Chennai is a popular state, where significant business activities take place and many students come every year for their higher education or in search of jobs as it is home to renowned universities and employment opportunities.
Most importantly, Chennai offers competitive healthcare facilities. However, with the country-wide medical inflation, healthcare cost in Chennai has also risen. Therefore, if you suffer from any medical complications or acute disease, it might get difficult for you to manage the treatment cost and other related expenses.
Though you cannot have complete control over such unexpected medical events, you can make arrangements for the same in advance by staying covered under health insurance in Chennai.
If you are buying health insurance in Chennai for the first time or you have already bought it, check for the ideal features a health insurance policy must have. We’ve mentioned a few of them below:
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Lifetime Renewability
Different health insurance plans in Chennai have different renewability criteria and age limit. However, it is beneficial to buy a health policy with lifetime renewability as it keeps your health financially secure throughout your lifetime. Besides, as you pay the premium over a longer period of time, you can opt for higher sum assured and have wider coverage.
One of the significant reasons of buying health insurance with lifetime renewability is to keep your health financially secure even in old age, when you have higher chances of suffering from health issues.
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Waiting Period
Before buying health insurance in Chennai, it is imperative to check the policy’s waiting period. In simple words, waiting period is the period which starts right after you have bought your insurance policy and usually ranges between 2 to 4 years. During this period, you cannot apply for the claim. Therefore, it is preferable to compare and opt for a health insurance policy with minimum waiting period.
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Limits and Sub-Limits
A few insurance policies have certain limits and sub-limits attached, which restricts the amount you can avail on a particular facility. For example, your insurance might have a sub-limit on ambulance charges, room rent or any other facility. It is advisable to not sign up for policies having a number of limits and exclusions, as you might have to spend out of your pocket during medical emergencies despite being covered under comprehensive health insurance in Chennai.
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Coverage of Pre-Existing Diseases
If you have any pre-existing diseases, it is advisable to check the related clause in the health insurance policy. Usually, it might have longer waiting period or any other related condition. Therefore, you should compare such conditions across a number of insurers and choose one with minimum and reasonable limitations.
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Cashless Hospitalization Benefits
A number of insurers offer the cashless hospitalization benefits. Under this, the insurer makes the settlement of the medical bill directly with hospital, you need not intervene or apply for the claim separately. However, an insurer might offer this facility only if you get the treatment done from one of their network hospitals. Therefore, it would be beneficial to choose an insurer with higher number of network hospitals.
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Co-Payment Clause
It is basically a percentage of the medical bill you would have to pay during settlement of the medical bill, and rest would be paid by the insurer. So, before signing up for your mediclaim policy, do not miss out on checking the co-payment clause. If possible, it is advisable to avoid such policies which have co-payment clause. However, if you have crossed a certain age, you might have to opt for it, in that case you can choose a lower percentage for yourself.
After you have considered all the features we’ve listed above, it is time to choose your insurance provider and make your final decision. It would be wise to choose a credible insurance provider such as TATA AIG, which has an exceptional record of speedy claim settlement and competitive services. In addition, they offer a range of medical insurance plans, giving you the option to choose one according to your needs. Visit their website to know more about their services and policies.
