GENERAL INSURANCE BLOG

A health insurance policy is meant to save you from the financial impact of a sudden illness, accidental injuries, and critical diseases. It also works as a legal contract between you and the health insurance provider to bear the costs of hospitalization, doctor’s fee, and other medical expenses.

But, there are many unique provisions of general insurance in india that can be difficult for a layperson to grasp. But thanks to the internet, it's simpler now to understand many confusing concepts.

You can explore and browse through YouTube videos that lucidly explain every important term at your own convenience.

If you're left wondering which videos to watch, here are our top five picks:

1. HTTPS://WWW.YOUTUBE.COM/WATCH?V=W4ZWXBQRO-I

This is a video from Indianmoney.com, where they explain the best methods to find a suitable health insurance plan. The video tells you how to look for the maximum coverage on your insurance policy and how add-ons can help you in the future.

They also inform you about other important things like clarifying with your insurer about coverage for certain pre-existing diseases when taking a policy with a lesser waiting period to ensure you go in completely informed while buying your first policy.

2. HTTPS://WWW.YOUTUBE.COM/WATCH?V=X86NLVV6ERE

This link from My Insurance Club talks about the different types of health insurance policies available to us. It broadly divides all health insurance policies into two and then further talks about plans specific to your needs such as critical illness plans.

The video explains the type of policies with the help of examples that relate to real-life scenarios.

3. HTTPS://WWW.YOUTUBE.COM/WATCH?V=DBTMNM8D-84

This video from Consumer Reports explains the costs related to health insurance. Here, they explain deductibles, premiums and out-of-pocket maximums which are applicable to various health insurance plans.

You must have read or heard about these terms with regard to medical insurance policies. In this video, you can understand them better with in-depth explanations and visuals. It helps you to make better sense of health insurance in India and how your plan helps you.

4. HTTPS://WWW.YOUTUBE.COM/WATCH?V=9H-VSFU_B_Q

This is a YouTube video from Consumer Reports which is a quick guide to picking the right health insurance for you. The video tells you factors to look for while looking for health insurance. These may include services such as OPD or even ambulance fees. 

5. HTTPS://WWW.YOUTUBE.COM/WATCH?V=ZZAYPKW6W-G

This video from My Insurance Club talks about the major benefits of buying health insurance. These include cashless services, hospitalisation coverage etc. Check out this video to make sure that you are making the best of your plan.

These are some of the best YouTube videos related to various concepts of health insurance. Go through them to know your options better when choosing a plan for you and your family. 

Given the problems we still face as adults today, educating your kids about being responsible consumers is always a great idea. If you prepare your child with good planning skills now, they’ll be better prepared to face financial challenges in their adulthood.

So, here are some facts about health insurance policies for families that you can use to help your child understand what health insurance truly stands for.

1. Health insurance is essential for everyone

Who could need health insurance? The answer is every individual on this planet. Hence, it is extremely important for your child to know that the benefit of health insurance is invaluable at any stage of your life. No matter what your age is, the future remains unpredictable. This is an important lesson in itself which must be impressed upon your child.

2. The types of health insurance

Getting health insurance should always be an informed decision. In order for that to happen, one must be aware of the options available to them. These options could range from individual and family floater plans to special covers available such as critical illness and maternity care. The idea is to familiarise your child with these for when they do have to make the choice for themselves.

3. The plan can be updated with needs

When it comes to health insurance, many people tend to set it and forget it. And some think that the plan is set in stone - once you've bought it, you're stuck with it. But that's not true. It's important to teach your child that they can and should customise the policy according to their evolving needs. These may include risks that come with age or including your new family in the plan.

4. The importance of reading the policy wordings

Before signing up for any kind of insurance, you must be familiar with what all you are getting with it. No one likes to go through heavy and technical information but it helps you make informed decisions later. So it's important that you encourage your child not to ignore the policy wordings as it'd tell them about their policy's coverage as well as terms and conditions.

5. Health insurance is a necessary expense

In a world with rising expenses, how is one to determine what is worth investing in? Teach your child that health insurance might seem expensive while purchasing but helps you save more than that in the long run. With the rising cost of medical care, having health insurance would be even more important in the future.

