Health Insurance Policy: Many policyholders ignore the renewal rules for their health insurance policies.
Health insurance plan is considered very important for everyone in the present scenario. At the same time it is also important that you choose the right health insurance plan. Let’s take a look at some important mistakes you should avoid to get the right coverage and avoid unnecessary headaches in the future. In addition, you can also find some information on how to approach the complaint process with your insurer.
Some of the important mistakes you should avoid are
Not understanding the policy terms and conditions: Read the policy document that may be issued to you, such as waiting periods, what is not covered and claim settlement procedures. Missing a few details in the terms and conditions can lead to a lot of misunderstandings. And there may be unexpected costs incurred during the claim process.
Buying the cheapest policy without comparing
Although it is essential to buy a policy that we can afford, it is a huge mistake to buy a health insurance policy based entirely on the premium cost. Cheaper policies may not provide adequate coverage. So things like insurance, network hospitals, claim settlement rate and customer service should be compared between different policies.
Non-disclosure of pre-existing diseases
Maybe if you have any pre-existing diseases then you must mention it while buying the policy. Failure to do so may result in your claim being rejected. Also some policies have longer waiting periods for certain treatments. So it is good to know about it.
Avoiding Network Hospitals
Most health insurance plans offer cashless treatment at network hospitals. So it is important to check whether the hospitals near your home are available in the list of network hospitals while purchasing the policy.
Ignoring Rules for Policy Renewal
Many policyholders ignore the renewal rules for their health insurance policies. But it is mandatory to check the renewal rules whether there are actually premium changes, insurance changes and any new exclusions.
Avoiding these above mentioned mistakes while purchasing a health insurance policy will help you avoid unnecessary expenses and hassle.
Complaint against insurance company
The complaint process for a health insurance company has a two-step structure:
Step 1: Contacting the insurance company
Filing a complaint: File a complaint with the grievance redressal cell of your health insurance provider.
You can file it as a written complaint or by calling the customer care helpline or online, along with the necessary documents. Keep ready all the necessary documents related to the complaint you are filing. The insurer has to settle the complaint filed by you within a certain period of time (usually 15 days).
Stage 2: Forwarded to IRDA (if not satisfied)
If you are not satisfied with the insurer’s response, you can take your complaint to the Insurance Regulatory and Development Authority (IRDA).
For this you can go to Bhima Barosa system of IRDA portal through the following address (https://irdai.gov.in/grievance-redressal-mechanism1)
complaints@irdai.gov.in. You can send an email to the id.
Call the toll free helpline number 155255 or 1800 4254 732.
Register your complaint with full details and necessary documents. IRDA will forward it to your insurance company.
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