Does your mediclaim plan offer you the best health insurance with high coverage against the increasing cost of medicines ?
Due to increasing medical costs, buying online health insurance is not a choice anymore. Today, it becomes a necessity for all. But, adequate care is not taken while purchasing a mediclaim policy India. At times, insurance claims get disapproved because the insured person fails to offer all necessary details, most of the times because of ignorance and sometimes, intentionally.
Insurance business is based on the doctrine of utmost faith that needs the party buying health insurance mentions all relevant personal details. It means if person is applying for a mediclaim policy India, then he or she is required to mention all his or her occupation and lifestyle related information as well as any health issues you and your family members may have suffered.
Based on the given information, insurance service providers sell the coverage to customers. Understanding the clauses mentioned in a plan are not enough, you also have to know its span of coverage. Always fill the application form by yourself instead of telling your insurance agent.
Only signing the application and depending on the insurance agent to do the rest may prove costly in the future. Customers should understand that signing the form means declaring that they are agreed with all the clauses.
Declarations in the form are the basis o which the insurers underwrite plans, evaluate risks and estimate the premium to insure that risk. At the time of claims, insurance companies in India checks the authenticity of these declarations.
Suppression of facts or providing incorrect data is the two main reasons behind claim rejection. Below are some important information that must be mentioned in the application to avoid claim rejection:
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Personal Health
Addictive substances like alcohol and tobacco affect health adversely. Insurance companies in India must know about their client’s habits. The premium amount is based on frequency, consumption type, the duration for which person has been addicted and the quantity consumed. Based on the underwriter’s assessment, insurers can take a final call on whether to extend the coverage to such client and at how much premium.
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Medical History
It is another important factor to assess the long-term costs of funding healthcare. If you have any medical history, then don’t think twice to disclose it in application.
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Family History
Customers should know that medical history of you and your family is taken into consideration by the underwriter while giving coverage to them. Some serious illness of any immediate family member could make an insurer wary because some illnesses can be hereditary. Insurers consider this process carefully during the risk assessment procedure.
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Occupation
Occupational risk helps insurers to evaluate risk of accident and wellness. People who are doing sedentary jobs are more open to cardiovascular diseases. Work nature is important for assessment of risk in health insurance sector.
