While buying a plan from a particular insurance company, most of the buyers look only into minimum premium plan with less focussing on the coverage features. Sometimes buyer is too pushy to get lesser premium from the insurer or the insurer did it to reduce their loss. This may result in no benefit of coverage or wastage of the policy. And it would experience the policyholder during medical emergency.
Here are limits and restrictions levied in the health insurance:
1) Daily-wise Cash Limit
Insurers talk about lots of cash benefits at the time of purchasing policy, but there is limit set on daily basis. Policyholder should also make sure this limit.
2) Sub-limit Set for Disease and Procedure
Health insurance policy also has some limit set for the disease and other procedure. So policyholder must aware of the coverage set for this benefit. At the time of buying insurance policy, if customer wants to get more coverage, they may select plan with more add-on options.
3) Hospital Room Rent Limit
If the customers are not aware of the coverage include in the health insurance policy, they have to pay some or full percentage of bill amount. Make sure the coverage plan and select with this coverage option.
4) Co-pay
The policy plan, discussed at the time, may talk about coverage of all health factors. This may sound attractive but later customers have to pay some or maximum percentage of total bill. So one should take care while purchasing the policy and should read all the benefits and coverage mentioned in the document.
5) Geographic Restrictions
Some insurers cover only some particular geographic area and deny offering coverage in other area or territory to reduce premium. This can cause severe issues in case if any family member or loved one is in another geographical region. Customers are not aware of such kind of restriction. They have to make sure about such term.
6) Renewable Age Limit
Insurers also offer renewal for lifetime, which may be a doubtful term for the customers. They should clear the term at the time of renewable.
Here are limits and restrictions levied in the health insurance:
1) Daily-wise Cash Limit
Insurers talk about lots of cash benefits at the time of purchasing policy, but there is limit set on daily basis. Policyholder should also make sure this limit.
2) Sub-limit Set for Disease and Procedure
Health insurance policy also has some limit set for the disease and other procedure. So policyholder must aware of the coverage set for this benefit. At the time of buying insurance policy, if customer wants to get more coverage, they may select plan with more add-on options.
3) Hospital Room Rent Limit
If the customers are not aware of the coverage include in the health insurance policy, they have to pay some or full percentage of bill amount. Make sure the coverage plan and select with this coverage option.
4) Co-pay
The policy plan, discussed at the time, may talk about coverage of all health factors. This may sound attractive but later customers have to pay some or maximum percentage of total bill. So one should take care while purchasing the policy and should read all the benefits and coverage mentioned in the document.
5) Geographic Restrictions
Some insurers cover only some particular geographic area and deny offering coverage in other area or territory to reduce premium. This can cause severe issues in case if any family member or loved one is in another geographical region. Customers are not aware of such kind of restriction. They have to make sure about such term.
6) Renewable Age Limit
Insurers also offer renewal for lifetime, which may be a doubtful term for the customers. They should clear the term at the time of renewable.
Thanks for sharing the blog, seems to be interesting and informative too. Features of health policy
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