We have made every effort to calculate and provide accurate premium and benefits. However, the premium as calculated finally by the concerned insurance companies at the time of proposal will be applicable and final.
Health Benefit Policies
Health policies Sold by LIFE Insurance Companies pay fixed amount as per policy, regardless of the expenses incurred. The actual expenses may be more or less.You can claim even if you have already claimed from health insurance with a general insurance company.The premium can be paid as monthly, quarterly, or annual basis.Need to wait 90 days before any claim can be made.Premium is generally fixed for three years - after that, it may change.The policy term is generally for longer duration, 10 years or even 15 years.You can return the policy within 15 days if you decide that you do not want the policy.There may be life insurance component and may or may not have maturity benefit.
Tips for Health Benefit Policies
Hospital Cash Benefit:
A daily hospital cash allowance policy helps you in getting a fixed sum of money per day of hospitalisation (for example Rs. 1000/- per day of hospitalisation ) irrespective of the amount of expenditure actually incurred during the hospitalisation.
This is the total benefit amount for which the policy is taken. If this is an annual policy it will have a limit on the number of days (or the amount) that can be paid for every year plus some policies may also have a life time limit across the years for which the policy will continue to be issued.
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