People usually buy the first insurance plan they come across It is of utmost importance to pay attention and read the fine print of the insurance plan so that you are able to understand even the minute details regarding your medical insurance plan. If you don’t do that, it might leave you’re with an unpleasant experience and you will end up regretting the choice you have made.
There are plenty of health insurance plans available in the market. If you are not happy with your health insurance plan, mentioned below are some choices that you can make. 1. Make use of the Free-Look Period You might be wondering if it is possible to cancel your medical insurance plan before its due date. The answer is yes, you can. When you have read your fine print of insurance plan and you’re convinced that it is not the right plan for you, feel free to exit the plan during the free-look period. The Insurance Regulatory and Development Authority of India (IRDAI) have made it compulsory for the insurance providers to offer a 15 day free-look period, that commence from the moment you get your policy document. One thing to keep in mind is this option could be availed only if your insurance plan is a three-year long-term plan. 2. Buy an Insurance Plan That Offers your Preferred Medical Treatment The medical insurance plans come with the exclusions and specific waiting periods related to certain illnesses, pre-existing illness or medical treatments. In case you have purchased a medical insurance plan that doesn’t meet your medical expectations, start looking for the one that actually does. For instance, some plans provide coverage for Ayurvedic treatment, Unani and Homeopathic medicine and some don’t. 3. Top-Up Plans In case you are worried that your sum assured is low, you can always buy a top-up insurance plan. It is a plan that comes with a high deductible. It is useful when you have exhausted your sum insured during undergoing a medical treatment. A top-up insurance plan acts as a shield. Its premium doesn’t cost that much and it helps to boost up your coverage that to at a lower price. 4. Port Your Insurance Plan You can avail the option of porting your current health Insurance plan from your current health insurance company to another insurance company as per your preference. Make sure that your new insurance provider must provide you with the waiting period credits along with the same sum assured that was provided you in the previous policy. Note- You can port your insurance policy 45 days before its due date. 5. File a Complaint If you are not happy with the services provided by your insurer, you can make a complaint to the Grievance Redressal Officer of your insurance provider. The complaint must be in writing. You need to submit the relevant documents supporting your complaint. Don’t forget to get a written acknowledgement of your complaint and make sure that the date of filing the complaint is mentioned.
0 Comments
Leave a Reply. |