Renewing of health insurance policy is mandatory for every policyholder having either individual health insurance plan or family floater plan as it will help to continue the benefits.
Health Insurance plans are the backup or may call protector of people in some serious problems or illness which are life snatching and also have expensive treatments. Besides this, a right health insurance plan is like an assurance for the insured while he/she faces some kind of difficulties; there are lots of people in every country who dies or suffers with lifelong pains due of lack of support. It is a guide, a friend, a helper, an assurer, a good protector which means an overall coverage for insured person but still it is not enough to get fully covered and having all kind of money while in danger. Health is wealth and no doubt freaking for being healthy and fit is become a mania now-a-days; after advanced technologies and lifestyle people get affected easily. Now-a-days it’s become difficult to get a health insurance plan as the expenses are raising everyday and it also becomes difficult to get all the benefits in a low budget health plan. But it is also possible to get lower health insurance if premiums can keep lower, so one can adopt many measures, provide optimum coverage e without paying too much. There are various kinds of health insurance policies such as Individual Health Insurance Plans, Family Floater Plan, Children Insurance Plan, Car Insurance Plan, Mediclaim etc. But it is advisable to buy a policy for the parents or old persons of the house as it gill protect them in the time of critical illness or provide the expenditure while hospitalization. Though there are various terms and policies in every health insurance policy and various companies provide various additional benefits to their customer. ‘Health is the real wealth’ this is now just a phrase but neglecting health is becoming the reason of lots of problems including illness, tension, obesity, laziness and so on. But the treatment is very costly and builds up a huge burden upon the pocket of the earning people leading their life to a disaster or in the problem. There are many health insurance plans in the Indian insurance market offering various benefits and features for the buyers, these can be get in exchange of a little money and will warranty to give a better protection in the time of need.
Though finding a right health insurance plan is not easy for family as it must be awesome with a pocket-friendly premium and extensive coverage. But purchasing a right health insurance plan to protect the family is a liable step that should be taken in the right time but buying it is not enough as it is important to renew the policy every year. Renewing health insurance plan give many benefits which are addressed below:
Almost all the main health insurance companies have a waiting period of 30 days from policy origin after which one can get the benefit of the insurance coverage. And after renewing it on time insured can ensure that there is no irregular waiting period to get all the coverage of medical expenses.
When a person goes for claim on free year, then the person will get a No Claim Bonus of 5%.
Coverage like maternity benefits or pre-existing aliments generally has a waiting period of 3-4 years which start from the date when the insurance policy is issued. When the policy is not renewed on time, the waiting period starts again from the beginning time.