Innovation in health insurance plans is an important aspect of consideration. The manifestation of advanced knowledge and research has helped in the capability to distinguish among plans issued by the third-party insurers, known as standalone health insurers. Now, to ensure you subscribe to the right insurance plan, you have to compare them which can be done on the basis of below-mentioned factors.
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1. Sub-limit:
Apart from coverage for pre-existing ailments and lifetime renewability, new age health insurance providers have introduced a new term called ‘sub-limit’. As the name suggests, sub-limit is the limited reimbursement to the medical cost to a predefined level irrespective of the prescribed sum in the policy.
2. Coverage of day-care expenses:
The new age health insurance companies also cover day-to-day medical care expenses incurred by the insured person. This coverage was also available earlier. However, in order to avail this coverage, the insured had to ensure he/ she was hospitalized for at least 24 hours. This time has been now reduced and it’s no longer mandatory to file a claim for a minimum of 24 hours. People can file a claim for medical expenses incurred for less than 24 hours too.
3. No medical test required till 45 years of age:
Most insurers providing health insurance policies a decade or even 5 years ago had to make their subscribers go through a medical check-up as a part of insurance eligibility. However, as per the new policies, people below 45 years of age don't have to appear for a medical test in order to get medical insurance. That said, this feature is limited to certain insurance providers. Hence, you must such insurers before subscribing to their health insurance policy.
Read Also: Features of New Age Health Insurance Plans In India: Innovation And Ease
