted to your home.
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Alternative treatments– Some medical companies have the provision of providing conventional and alternative treatments. It is strongly believed that a cure could be found for almost all diseases if one knows to look in right place. Indians firmly believe in Ayurveda, Unani, Sidha, and homeopathy and thus many treatments under them are covered by insurance policies.
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Ambulance cover– One of the perks of having policies is you don’t have to worry about the superficial expenses, for instance; the ambulance. The companies ensure that you do not have to fret about the fact of added expenses on your bills with a lot on your plate already.
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Cashless treatment– During your time of hospitalization and your treatment, the medical company settles down your bills with the hospital directly without causing you any worry. Most medical companies have tie-up with the hospitals and ensure that all the medicines and treatments are free for you.
With the perks the insurances offer, there also are some ground rules to claim health insurance:
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The minimum age to buy cardiac health insurance is 18 years, and no child below that age bar is allowed. However, you can purchase it at any age above 18.
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A fixed waiting period is ensured by the company under different circumstances:
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The initial waiting period is of 30 days.
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Any ailment waiting period is of 24 months of continued coverage.
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The pre-existing wait period is of also 24 months of continued coverage.
Exclusions in cardiac health insurance:
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Expenses arising due to attributable to alcohol or any drug use.
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Treatments arise as a result of pregnancy, miscarriages, or abortion.
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Treatments occur due to engagement in some war or riot.
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Expenses arising due to self-induced injury.
If you are willing to buy health insurance but debating on where to go, care insurance is your answer. It claims to provide all the incentives mentioned above and much more along with home care expenses that include the hiring of a professional nurse or a caretaker and care shield. It also makes sure that you are provided with a second opinion by an expert to clear all your doubts and remove all misappropriate thoughts from your mind.