All You Need To Know About Health Insurance Covers

All You Need To Know About Health Insurance Covers

When it comes to giving you financial security in the event of various health difficulties, a health insurance plan is crucial.

It is crucial to comprehend your health insurance plan in order to make use of its benefits. This article will serve as a guide for you as you attempt to understand health insurance.

Health insurance terms:

  • Survival period: The policyholder has to survive for at least 30 days after the medical condition diagnosis to avail of the claim benefits.*
  • Network hospitals: All health insurance companies have partnerships with specific hospitals; these hospitals are referred to as the insurer’s network hospitals.*
  • Waiting period: Every health insurance plan has a waiting period after which you can start using your health insurance plan’s benefits. However, some exclusions are covered even before the waiting time has passed.*
  • Inclusions: Your plan’s inclusions are everything that is covered by your health insurance coverage. The policy documents make notice of the inclusions.*
  • Exclusions: Your health insurance plan’s exclusions are all of the things that they do not cover. The policy documents outline the exclusions.*

Health insurance policy features:

  • Cashless hospitalisation: If you receive treatment at one of the hospitals in your insurance company’s network, you won’t be responsible for covering the associated costs.*
  • Day care treatment: Some insurance companies may only pay out on your claim if you’ve stayed in the hospital for at least 24 hours.*
  • Pre and post-hospitalisation services: Most medical coverage typically takes into account 30 days of pre-hospitalisation care and 60 days of post-hospitalisation care.*
  • Grace period: After the due date for your insurance to expire, the insurance companies may grant you a grace period to pay the premium in order to maintain the validity of their health insurance policy and continue to receive claim benefits.*
  • Portability: It is possible to switch plans only when it’s time for renewal. You must start the porting process at least 45 days before your current plan’s expiration date.*
  • Correction of complaint: Address any complaints you may have with your health insurance provider. The insurance company must acknowledge these within three working days. Additionally, you can contact IRDAI if you are not pleased with the insurance provider’s response to your problem.#
  • Claim settlement: Each insurance carrier has a procedure for handling claims, although it varies depending on the company. Therefore, it is advised that you familiarise yourself with your insurance provider’s claim settlement procedure. Make sure you are aware of the paperwork required to submit a cashless claim.* 

Health insurance plan types:

Various health insurance companies give many different kinds of medical coverage. Here are some of the standard plans:

  1. Individual health insurance: An individual health insurance plan is one that provides health insurance coverage to individuals.*
  2. Family floater: This type of health insurance covers the entire family and is also referred to as family health insurance.*
  3. Senior insurance: This health insurance plan was developed to give persons older than 60 years of age comprehensive health insurance coverage.* 
  4. Critical illness insurance: Purchasing this policy is advised if you are given a critical illness diagnosis.*
  5. Maternity insurance: This type of health insurance is set up to give pregnant women access to continuous medical care. Some of these policies include coverage for both the mother and the child.*

If you’re looking for a specific coverage, look it up on your insurance provider’s website or get in touch with its customer service.


So, which is the best medical insurance? This depends on your needs. It is advised to fully comprehend the terms and conditions of a plan before deciding to buy it.

* Standard T&C Apply

** Currently, there are 2 tax regimes in India – new and old. To get the tax benefit you desire, choose the correct one after consulting an expert. You can opt for a regime change during the next financial year.

# Visit the official website of IRDAI for further details.

## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply

Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale. 

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