Before your child grows up, it is crucial to prepare them with the best knowledge and resources.

Health insurance is one of the most significant things you can teach your child about to ensure a safer future for them.

Health insurance in India is a necessity in contemporary times as it takes care of your finances in case of any health emergency with the help of a single policy. That being said, even the most comprehensive plans come with some exclusions. These are mentioned in your policy document and are often standard for all insurance providers.

You can make the best of your policy only if you know its coverage as well as exclusions. So, here are some you should definitely know of before you sign up for a new plan:

Waiting period

The only risks your health insurance covers from day one are injury/ hospitalisation claims due to an accident. Other than that, all other medical conditions have a waiting period after which you can make a claim. For common ailments, the waiting period is between one to three months from the inception of the policy, whereas the more serious diseases are excluded from coverage for as long as the first year.

Pre-existing conditions

You must have been told repeatedly that making a full disclosure of your health status is essential to get the right coverage. The reason behind this is a standard exclusion which says that all pre-existing diseases have an exclusion period stated in the policy wordings. Falsifying or hiding critical information can render your policy void and will inevitably leave you hanging in the future.

Lifestyle diseases

While these have not always been a concern, the drastic change in our environment and daily routines have made this a necessary part of healthcare. Unless specified at the time of availing the policy, all lifestyle-related diseases arising from smoking, alcohol consumption or drug abuse are excluded from a health plan. You would either have to pay a higher premium or be denied coverage in cases involving such ailments.

Alternative remedies

Most insurance companies are only slowly warming up to the idea of alternative treatment options. Treatment systems such as Ayurveda, Naturopathy and Unani have conventionally been excluded from health covers due to a lack of support from the medical community, which makes it difficult for insurance companies to accommodate.

However, some insurance providers are beginning to recognise these treatments now and are providing optional benefits which you can opt for to get coverage for them.

Maternity and childbirth

Maternity benefits are an integral part of any family health plan. This includes the medical expenses incurred for childbirth, infertility treatment or even abortion. In most cases, you would have to opt for a specialised maternity plan which is subject to a waiting period. Hence, it is a great idea to keep your family's future in mind while picking your policy.

Cosmetic treatments

While your health insurance policy may mention coverage for all hospitalisation, treatments such as plastic surgery, laser treatments, weight loss programmes, liposuction, eye and dental procedures are excluded from this cover. The exception to this rule is cosmetic procedures after an accident as they are critical to the functioning and well-being of a person.

To conclude, when looking for the best health insurance policy in india , remember to get details of all exclusions and waiting periods from your insurance agent or the policy wordings available to you. After all, the unpleasantness of reading that massive policy document sure beats being caught in a lurch while making a claim.

All of us are extremely lucky to stay in a nation as diverse as India, which has a plethora of climatic changes to offer and support its citizens. However, the past few years have been quite a difficult journey for all, as a series of natural disasters that occurred in and around the nation. From the cyclone in Andhra Pradesh to the floods in Jammu and Kashmir, Uttarakhand and Chennai, to the more shaky issues like the earthquakes in Nepal and North East India, all have caused considerable losses to lives and properties. Instances like these are a colossal knock for people who haven't yet browsed through the Best Home Insurance In India since they can provide adequate cover for various physical properties and homes.

A considerable mark of an effective home insurance plan is that it has all the required components to reduce the financial stress that you may face at points of distress in your life. It ensures that, no matter what the mishap is, you can protect your home against the most brutal natural disasters like typhoons, floods, earthquakes, and landslides, to name a few. Home insurance also plays a vital role in covering against explosions and dire consequences.

