Outlook Money
Buying health insurance online makes comparing plans easier, but premiums and coverage amounts don't tell the complete story. Certain policy conditions can affect how much you actually receive during a claim.
Some health policies restrict the amount insurers will pay towards daily hospital room charges. Choosing a room above the permitted limit can increase your out-of-pocket expenses.
Certain treatments, such as cataract surgery, may have separate payout limits even under a Rs 10 lakh health policy. Check these restrictions before selecting your cover.
Insurance websites may advertise benefits that differ from your selected policy. Check the issued document carefully, compare the terms and save screenshots, brochures and emails as proof.
Coverage for pre-existing diseases may begin only after a specified waiting period. Check how the insurer defines existing illnesses and when related treatments become eligible for claims.
A 20 per cent co-payment means paying Rs 20,000 yourself on an admissible Rs 1 lakh claim. Deductibles require you to bear a specified amount before insurance payments begin.
Read the complete policy document before finalising your purchase. You also get a 30-day free-look period to review the terms and cancel if they do not meet your expectations.