According to the report published in July by the International Diabetes Federation, the number of diabetic patients in India is expected to reach 100 million by the year 2030. Lifestyle changes, demographic changes and rapid urbanization are some of the primary causes of diabetes. Diseases like diabetes take a long time to heal and its treatment is also expensive. Diabetes is becoming a common disease nowadays, which usually occurs in people. Apart from this, there are many fatal diseases, such as cancer.
According to a report by the Indian Council of Medical Research, in the year 2016, there were about 1.4 million cancer patients in India. This number is increasing rapidly. Getting proper and good treatment of cancer is far from the reach of the common man because it costs a lot of money to treat it. Diseases like cancer, diabetes and heart disease not only affect your health, but you also become financially weak due to the expenses incurred in treating them. Therefore, it is necessary to get health insurance.
In this, financial assistance is provided for the treatment of various diseases. But once a plan is not completed our work. We should also renew it from time to time. Therefore, through this article, we are giving information about the renewal of the health insurance policy.
Why there is a need to renew health insurance?
Your needs and plans change over time. Renewed health insurance plans available in the market help protect you and your family from various medical emergencies. Keeping in mind the following points, we need to renew our insurance plan.
After Marriage – If you are buying a personal health insurance policy before marriage, which only covers you, then after marriage you will have to buy another insurance policy. You will have to either buy a separate health insurance policy for your wife or husband or you can also buy a family floater health insurance policy, which provides cover to the entire family. Continuing or discontinuing an existing individual health insurance policy depends on your needs.
After childbirth – If you have already purchased a family floater health insurance policy, it should be renewed after the birth of the child. You can add your child to this type of policy. But many insurance companies allow it to be added 90 days after the birth of the child. Also, the cover for a newborn child depends on the insurance companies. Terms, conditions and features should be considered while renewing the policy.
To increase the sum insured – Mehangai is increasing over time. As well as hospital expenses. In such a situation, how can the sum assured in the plan of 5 years or a few years ago be sufficient at present? The insurance amount should be revised according to the priorities and needs.
To add riders – There is an additional benefit when taking riders separately. By taking appropriate decisions, you can increase the cover for a lower price. Critical illness rider, personal accident rider, maternity cover, room rent waiver and hospital cash rider are the most commonly used riders in the health insurance scheme. Personal accident rider covers hospital expenses at the time of an accident. The critical illness rider covers the expenses of treatment for critical illness.
For cashless facility – If your insurance policy does not have a cashless treatment facility and the company also delays in reimbursement then you can upgrade your policy to get a cashless facility. You should find a policy that offers cashless facilities and has many networked hospitals. The insured person does not have to pay in the hospital for treatment in a network hospital. Only he can get treatment by showing the policy card. This relieves problems such as claiming reimbursement and arranging money.
To facilitate lifetime renewal – If your current health insurance policy offers a renewal facility up to a certain age, then you should consider changing or renewing this plan. Select a plan that facilitates lifetime renewal. Because health starts deteriorating with age and your treatment costs a lot of money. Therefore choose a plan that facilitates lifetime renewal.
So you should always compare your health insurance plan with other options available in the market and if your current health insurance company does not offer you better coverage or you get a better plan than your current plan, then your current plan Upgrade or switch company.