Not just natural, but there are some manmade issues like theft, robbery, and terrorism against which home insurances are useful in protection and here is what the best home insurance in India will protect you from, and aid you in: -

• Personal assets Articles such as furniture and clothes, household equipment, among other things are all covered even if natural forces like floods and earthquakes have destroyed them. Any home insurance policy will cover these items. More valuable products like jewellery and art, along with some silverware and collectables, are only covered within a specific set limit. The best home insurance in India is usually a complete package that takes care of your home against fires, natural disasters, and human damages like thefts, a burglary that may have caused a loss of household goods. It also covers personal accidents that may have occurred due to their negligence.
• Infrastructural needs Home insurance policies cover all expenses that are associated with repairing or rebuilding the home if it gets damaged or destroyed due to an excruciating circumstance. This helps you ensure that the damage caused to your infrastructure can be repaired without exerting any additional pressure on your finances.
• Premium Any premium of home insurance depends upon the selected sum, which has been insured of the structure and content. Usually, the structuring of the house depends upon multiplying the area of the structure in question with the total cost of creation. The values of the contents are calculated following the market value. All the benefits that you expect, along with various features, are all provided according to the home insurance policy taken by you.

These are some of the most important benefits which can be enjoyed by all those who take a home insurance policy. There are varieties of options available out in the market which provide the customer with adequate freedom to choose the open of their choice, from the diverse options provided with a plethora of features.

The global pandemic has hit everyone hard, in terms of health and economy. But, more importantly, it harmed our mental health severely. Completely locked and confined to home for several months has led to some kind of depression to a large number of people. In these ongoing months, there are many reported cases of anxiety among various age groups. To overcome, we must focus on and prioritize our mental health first. This is also advised by the best health insurance company in India.

Below are some of the useful tips that will help you to avoid mental health issues:

• Focus on your diet

A balanced and nutritious diet is the need of the hour. To fight the deadly COVID-19, it is advised that you boost your immune system. One can boost their immune system by consuming essential vitamins and other macronutrients.

From various studies, it is concluded that complex carbohydrate-rich food like pulses and nuts can make you relieve from unnecessary stress. The inclusion of fruits daily in your diet is advised by the best health insurance company in India.

• Be Creative

You have now got all the time you always craved for. So, why waste it? Focus on your hobby now. It is important to engage yourself on something as it will help you divert your mind from reality. The whole day long, being confined to your home is not easy. But if you make a habit of doing what you like, then it will make you feel relaxed.

• Stay Fit

Fitness is essential, not only to control obesity but also to boost your immunity as prescribed by the Best Health Insurance Company In India . Since you cannot go out for a walk or gym, then you need to work out at your home. Go for some practical freehand exercises. But, do perform them if you feel suitable and do not overstrain yourself. 40 minutes of exercise once a day can be a stress buster and help you concentrate on the functional aspects, ignoring the negativity

• Maintain your Sleeping Cycle

It is hard to maintain the sleeping cycle when we don’t have the rush to wake up in the morning. Either we watch movies all night long or overthink, which is stressful and can also lead to severe anxiety issues. To overcome this problem, it is better to sleep at a proper and fixed time.

It is always advised to sleep before midnight and wake before 8 am. It will help you to have a better metabolism and grow your immunity. The significant impact of it will be to reduce overthinking and soothe your mental health. Proper sleep, at least 8 hours, will make you much more productive.

• Socialize Online, Not Offline

It is advised that you socialize with your friends and other acquaintances often. Socializing is an essential factor that will make you open your heart and relax. Stay connected and always help them out. Also, ask for help in any matter, whether you want to talk out or need something.

Also, do cut off toxicity around you. Avoid them merely by cutting them off from your contact. To keep your mental peace, you must avoid some people.

Conclusion

So here are the critical five tips that will keep you satisfied and happy in the long term. Buying insurance for your health needs from the best insurance companies in India is important as they pay very much attention to mental health. This year is getting worse, but do remember every cloud has a silver lining. It will pass soon, so hold yourself up.

The Insurance Regulatory and Development Authority of India (IRDAI) has extended the privilege of porting health insurance to all policyholders since 2011. What this means for you is that at the time of renewing your policy, you have the option to change your insurance provider.

Wondering how that works? Keep reading to find answers to the most common concerns about porting insurance in India.

Can you port your policy without losing benefits?

Some of the advantages of porting your health insurance policy is finding affordable premiums or better policy features without compromising on the continuity benefits of your policy. In other words, it helps you in your journey to find the best health insurance policy in india .

