Nowadays Heath Insurance Plans are quite important and mandatory. In this current time, you can face any health-related issues anytime. So health insurance plan is a kind of a backup for you at that crucial time. So now you must be thinking that putting money into these plans may not help you thou. And to break your thoughts I am presenting some important facts about health insurance plans that you must know and least try to get one also.
TAX AND TERMS
It is pretty much unknown to all that when you are the holder of a premium insurance holder, you don’t need to pay the tax on that amount. It is an indeeda huge benefit to you that you are having facilities from the both side. You can execute that money in your medical terms and also can save yourself from tax burdens.
Period and renewable terms are some facts that are discussed in major. No matter which type of poli9cy you hold renewable terms matter. Nowadays keeping the policyholders in mind, companies have decided to keep this feature as lifetime. At the end of every policy, you can renew the amount, plan and policy.
DISCOUNT (FAMILY & LOYALTY)
The many people added to a policy the more company earns. On this basis, to earn more profits, companies give a type of discount called family and loyalty discount. When you are a policy holder and you make your family member or someone to enroll in the same plan of that company, the company gives you this discount. On international level the ratio of this discount is 2-10%.
NO CLAIM BONUS or NCB whatever you call it, it carries the same value in insurance sector. When you don’t claim your policy money for something petty or not so important, the next year get the bonus which is called NCB. This term has encouraged a lot of holders to maintain their policy wisely and to renew many terms. This famous term also have some conditions. If you are a premium holder and decide to renew your policy then you will get it. Otherwise only the contract amount will be given to you at the end of the period. And it is quite obvious for the policyholders to know if they really deserve something like this or not. Because when you renew your policy the amount of the bonus also should be included in the main amount and must be categorized as your main bas amount at the start of the next renewal period.
QUICK SUPPORT WITH THE ADDITION OF FREE CHEKUP 24/7
Now I am talking about two basic factors, 1) 24hours all day quick support, 2) free checkup.
1) Suppose I am a new fellow in this part. So it is quite obvious that I will find this facts terms or whatever you call it pretty difficult. And even if I am a pro person here, still I will find some difficulties as the rules of state can be changed any time or the authority decides to get some changes in their business plan. So a service of 24hours is much needed at this age of internet.
2) To promote their business and motivate policyholders to be much more careful about their health, the companies have added the feature of free health checkup in selected hospitals. But it also has some conditions. For example, when you are a premium holder you may have checkup without cost for your family too.
As our world is progressing day by day, usages of currency or money have decreased. Digital banking term has given people an opportunity to roam cashless. When you termed up with a digital policy you may go to your near hospitals without cash and have your treatment too. This actually has made you much more comfortable in your treatment issues. Counting and summing cash, collecting the amount from various places etc. type problems have now ended as you are a health policy holder.
ISSUES WITH PROTABILITY
Portability is a new generation insurance term that allows you to shift your policy one company to another. When you find your current company not so much useful, at the moment you decide to shift your money and to be honest you can. But one thing that you must know is all companies do not provide the same. So it’s not quite obvious that the current one will fulfill all the facilities that the last one did.
SETTLING QUICKLY AND UPDATING CLAIM
To judge a company of insurance you have to look at its ratio of updating and rejecting holders’ claims. It this generation of quick and competitive marketplace you are free to claim your demands and there are many insurers that are eagerly waiting for you to join them. So nowadays you go to online, search the insurer, check his claiming and rejecting ratio and decide to join or not. That’s it.
A fact that is not just individual to any specific system. Apart insurance this point values a lot. So new insurers have made their connectivity to the clients pretty smooth. They update their clients about their claims and terms every day via emails or texts. This thing is now encouraging to have faith in new insurers.
RESTORATATION OF THE ASSURED SUM
The fear of people about damaging their assured sum in health policy when they are critically ill has now got remedy. Insurers have now invented a new system where the deducted amount of assured will be covered up without any cost.
As the time flows, things also change. So as the facts about all insurance policies. Many facts are now dead and some are just risen. But the truth is that insurance really insure much risk free future for us if you really choose your policy wisely. So, well wishes to all and best of luck choosing their perfect health plans.