Health Insurance

  • Ans

    Yes, in March 2006, Pradhan Mantri medical insurance scheme was launched as Pradhan Mantri Swasthya Suraksha Yojana (PMSSY). The scheme was launched with the objective of providing affordable medical facilities to various parts of the country, especially rural India.

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  • Ans

    By getting yourself covered under Allianz Overseas Students’ Plan, you can avail the following benefits:

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  • Under health insurance, there are generally two categories of deductibles: High deductibles and low deductibles. The deductible is the amount that the policyholder pays out of his/her own pocket before making a claim in the event of hospitalization. Let’s take a scenario to understand it better. The policyholder has chosen ₹1,000 as his/her deductible. Now in the event when the policyholder is hospitalized and the claim amount has come up to ₹10,000, s/he will first pay ₹1,000 and then make a claim.

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  • Mediclaim is a financial protection to individuals in the event of medical emergency. The policy gives reimbursement against the cost incurred on any of the pre-specified illnesses and surgery. Any individual is eligible for a mediclaim policy. However, if the individual is not an earning member, s/he needs a proposer to purchase the policy on his/her behalf. An individual plan and a family floater plan are the two major categories of medical insurance.

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  • Ans

    Health Insurance has begun to gain a lot of importance in today's time. The awareness of buying a Health Insurance has increased between individuals due to the change in lifestyle and food habits that we follow, many individuals are prone to various diseases. Buying a Health Insurance or Mediclaim can protect you against the financial losses incurred due to a Hospitalization. 

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  • Ans

    Pre-existing diseases are those medical conditions which existed even before purchasing the insurance. High blood pressure, diabetes, asthma, cancer, etc. are some of the common pre-existing diseases which are to be declared at the time of purchasing a policy. Different insurers have different policies and while most policies have a waiting period of 48 months, there are some with a lock in period of just 24 months. Customers with pre-existing conditions are advised to compare and shop extensively to find a more suitable policy.

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  • Ans

    Yes, there is a waiting period of 30 days for a new policy, starting from the policy inception date, for any hospitalization, except any emergency hospitalization caused due to accident.  Besides, there is also a waiting for period for pre-existing diseases which varies from company to company. In most cases the waiting for pre-existing disease is 48 months.

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  • Ans

    There is a variety of health insurance products available and not all products are suited for your needs. Similarly, determining the appropriate amount of health insurance cover is vital as our requirements differ and priorities change from time to time.

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  • Ans

    Modern lifestyles, unhealthy eating habits, hectic schedules, etc. are contributing to a number of diseases and health hazards. While changing the lifestyle seems to be a task, arranging finance for health care has turned into worldwide concern. While US is making all possible efforts to reform HealthCare law, India too is waking up to importance of Health care insurance.

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  • Ans

    Health Insurance is a coverage that pays for the insured’s medical and surgical expenses, arising out of sickness or injury. It is an important tool considering the rise in health related issues, increasing healthcare costs and the financial security it offers during a medical contingency.

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