For instance, say a medical condition wasn’t included in your health insurance policy for the first two years due to a waiting period of 3 years. In this case, the two years from the earlier policy will be reduced, and you’ll get the waiting period of one year on the new policy.

How much time do you need for porting?

Typically, you can port a health insurance policy within 45-60 days of the date of expiry. However, it may change from insurer to insurer. The rules of porting not only apply to the policyholder but the insurer as well. Hence, the new insurer should respond within 15 days of receiving your portability request.

What documents do you need for porting your health insurance?

If you do decide to switch your insurance provider, you will need the following documents:

1. The policy documents issued by your existing insurer

2. Information specific to the renewal of the policy

3. A self-declaration if no claims were made in the previous policy

4. For claim settlements, send discharge summary, investigation report, and other related documents as a proof

Why should you port your health insurance to Magma HDI?

The OneHealth insurance plan from Magma HDI is a comprehensive policy that offers you protection from the financial liabilities of healthcare, offers discount options for your premium and gives you the options of add-ons such as a critical illness cover to leave you completely worry-free!

Here are some other features offered by the policy:

1. 24x7 claim assistance

2. Cashless hospitalization across 4100+ hospitals

3. It also offers as many as 16 key benefits such as loss of income cover, maternity cover etc.

Process for porting your health insurance policy to Magma HDI

If you want to port your existing health insurance plan to Magma HDI, you should do it within 45 days before your policy's date of renewal. Given below is the process behind successfully porting your insurance-

1. Ask for a portability form from Magma HDI or fill the form online. Provide accurate details in this form. The company’s team of underwriters will cross check your details with your current insurer within 7 days from submission.

2. This information goes to IRDAI where your existing insurer will also give the details about your coverage and claims in a prescribed format.

3. With these details, the underwriting team at Magma HDI will have access to the history of your plan. They will make a proposal according to the company’s underwriting norms.

4. The team at Magma HDI will then send across the proposal to your existing insurer within 15 days. The last step is the acceptance of the proposal by your existing insurer.

So, this is how you can easily port your health insurance policy to Magma HDI. Check out their website for more information on their OneHealth policy.

The end of 2019 had brought forward a deadly virus that is still haunting the world, the COVID-19. Since we are still lagging in getting a proper vaccine for this virus, the situation is causing more and more adverse effects, even fatality.

In the case of treatment of COVID-19, best health insurance in India covers pre and post hospitalization expenses, including in-patient and out-patient expenses. Yet it is best if we could prevent it from the first occurrence just keeping ourselves well protected.

COVID-19 might have paused our regular daily routine for a few days, but we are getting back on track with our professional commitments. In such cases, getting proper protection has become inevitable to keep ourselves safe.

So here are 6 ways to reduce the risk of contracting COVID-19 while commuting to work:

1. Using Personal Protective Equipment (PPE)

Whenever you step out of our house, you must gear up with proper personal protective equipment, like masks and a pair of gloves. This protects us from getting in direct contact with the virus by shielding our most prone parts of our body, like hands and mouth.

You should also carry an extra pair of disposable gloves and mask for an emergency. Try not to open PPE at all while you are outside. It would be best if you washed the mask properly in case it is reusable. This ensures our safety.

2. Using Sanitizer

The use of sanitizer is one of the essential precautionary measures. It would be best if you always carried a sanitizer while going out and use it whenever you contact any other substance or any other person. Sanitizers kill the virus before it starts harming our body. It is better to use sanitizer just before and after a meal is a must.

3. Eating Safe

Eating unpacked, and street food increases the chance of coming in contact with the virus. So, it is safe to either carry your food or any packed items. Food prepared in the house must be washed well before cooking.

You should only purchase foods from outlets that follow the proper protocols of WHO. Some of the best insurances of India encourage its policyholder to eat safe and eat healthily.

4. Maintaining Social Distance

Whenever you travel, you must maintain social distance. Keeping a safe distance from other persons reduces the chance of getting in direct contact with the virus. It would be best if you avoided public transports that are too crowded. Instead, travelling in private vehicles minimizes the chance of infection.

It would be best if you also kept a decent distance from people who are continually sneezing or coughing. Crowded places are always the den for spreading the virus. The Best Health Insurance In India insists its policyholders on maintaining social distancing.

