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Demystify Health Insurance Hangout – Queries and Answers (II)

Our Google+ Hangout on Demystify Health Insurance aimed to clear every doubt that viewers had about health insurance, regardless of the company offering it. However, due to time constraints, not every query could be answered live. That’s why, we decided to compile a list of every query that was submitted to us during and before the Hangout, along with the answer to each.

This is part 2 of the list. You can read part 1 here.

Q. What all points to be noted before purchase of an insurance plan?

-  Shika

A. The coverage offered, the sum insured range, the premium, the service standard of the insurance company.


Q. What will the health insurance policy pay for and when?

- Manobala

A. The health insurance policy pays for hospitalisation of the client in the event of hospitalisation.


Q. How much health insurance should one have? As in, if my annual income is 6L, then my health insurance amount should be how much? They say that life insurance should be at least 10times annual income.

- Sushma

A. Life insurance eligibility can be decided based on the liabilities and income, however when it comes to health insurance the risk is unpredictable. You should decide a suitable coverage based on the geographical area, type of hospitals you prefer, the age, and the health status. We should ensure that we are adequately covered for Illness, accident and the critical illnesses.


Q. What factors should I be aware of before selecting a health insurance plan?

- Sripriya

A. The coverage offered, the sum insured ranges, the premium, and the service standard of the insurance company.


Q. Why don’t you have restoration of sum insured kind of a product?

- Varun Khanna

A. We have come up with up new product which offers restoration of sum insured.


Q. You have a unique product called Women Critical Illness Policy. Why is it not marketed aggressively?

- Harshavardhan Bhusari

A. A this is a unique product covering women specific diseases, we are marketing this product through our agents, and bank partners having women specific accounts.


Q. How do you plan to approach the rural market where customers can avail hassle free cashless facility?

- Shihab

A. We have a wide range of 3700 hospitals with wide spread in tier 2 and tier 3 cities as well. In India the treatment facilities are limited in rural areas and usually, people approach the tier 2 cities or metros for treatments.


Q. Health insurance products according to me are as complex as a life insurance product, this requires someone to explain the benefits. Do you think online selling of health insurance policy is the way forward?

- Sam K. Kuriakose

A. Yes, the policy wordings and the brochure information are simplified for a layman to understand and in case of any doubts the client can always get back to our customer service executives.


Q. Surgical Protection Plan is a good cover as it can act as a top up cover on the existing policy. Please explain as to how you came up with this idea?

- Sam K. Kuriakose

A. We have researched on the current health scenario in India and have found that the surgical expenses formed 46% of health insurance claims and there is increase in the same due to advancement of technology and new procedures and equipment coming in. Thus, there is a need of such a product which extends specific covers in terms of procedures and coverage.


Q. I suggest that insurance companies should have different packages with specified diseases covering hospital and daily medical expenses. This way customer will have option to choose from the available package depending on his/her need and also premium will vary depending on the option selected.

- Ranjith Kumar Polimera

A. Recently we have launched a new health policy, the Surgical Protection Plan, which covers specified procedures with specified fixed amount for each procedure. About 600 surgeries are covered under this policy. Please visit our website for details of the product.


Q. Is there a one stop shop for all health insurance related queries? Like a comparison tool of health insurance available, what is covered and what not. Any online site which will provide all this information?

- Kunal

A. You can always get in touch with our agents, advisors, or call our toll free number for any health insurance related queries. You can also check our online website for further assistance.


Q. Hi, should one have accidental insurance when you already have a health insurance and top up cover?

- Vishal

A. Yes, Personal Accident policy covers the disabilities and loss of income due to accidental injuries, these expenses are not covered under standard health and top up policies. Personal Accident policy is a must to have a comprehensive cover.


Q. What is a critical illness cover, and should one buy it over and above his health policy?

- Brjesh

A. The critical illness policy pays a lump sum amount on diagnosis of any of the listed illnesses, so that you can plan your treatment out of the benefit amount. Unlike this policy, the standard health insurance policies do not cover the life style modifications and long term care, but if you have a critical illness policy you can take care of the same and lead a comfortable life. You can even plan the treatment abroad with the benefit amount.


Q. How to get your health insurance claim settled quickly? As per recent scenario of overall health competitions, we have to settle health claim within three or four days. As per my concern, if possible then we have to arrange scanner for the health coordinator with respective locations. So they are directly uploading all documents in hub module and claim will settle within three or four days. We can give better and fastest service in health industries. It’s also helping us for marketing point of view.

- Shirish Ranpara

A. We have an image based claims module, where the claim documents are scanned and uploaded on the module. Claims are processed on the scanned images, which has definitely improved the TAT’s.


Q. Is there a one stop shop for all health insurance queries? Any online portal where all basic questions are answered, like a calculator, a comparison tool which highlights what’s covered and what’s not, what’s the previous claim number settled by the company?

- Kunal

A. You can always get in touch with our agents, advisors or call our toll free number for any health insurance related queries. You can also check our online website for further assistance.


Q. Want to know more about health insurance.

- Sandip Sultania

A. Please visit our website to get detailed knowledge about health insurance policies, coverage, exclusions, etc. You can have an online chat or call our toll free no. for further assistance about health insurance policies.


Q. A lot of players in your industry are looking into selling insurance through ATM’s. You can also look into cashing in this avenue with your NTU’s.

- Zyphyr Jerome Nazerth

A. This a good idea, however health insurance policies require detailed information about the person’s health, etc., which may be a challenge.


Q. Would appreciate to know how deductible works.

- Mohit S.

A. The deductible is the amount which has to be borne by the proposer, the insurer is liable for the claim amount over and above the deductible amount.

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Published on:20 May, 2014

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