We all know the importance of health insurance in today’s date. It is a need for every family.
Also, the terms of the plan must be well understood. This article go through some of the common terms which every insurance provides which can be termed as essential terms for an insurance holder.
What is Health Insurance?
This is a Health Insurance term which is used in any critical insurance plan. A policyholder needs to survive for some more days after diagnosis of any illness. It is usually 30 days after the diagnosis of the medical condition after which a person can avail of the insurance benefits.
Tie up with hospitals
The health insurance companies have a tie-up with various hospitals in order to avail the insurance plan during the illness. The insurance holder needs to take the treatment from that specific Hospital in order to avail of the insurance benefit.
Pre Existing illness
The preexisting health problems are those illnesses that occur before you purchase any insurance plan. Insurance provider usually does not take into account this illness.
They usually provide the coverage after 4 years of the insurance plan. If you continue your health insurance with the same insurance provider then only the insurance provider can take into account your pre-existing illness too.
The waiting time or waiting period is the time after which you can avail the insurance. However, in case of any emergency or any illness, there are also various options for emergency hospitalization which may be due to an accident, etc. In such cases, you need to talk to your insurance advisor and get your insurance benefit.
The tenure of the waiting period usually varies from a different organization providing but in all the average waiting time is nearly 1 month.
What are inclusions?
Inclusions are all those benefits that Health Insurance provides. Usually, all the inclusions are explained by the insurance advisor before you purchase the plan. Also, it is mentioned in the policy document as well.
What are Exclusions?
Exclusion is all that services that are not included in your health insurance plan. A few of the exclusion that is very common in all the health insurance plan in the government or private organization is the treatment of self-injury, AIDS, dental treatment, etc. All the exclusions are mentioned in the health insurance policy book. Hence, it is very mandatory to read everything before purchasing any health insurance plan.