How do I find the best health insurance plan?
The term ‘best’ is subjective. What one considers as the best might not be the most ideal option for another. Therefore, when comparing medical insurance policies, one should look for options that suit their individual needs in a cost-efficient manner .Of course, there are some basic factors that highlight a good plan that you must also bear in mind. These include high claim settlement ration, good number of network hospitals, wide choice of add-ons, and so on. The best plans will cover all these bases and, more importantly, ensure your individual needs are met as well!
What happens to the health insurance policy coverage after a claim is filed?
After a claim is filed and settled, the coverage of your medical insurance policy is reduced by the amount that has been paid out on settlement. For Example: In January you start a policy with coverage of Rs 5 Lakh for the year. In April, you make a claim of Rs 2 lakh. The coverage available to you for the May to December will be the balance of Rs.3 lakh.
However, if you have opted for the reinstatement option, the sum insured of your health insurance policy will be reinstated to the same value. Of course, reinstatement features needs to be added to your policy by charging prorata premium.