Buy health plan early, allow it to mature and leave all your worries!
Updated: Jun 16, 2020
Health insurance plans are always full of lots of riders and conditions. Almost all the health plans, in the first year, offer only hospitalization benefits caused due to accidents. For all the other illnesses, there’s a waiting period, at minimum, 24 months. And for specified diseases like cancer or renal issues, it’s usually four years.
Therefore, it is very important to buy a health insurance policy early in life and diligently continue it for a long period of time. The policy needs to get matured to be able to help you in case of any medical exigencies. But once that’s done, it will be able to cover almost all the diseases or medical problems that you might face.
Just a few days ago, the insurance regulatory authority of India issued a guideline stating, “Health insurance companies will not be allowed to contest claims once the premium has been paid for a continuous period of eight years except for proven frauds or permanent exclusions specified in the policy contracts.”
Hence, if you continue your health insurance policy for a continuous period of eight years by making your premium payments regularly, the insurer will have to provide hospitalization and other benefits as per the policy without any conditions.
In a world full of uncertainties, it is in our own hands to get some certainty on our medical expenses by taking an appropriate health policy and nurturing it properly so that it takes care of you and your family when you need it.
What we do?
We are a unit of Aequitas Insurance Brokers Private Limited, which is registered with IRDA as an insurance broker. As a registered broker, we represent our clients to the insurance companies and negotiate the best quotes with maximum coverages. We are different than an insurance agent. An agent represents one particular company and therefore is more inclined to sell the policy of his company only. Whereas, as a broker, we are authorized to work with all the insurance companies and therefore can find the best available risk coverage and price from the insurance companies for the client.
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