Page 58 - Ebook health insurance IC27

The Insurance Times

 Policies also provide waiting period of 12-and 48 months for a specific diseases.
 Insurers provide cash less services wherein payment to hospitals are made directly

and policyholder did not pay any amount for the treatment.

Personal accident

 Personal accident policies usually cover lump sum benefit payment in the event of
death or permanent disablement and a weekly compensation for temporary
disablement.

 The amount of compensation depends on the sum assured chosen.
 This policy does not pay any amount incurred for treatment of policyholder.
 It only pays a lump sum to the policyholder.
 Many companies are launching policies for more than one year also
 Some policies also offer innovative coverage is like cost of modification of house or

vehicle or covering medical needs after accident

Critical illness

 Over the past few years instances of dreaded diseases like cancer, heart attack,
brain hemorrhage has increased quite significantly.

 Treatment of these diseases requires very high expenditure and the hospitalisation
products usually do not have such high sum insured.

 Further these diseases may require long-term nursing care or home-based nursing
which will require further expenditure.

 These diseases may have devastating affect on the finances of the policyholders and
he may not meet the expenses out of the savings.

 In order to meet this contingency Critical Illness Policies has been devised to take
care of the huge cost of treatment.

6 2 Guide for Health Insurance