We have already completed three months of a large part of the economy around the world under a complete lockdown. Most developed and developing nations have created brilliant examples of containing the spread of the pandemic. India has played a remarkable role in managing the same with imposing an evenly applied quarantine.
One noticeable change in the mindsets of people has been observed in the growing demand for an insurance policy that covers their health complications. Issues arising from an extended lockdown might be acting as a big nail in the coffin, but it’s not the only scenario. From monsoon floods to fires, volcanic eruptions, etc., the world seems to have witnessed it all. So, it has become evident that investing in a health insurance policy in India is of utmost importance. It is almost a necessity now and is getting included even in the most conservative savings plans.
If we focus on the following points, we get a clear idea about decision making while investing in a health insurance policy in India.
Type of insurance
There are different kinds of health insurance. While buying a policy, one must focus on whether it is catering to the exact need of the person. Here comes the problem: we don’t have a clear idea, and the broker tries to push inappropriate products for their own benefit. Here we suggest you download the IL Take Care App, which helps you with every little detail and helps ensure that you make the right decision.
Insurance health cover is dependent on certain factors. A person’s lifestyle, nature of the profession, current assets and liabilities, other stress factors, and physical and mental health conditions help determine the exact policy for him/her. A prospective buyer must consider all these factors while taking the final call to cover himself to avoid being under-insured.
It becomes crucial to determine the specific risks to get covered under an insurance. The recent quarantine has shown the helplessness of human beings irrespective of their financial and socio-economic status. So, we must reassess our risk factor to get a proper solution for us. IL Take Care App helps us to find the exact risk factors and the most suitable solutions.
Treatments covered or the extent of coverage
We have seen several occasions where a patient has health insurance, but the particular treatment is not included in the policy. We know that we can’t predict the diseases that’ll affect us. Sometimes the policy may even cover a specific disease treatment but the hospitalization, before and after surgery may not get covered. Thus, it’s essential to look for complete cover. With ICICI Lombard’s complete health insurance, you get access to a network of more than 5025+ hospitals.
Turnaround time for claims
One of the most important aspects is the turnaround time after the claim has been processed. Turnaround time is the time that companies take to process your claims. See, for a medical or health insurance the money is required instantly or within a brief span. Many providers have the cashless facility, where you can get the approval within 1 hour and the treatment can be initiated. But even if it is not there, it is necessary to confirm a minimum turnaround time to ensure the coverage comes handy.
Did we predict such a situation for 2020 where complete lockdown and quarantine could have taken a toll on the environment and economy? Most of the places around the world are still at a standstill. This has made people rethink their financial planning. It is necessary to keep a place for a health insurance policy for everyone in order to #RestartRight. But to buy insurance, a lot of parameters are there to understand the exact need of a person and buy the right plan for them. Anyone who is looking to buy a health insurance policy must know the perfect requirements and perfect fit policies for them. You can easily do that with the ICICI Lombard health insurance.
Once you have chosen a policy with ICICI Lombard you use the app to access all the benefits.
Simply click the link to download the app and enjoy the insurance & wellness features.