5. Avoiding Any Physical Contact

Public places are prone to contamination by the virus. Please do not touch any unmanned items, walls or railings as that can increase the chance of coming in contact with the virus. So, before you get in contact with such places, it is a must first to disinfect the surface properly.

6. Spread Awareness

While travelling, if you find a person without wearing a mask, make him/her aware of the same. We must stand in a safe distance and insist others to maintain distance too. Being a responsible citizen, you must always spread awareness about the current situation. Not wearing a mask outdoors might result in legal charges and consequences.

Summing up

While travelling to your workplaces, you must always maintain the above steps. These will keep you away from coming in direct contact with the virus. Social distancing, using personal protective equipment and sanitizers are some of the crucial things you should practice regularly.The best health insurances in India always promotes all of the above steps for the betterment of their customers.

The monsoon is a welcome change for many from the scorching summer heat. It brings promises of new life with itself. Thus humans often greet this season with open arms.

But sadly the bacteria and viruses enjoy this season as well. So we need to keep an eye on our health and take the necessary precautions to stay safe. But with the growing number of diseases due to various viruses in this period, one should also consider health insurance plans in India to keep their family protected.

Here are a few simple health tips for the monsoon that every person must take up to stay fit and healthy.

1. Increased intake of Vitamin C as it fights against any deadly virus:

• Monsoon is the time where viruses and bacteria thrive the most.
• A rich vitamin C diet, including oranges and green vegetables, can help increase the immunity against such diseases.

2. Avoiding junk food:

• The streets are filled with puddles and potholes. These are home to a vast number of microorganisms.
• Street foods, which are sold openly on the streets, are often exposed to these harmful microorganisms.

3. Not storing stagnant water:

• Mosquitoes are born in stagnant water. They are carriers of a vast number of diseases.
• One must also ensure that drains are not clogged, and rainwater is not stored in any part of the house.

4. Adding disinfectants in bathwater:

• Most people like to walk in the rain. But bathing at least twice a day can do away with any health problems.
• Use of disinfectants in the water can protect from the various microorganisms and keep one fit.

5. Using ironed clothes:

• Clothes stored in wardrobes often get cool with the damp from rain and lack of sunlight. Wet moisture causes molds
• Ironing the clothes before wearing makes them free from these fungi besides giving a stylish look.

6. Having well-cooked vegetables and fruits:

• Fruits and vegetables skins are home to several germs.
• They need to be adequately washed in running water before cooking them to stay safe from water-borne diseases.

7. Enough sleep and exercise:

• 7-8 hours of sleep is mandatory for an individual to create immunity and prevent various diseases.
• Regular exercise can keep the body in perfect shape and build immunity against various diseases.

8. Avoiding touching the eye:

• Eye infections like conjunctivitis, dry eyes and corneal ulcers are common during these times.
• In case of any irritations, doctors should be consulted. There are some health insurance plans in India which can cover the cost if required.

9. Maintaining hand hygiene:

• Washing or sanitizing hands properly before having food is a must. It kills all the germs.

10. Precautions against mosquitoes:

• In-home, mosquito coils or tents should be used to stay safe from mosquitoes.
• Several health insurance plans in India now deal with diseases caused due to mosquitoes. Hence these should be considered.

11. Clipping nails:

• Bacteria and germs often accumulate underneath nails. So they should be clipped at regular intervals.

12. Protection against allergens:

• Allergies can become severe during this season.
• Wearing masks while going out and carrying anti-allergy medicines are a must.

13. Not using wet shoes:

• One should not be wearing wet socks and shoes as pathogens may grow.
• Keeping an extra pair of shoes might be beneficial.

14. Staying clear of damp indoors:

• Damp walls are home to the growth of fungi.
• People having asthma or breathing problems should stay away.

15. Keeping distance from sick people:

• Many people catch the flu or cold during this time. So it's better to keep a distance from them.

The monsoon usually lifts the spirits of many but often makes the health vulnerable. With some essential precautions, one can stay fit. One can even take the help of Health Insurance Plans In India so that even when you fall ill, you can deal with the situation effectively.