The Importance of Understanding Your Health Insurance Policy and the Role of an Insurance Advisor
Hello, readers! I am Senthilkumar, an insurance consultant. You can find more about me on my website, www.bestpremium.in. Today, I want to share a story that happened this morning, which underscores the importance of understanding the details of your health insurance policy and the crucial role an insurance advisor can play in this process.
A Call That Changed The Morning
As I was getting ready for office, one of my existing clients called me. He had received a copy of a health insurance policy from his neighbors, an elderly couple. The wife had been hospitalized due to a health problem and the doctors advised her to plant a stent. The policy was sold by one of the leading banks and it mentioned all the pre-existing conditions such as hypertension and diabetes. However, there was a waiting period of 36 months for these pre-existing diseases and the policy had been taken just 23 months ago.
The Waiting Period Dilemma
I explained to my client about the waiting period for pre-existing conditions. If the heart attack is attributed to these pre-existing conditions, then the claims will not be paid. I asked
my client to explain the policy terms to the couple and urge them to renew the policy without fail.
The Role of an Individual Insurance Advisor
This is where the role of an insurance advisor becomes crucial. An insurance advisor can help you understand the complex terms and conditions of your policy, including the waiting periods for pre-existing conditions. They can guide you in choosing the right policy that suits your needs and can help you avoid situations like the one faced by this elderly couple.
The Lonely Elders
What disturbed me was that the sons of this elderly couple live abroad, leaving their parents alone in their old age. This is a common scenario in today’s world and it emphasizes the importance of understanding and managing one’s health insurance policies.
An Alternative Policy
Interestingly, there is another health insurance policy from the same insurance company. In this policy, by paying an additional premium, the waiting period for pre-existing diseases can be reduced to one year. If the couple had taken this policy by paying the additional premium, then this claim would have been payable. It seems that the bank had not explained the waiting period properly.
Conclusion
This incident serves as a reminder of the importance of understanding your health insurance policy, especially the waiting period for pre-existing conditions. It also highlights the significant role an Individual insurance advisor can play in helping you navigate the complexities of health insurance. It’s crucial to ask questions, understand the terms, and choose the policy that best suits your needs with the guidance of a trusted insurance advisor.
Comments