Festival of Rakhi is around the corner and if you are looking at options to gift your sister, a health insurance policy can be the right pick.
Rakshabandhan is a festival that celebrates love and adoration among brothers and sisters. Rakha-bandhan, in literal terms, means a knot of protection. On this auspicious occasion, a brother promises to give a lifelong protection to his sister. And, when the sister ties a Rakhi around her brother’s wrist, he gives her a present in return.
You too must be thinking of a gift for your sister. This Rakhi, you can get her a health insurance policy that will not only provide financial security in the future but also offer protection for the rest of her life.
Why should you get a Health Insurance Cover for your sister?
There are n numbers of reasons to buy a health insurance plan for your sister. These are:
- It will guard the expenses incurred on hospitalisation including charges for a room in case of any medical emergency.
- The hospitalisation expenses accommodate several expenses like surgical appliances, other devices embedded internally, prosthetics, consumables and drugs, medicines, oxygen, blood, anaesthesia, operation theatre, ICU, and cost of lodging.
- Many policies cover pre-hospitalisation as well as post-hospitalisation charges.
- Expenses incurred on maternity and a cover for new born baby is included.
- Day care process that does not require hospitalisation for 24 hours.
- Health check-up expenses after an interval.
Coverage and Benefits under Health Insurance Policy:
Each of the health insurance policy covers the medical therapy cost incurred if the policy holder encounters a medical emergency.
Day Care Procedure:
With the advent of technological developments in medical technology, there are various health problems that require hospitalisation for not more than 24 hours. The medical remedies that do not require hospitalisation or require less than a day of hospitalisation are called day care procedures. Nearly all the popular health insurance policies offered in the insurance sector in India cover the expenses incurred because of such day care procedures.
Cashless Hospitalisation Facility:
Most of the popular health insurance policies cater to a facility of cashless hospitalisation to the insured. The cashless facility offered by the insurer is made available for the insured at all the network hospitals of the insurance provider. The cashless hospitalisation facility’s claim procedure is very quick and easy.
Many of the well-known health plans cover the expenses incurred on room rent because of hospitalisation. Some health schemes cover the total expense, whereas a few insurers only cover a certain percentage of the total expenses in the current hospital for rent.
Health insurance policy also covers the domiciliary expenses, in case you require some special sort of therapy like acupressure, acupuncture or remedies including Ayurveda, or Unani medicinal procedures.
The coverage options will vary from policy to policy. The sum cover will depend upon the plan chosen by you. Many of the health insurance policies cover the pre-existing ailments after a particular point of time. It is recommended to buy a health cover as early as possible because of lesser premium rates.
Brothers and sisters share a special bond. Giving a health insurance cover for your sister’s life might be the right way to show her that you really care. All the insurers offering general insurance provide an array of health insurance plans. These insurance firms have an innkeeper of various products to cater to the various requirements of a customer.
Some of the health plans cover maternity and pregnancy charges up to certain limit while some schemes might not come with such an option. It is recommended that you invest a little time to glance at the policy coverage and its exclusions before buying a health plan for your beloved sister.
Now that Health Insurance Portability has implemented in India, this option gives your sister the freedom to switch her health cover from one insurance company to another. If in future, your sister feels that her existing health insurance plan is not adequate enough as per her requirements, she can move over to a different plan without losing out any benefits earned by her on the previous plan.
General Tips to buy a Health Insurance Policy for your Sister:
Look for Apex Insurance Plans:
In order to look for an apex health insurance plan for your sister, you will have to delve into a wide range of similar health plans existing in the market. Remember to seek various health plans before you finalise one.
Buy via Insurance Aggregator:
It is understood that the insurance companies will uphold a higher level of transparency than any other agent or broker while buying the best insurance policy for your sister. A policy can be bought online after understanding it comprehensively. However, while purchasing a plan through an online insurance aggregator, you will receive the facility to make comparisons among different health insurance plans and choose the best for your sister.
Look for an affordable Health Insurance Policy:
Medical insurance assists you to avoid the high costs incurred during hospitalisation, in case you come across any medical emergency that causes emergency hospitalisation. There is no use of paying such massive medical bills. Insurers provide healthcare cover at affordable premiums that you can benefit as per your own convenience.
Do not compromise on Coverage and Benefits:
Bear in mind; buy a health plan offering all the benefits crucial for your sister. Do not buy a health cover that needs a lower premium and offers limited cover. You must read the policy document carefully that will assist you in knowing the actual benefits that a plan offers.
Look for Cashless Benefits:
This is one of the prime features, which refers to the crisis assistance, in case you face any medical emergency. It will assist you in availing the benefit of cashless treatment at the network hospitals of your insurer.
Review your Current Policy and seek Options to port:
If your sister already has a health insurance cover that meets all her medical requirements and she is still young and healthy, you can avail the option of porting the existing policy into another health plan available at a moderately lower premium. You can also choose to port into a fresh plan offered by another insurer if required. In this case, you have to notify your insurer about such requirement 2 months prior to the renewal date of the upcoming policy.
The chances of portability are slim, in case you have already made claims under the existing health cover, or have been diagnosed with a critical illness. One thing you can attempt in this scenario is that get add-on coverage from your existing insurer.
Investing your money in a health insurance plan is a wise option. More people are choosing it as a gift solution for various occasions, Rakhi being one of them.
Hope you can buy the best health insurance policy for your sister this Rakhi. If you still get confused with several health insurance plans, ask your insurance broker or agent to assist you or you can get hold of the customer care executives of the insurer directly.
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