Points to Consider While Buying Family Health Insurance Policy

With the cost of quality healthcare going up with every passing year, it has become a must for every person to have a family medical insurance. In these uncertain times it is a given that at some point or another, you or any of your family members may get affected due to an ailment or injury. If you do not have any health insurance for family covering you against the expenses on hospitalization, there are chances that you might end up exhausting all your savings, and may even end up with debt. It will be a sorry state of affairs if you end up in debt when you could have saved all your savings and still get the best possible treatment for the ailing family member.

If you are living in a joint family comprising of both young and elderly, such uncertainties in life can hit you hard. That is why choosing the best health plan for the family is mandatory for you. When you choose a floating family health protector policy from IFFCO Tokio, rest assured that you have made the correct decision. Our comprehensive range of services makes sure that when you buy family health insurance from us, you enjoy the maximum benefits.

But you are not assured of guaranteed claim settlements or cashless hospitalization benefits just by buying family health insurance online or offline. You need to take care of many factors to make sure that you continue to enjoy the benefits of the best health plan for the family.

For your reference, we have compiled a list of Do’s and Don’ts that you should follow for a hassle-free experience in terms of your health insurance plan for the family.

Dos

• Pre-existing conditions are included along with the waiting period.

• Reimbursement limits under various subheads.

• Diseases that are not covered under your family health insurance.

• Inclusions and Exclusions.

• Conditions for reinstatement of basic sum insured.

• Co-payment clause.

• Pre-hospitalization and Post Hospitalization expenses covered under your mediclaim policy for family.

If you or any of your family members who are going to be covered under the family medical insurance are suffering from any existing medical conditions, you should disclose the same while filling up the health mediclaim Policy documents. Conditions such as diabetes and hypertension must be disclosed. This will save you from a lot of hassles later on.

If you want to take the cashless route for payment of your hospitalization expenses under family health insurance policy, then you should intimate the company or the TPA in advance for cashless authorization. In case of emergencies, try and intimate within 24 hours of hospitalization. This way, by the time of discharge, your claim against the mediclaim policy for the family will be easily approved, and you need not pay anything from your pocket.

Try and select a hospital on our panel, so that you can enjoy the benefits of cashless hospitalization under the best health plans for a family. But, if you want to get a treatment done at a hospital that is not on our panel, then you should collect and safely store all the documents, prescriptions, invoices, etc. so that when the time to file the claim comes, you are fully prepared. This way you can file your claim on your health insurance plan for a family in one go, and most likely get it approved without any delays.

Remember that the more supporting documents you can produce, the higher would be the chances of the claim being approved under the health insurance plans for family, and that too quickly. So, when you or any of your family members are undergoing treatment, keep all the invoices, prescriptions, diagnostic tests, blood test reports, discharge summary and all other documents neatly stored in a folder along with the family health plan documents. This way, when you file your claim with all the supporting documents, it is highly likely that your claim would be settled in one go without any repetitive list of requirements.

You must ensure that you pay the renewal premium for your health policy for the family on time. Though we offer a grace period of 30 days up until which the delay in premium payment is condoned. But do not take chances as once the policy lapses, all your continuity benefits are canceled, and the accumulated bonus is forfeited.

If at any point in time there is any alteration in the subject matter of the insurance in your health insurance plan for the family, you are advised to intimate us as soon as possible so that you and your family members can continue to enjoy the benefits of the policy.

While availing any of our health insurance plans for a family, you should take due note of certain factors that are mentioned below, so that you do not face any issues later on: -

Educate yourself regarding a family health plan thoroughly. This way, when you need to file a claim, you will be better prepared to make sure that your claim is approved.

If this is your first health insurance plan for the family, then you and other family members proposed to be covered under the family mediclaim policy will be required to undergo medical tests. Do not skip these tests at all. Also, you should be aware as to who will bear the cost of these tests.

You have to pay the premium only after your proposal for a mediclaim policy for the family has been accepted. If due to any reasons your proposal for the health mediclaim policy is rejected, any amount which you have paid towards premium shall be refunded after deducting costs for the tests.

In case of an unfortunate incident or an opportune time when a new member enters the family, then the information must be conveyed to our customer care center at the earliest so that the necessary changes can be made in the family mediclaim policy.

Don’ts

We request you to not conceal or misrepresent any material facts related to your or family member's medical conditions. If you conceal any material information, it may lead to forfeiture of premium paid for the family’s health policy and leads to cancellation of the policy.

Do not delay your premium payment for a family insurance plan’s Policy renewal by even one day. Otherwise, your family’s health mediclaim policy may be redundant.

Fraudulent claims or falsification of information will lead to cancellation of your health insurance plan for the family. So, never attempt to try and defraud the company.

Never make small and frequent claims against your mediclaim policy for family, this will not only lead to increasing in your premiums but eventually to cancellation of the health insurance policy for the family.

Do not file the claim under your health policy for the family unless you have all the details and documents ready. Incomplete files will be rejected if the required information is not furnished urgently. If there is any delay from the hospital in handing over the documents, please let us know in advance so that we can place your file on hold.

If you are looking for comprehensive health insurance plans for a family, do not delay your decision indefinitely. You should look at all the available options, compare them and then make a decision. The more you delay, the more is the probability of your family not being covered for medical exigencies.

Just remember these points that we have mentioned above, and you can be assured that all your genuine claims related to your family health insurance will be duly honored by us at IFFCO Tokio.