In today's time it is very important to maintain good health. Especially in this Corona period, it has become most important. Apart from corona, there are all kinds of diseases, which trouble people and in their treatment, all the deposits of the people are exhausted. This is the reason why the lack of health insurance is being felt a lot. This is one of the biggest needs of today's time. That's why everyone is advised to have health insurance. There are different types of health insurance policies in the market, which are designed keeping in mind different groups of people. If you are also thinking of buying health insurance for yourself or your family, then it is very important to keep some things in mind, otherwise there may be problems later. Let's know about it...
If you are going to take a health insurance policy, then first of all keep in mind that what is your need, that is, think about buying health insurance only after identifying your need. After identifying it, then choose the right coverage, which can meet your needs.
Insurance sector experts say that people should take health insurance coverage at six times their monthly salary. Suppose your monthly salary is 50 thousand rupees, then the health insurance should be at least three lakhs.
best cashless policy
Experts also say that people should buy such an insurance policy, which is giving cashless facility. The advantage of a cashless insurance policy is that the policyholder does not have to pay the hospital bills, instead they approach the insurance company directly for the same.
While taking a health insurance policy, keep in mind that the big and well-equipped hospitals in the city where you live should be included in the list of cashless hospitals. With this you will not feel any kind of problem, you can easily take advantage of health insurance.\
Yes. Sum insured (excluding CB) will be increased by 5% in respect of each claim free policy year, provided the policy is renewed without a break subject to maximum of 50% of the sum insured. If a claim is made in any particular year, the cumulative bonus accrued will be reduced at the same rate at which it has accrued.
2.What is Cumulative Bonus and how does it work?
Cumulative Bonus means any increase or addition in the Sum Insured granted by the insurer without associated increase in premium. The following is the illustration of working of Cumulative Bonus: If Mr. A has bought a health insurance plan with sum insured Rs. One Lakh and he did not register any claim in the first policy year; at the time of renewal he will get a cumulative bonus of 5%. Thus, his total sum insured for next year will be Rs. 1,05,000/-(Rs. One Lakh Base Sum Insured + Rs Five Thousand Cumulative Bonus). Similarly, in the second year if he does not register a claim, he gets a cumulative bonus of 5% so that the Sum Insured will get increased to Rs1,10,000/-. This bonus can go up to 50% of sum insured; that is Mr. A can get a Sum Insured of 1,50,000/- if he does not make any claim for ten years.
3.What are the modes of premium payment allowed in Arogya Sanjeevani Policy?
A policyholder can pay premium on Yearly, Half-yearly, Quarterly and Monthly basis.
4.Whether grace period is available for payment of premium?
For Yearly payment of mode, a fixed period of 30 days is allowed as Grace Period and for all other modes of payment a fixed period of 15 days is allowed as Grace Period.
5.How can I take the policy of “Arogya Sanjeevani” Product?
You may approach any of the insurers listed above who are offering the product. The website of the insurers offering this product may be visited for further details. The policy wordings of all the Arogya Sanjeevani Policies offered by the insurers are placed in the website www.irdai.gov.in (Home>>Products offered>>Health Insurers>>2019-20).Direct link to the same is as follows:
If you are going to take a health insurance policy, then first of all keep in mind that what is your need, that is, think about buying health insurance only after identifying your need. After identifying it, then choose the right coverage, which can meet your needs.
Insurance sector experts say that people should take health insurance coverage at six times their monthly salary. Suppose your monthly salary is 50 thousand rupees, then the health insurance should be at least three lakhs.
best cashless policy
Experts also say that people should buy such an insurance policy, which is giving cashless facility. The advantage of a cashless insurance policy is that the policyholder does not have to pay the hospital bills, instead they approach the insurance company directly for the same.
While taking a health insurance policy, keep in mind that the big and well-equipped hospitals in the city where you live should be included in the list of cashless hospitals. With this you will not feel any kind of problem, you can easily take advantage of health insurance.\
You and Your Health Insurance Policy: FAQs
1. Will the policyholder be eligible for Cumulative Bonus (CB) under this product?Yes. Sum insured (excluding CB) will be increased by 5% in respect of each claim free policy year, provided the policy is renewed without a break subject to maximum of 50% of the sum insured. If a claim is made in any particular year, the cumulative bonus accrued will be reduced at the same rate at which it has accrued.
2.What is Cumulative Bonus and how does it work?
Cumulative Bonus means any increase or addition in the Sum Insured granted by the insurer without associated increase in premium. The following is the illustration of working of Cumulative Bonus: If Mr. A has bought a health insurance plan with sum insured Rs. One Lakh and he did not register any claim in the first policy year; at the time of renewal he will get a cumulative bonus of 5%. Thus, his total sum insured for next year will be Rs. 1,05,000/-(Rs. One Lakh Base Sum Insured + Rs Five Thousand Cumulative Bonus). Similarly, in the second year if he does not register a claim, he gets a cumulative bonus of 5% so that the Sum Insured will get increased to Rs1,10,000/-. This bonus can go up to 50% of sum insured; that is Mr. A can get a Sum Insured of 1,50,000/- if he does not make any claim for ten years.
3.What are the modes of premium payment allowed in Arogya Sanjeevani Policy?
A policyholder can pay premium on Yearly, Half-yearly, Quarterly and Monthly basis.
4.Whether grace period is available for payment of premium?
For Yearly payment of mode, a fixed period of 30 days is allowed as Grace Period and for all other modes of payment a fixed period of 15 days is allowed as Grace Period.
5.How can I take the policy of “Arogya Sanjeevani” Product?
You may approach any of the insurers listed above who are offering the product. The website of the insurers offering this product may be visited for further details. The policy wordings of all the Arogya Sanjeevani Policies offered by the insurers are placed in the website www.irdai.gov.in (Home>>Products offered>>Health Insurers>>2019-20).Direct link to the same is as follows:
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