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 Maximum age for taking cover
The maximum age up to which a policy will be renewed is crucial at the later stages. You must take health insurance as early as possible to enjoy continuous cover and better premiums.
Exclusions
Pre-existing diseases are the most significant exclusions. They are those medical conditions, which are in existence at the time of buying a health insurance plan (underwriting). Pre-existing diseases pose a higher risk in actuarial terms and are usually excluded from the purview of both immediate and long term insurance coverage. Over the years however actuarial studies have come to rate diseases such as hypertension, diabetes etc; they are no more considered "pre-existing" and therefore covered and payable. Explains Kartik Jain: “Our policies cover pre-existing diseases after 2 years of continuous policy renewals.” Most other exclusions are uniform over companies.
The ideal age for health cover
Golden rule for buying a health plan is - as early as possible. Ujjaini Dasgupta, explains, that health insurance must be planned even before child birth, it is only then that congenital diseases familial, predisposing diseases and environmentally induced diseases can be addressed. This also ensures that in case you get with any major illness, one get best help without worrying about the expenses in today's high-cost medical system. This not only ensures health and intervention from the best medical practitioners but also a great peace of mind where one does not have to worry about expenses or the quality of the treatment.
When should you claim?
There are a host of advantages for having a claim-free policy, the most important being additional cover at the same premium, but the whole aim of health insurance is to provide for your medical expenses. However, you must make your claims reasonably. So, you should not make small claims. To select which claims are worth making, get the numbers right! Check if by making a claim, the no-claim bonus you forfeit and the 10 per cent of cumulative bonus cover you lose will exceed the compensation you get. If it does, it makes sense not to make a claim but pay for the expenses yourself? Claim only if the amount is on the higher side and you it makes sense to forfeit the no claim bonus. Also keep in mind that in the long term, it will reflect on your records and will the insurer will penalise you with an extra load on your premiums.
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