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What is Health Insurance Claim

November 28, 2020

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What is Insurance

Every day we hear about Insurance, Insurance company, Term Insurance, Mediclaim Insurance, Property Insurance, etc. However, what insurance really is. This article will give you an insight about the word Insurance, its meaning and its use. Insurance is a tool for protection from unexpected losses. It is an arrangement or a system by which a company provides / agrees to provide compensation against the insured event. The insured event may be death, disability, illness or any specified loss, etc. It is an agreement between the insurer and the insured, where the insurer is the company, which provides insurance while the insured is the person who wants to be insured against any unwanted event. Some of the basic terms of Insurance are as follows: - * Insurer: The Company, which provides insurance coverage, is called as the Insurer. * Insured: The person who intends to purchase an insurance policy for securing his own life is called as the Insured person. Anoth...

What is an Insurance Claim

All the insurance companies are bound to pay claims if fallen within their policy’s terms and conditions. An insurance policy is an assurance of compensation to the policyholder due to occurrence of the insured event. So what is an Insurance claim? An insurance claim is a compensation request made by the policyholder to the insurance company for loss suffered due to a specific event that is insured. For making a claim, the policyholder needs to intimate the insurer about the occurrence of the insured event. The insurance company then registers the claim against the said policy and call for relevant papers or documents. The insurance company credits the claim amount to the policyholders account upon verifying and processing all the relevant documents. Types of insurance claims are; · Health Insurance Claims A formal request submitted by a policyholder to the health insurance company for payment of medical expenses incurred for hospit...

What is Health Insurance or Mediclaim Insurance

Health Insurance or Mediclaim Insurance is now a days a very common term which we hear from people around us. Rising medical treatment or healthcare costs have made people think about buying Health insurance policies. A person without a Health Insurance or Mediclaim policy can suffer financial setback if hospitalized for a major treatment. Arranging funds during such times becomes an uphill task but a health insurance or a Mediclaim policy can protect you from this financial crisis. However, what is Health insurance or a Mediclaim insurance? So here, we try to answer all your queries in a systematic manner so that you will get all the information related to Health Insurance or Mediclaim Insurance. Health insurance is a type of insurance, which covers your expenses related to hospitalization due to injury or illness. It is a type of insurance that covers the cost of all medical, surgical, medicinal and doctor’s charges. Health insurance is a tool that protects an individua...

Do's and Dont's while buying a Health Insurance Policy

A health insurance policy is the most important thing that protects your finances during medical emergencies. There are many insurance companies offering different types of health insurance policies. These policies are available for almost all age groups in the society. Buying a health insurance policy becomes a difficult task for a person as there are different types of policies with different types of terms and conditions, exclusions, sub limits, etc. one should be careful before buying a health insurance policy. There are certain do’s and don’ts that one should keep in mind before buying a health insurance policy. DO’s · First, understand your need for a health insurance policy. One should ensure to buy a policy with substantial coverage (Sum Assured) if you wish to buy the policy for your family. · Go for a plan that offers comprehensive coverage such as hospitalization, pre & post hospitalizat...

Things to know before buying a Health Insurance Policy

Things to know before buying a Health Insurance Policy Choosing the right health insurance policy for you and your family becomes a difficult task when there are a lot of options available. Many insurance companies are providing different types of Health Insurance policies in India. While so many insurance companies and their health insurance policies create difficulty in selecting right health insurance policy, the policy terms and conditions/policy wordings/policy clauses add more to the confusion. Though buying health insurance is a difficult task you can consider below mentioned points to finalize your decision in buying a suitable health insurance plan for you and your family. Coverage amount/Sum Assured One should select the right insurance amount considering one's age, number of family members and past medical history, if any. Choosing coverage amount carefully helps in the times of uncertainties. Healthcare cost are on the rise, many treatments cost in lakhs of rupee...

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What is Health Insurance Claim

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