Health insurance basics: cover, waiting periods and claims
Know the important health-policy terms to compare before buying or renewing cover.
Compare sum insured, room-rent limits, co-pay, deductible, network hospitals, waiting periods, exclusions, sub-limits, restoration features and the claim process. A cashless facility is subject to the insurer’s and hospital’s process; it is not a promise that every expense will be paid. Disclose existing conditions, keep policy records and renew on time so continuity benefits are not unintentionally lost.
Eligibility
Insurers set underwriting and product conditions. Family composition, age, medical history, location and policy type influence terms and premium.
Potential benefits
Health cover can reduce the financial impact of a medical event, but it should be read as a contract with limits and exclusions.
How to apply
Compare policy wordings and customer-information sheets, verify the insurer and network, complete proposal disclosures carefully, store e-cards and records, and notify the insurer within stated timelines when a claim arises.