Monthly Archives: November 2017

Recent studies state that India’s Medical insurance premium is estimated to grow at around 20% of compound annual growth rate. The expansion of health insurance market in India is due to the elevated costs of medical treatments, operational & surgical costs, more complex nature of the disease and unexpected viral infection situations which have come in picture.

It has been figured that over 65 percent of people are covered under private insurance companies while the remaining 35 percent are protected by public insurance companies. When we take health insurance premium share into consideration, it’s the public insurers who acquire 60-65% of the stakes while private insurers are limited to mere 40% only. This throws upon a wide opportunity for private sector companies to introduce some well-planned system to focus the masses instead of just approaching the cream layer section of the society.

The success and sustainability of Medical insurance segment will depend upon the development of a strong policy framework, efficient management, and monitoring system. Insurance companies are now working on products that reimburse expenses made for OPD, pharmacy, and consultation. These expenses will be covered on a cashless basis as companies are now aware that customers genuinely feel the need for such a product. The facility will be offered in the hospitals that are a part of our network.

Experts say employer’s Medical insurance is generally more lenient with pre-existing conditions. They cover pre-existing conditions, which otherwise may not be covered under individual health policies. But once you quit the job, you will no longer be covered under the group policy and stand to lose out on the waiver of pre-existing disease waiting period.
Although, personal health policies have a waiting period of about 1 to 4 years but they can be designed as per your needs and requirements. It is to prevent from companies getting duped. There are insurance companies who offer several customized Medical insurance at affordable premium costs. All you need to do is work factors like income source, age & health condition, risk appetite, hereditary disorders, and then approach to customer service or online team for discussion. They will guide you through the right policy structure that will help you keep financially sound during health emergencies.

Health insurance companies are now finally opening their arms to embrace their policyholders. Today, insurers are offering policy coverage worth crore as sum assured, medical coverage facility worldwide. They offer reduced waiting period for pre-existing disease and cover for all ages.

The health-related expenses have become quite steep nowadays. Medical inflation costs are standing at around 15% to 20%. But private health insurance companies are delighted to meet the rising demand with improved policy benefits. However, policyholders also need to shell out little more money to enjoy the feature-rich benefits of the policies. Today, international Medical insurance, that earlier meant for premium customers only, is now being availed by families belonging to the middle-income group.

To get knowledge of the relevant information, you should visit the website of health insurance companies or comparison sites and check out what offer they have in their baskets. If not satisfied you can always meet up the agents and discuss the pros and cons of the policies. They will help you clarify the doubts. Never hide any pre-existing, habits like smoking, drinking or tobacco consumption else you might get shorter financial cover. Always remember that even if the healthcare policy displays a long list of benefits, it is not necessary that every benefit suits your needs. Choose the one which is relevant to your health situation and premium paying capacity.

The doctor disability shop is the one which acts as the insurance company. They work as an independent agency ad they have been working in this field since 15 years. They believe in only working with the doctors and dentists and they focus mainly on protecting the valuable assets of them. They protect the sets based on their ability to work and their own specialty. They work with the entire available carrier and make sure that their clients get the best value and product which they deserve to have. A proper analysis is done so that the clients receive the perfect product as per their needs.

Discounts

They have the right to offer some disability insurance discounts as well to the physicians based on the hospital affiliation and the professional association affiliation. They have proven track record of almost 15 to 50 % and they have been successful in saving their clients. Moreover, it is possible n the basis of the disability premiums for the life. They are always ready to help their client in any manner they can. They always help the clients by providing the necessary information to them as well.

Terms

Elimination period in this is known as the waiting period and it is the time when you have to be totally disabled before becoming eligible for the base monthly benefits. Usually the periods are of 90 days and you can choose a longer period but that is not needed and not recommended. The group plans and the plans that are offered through some association work in a different manner. The elimination period is the time which is the consecutive days of the disability before you start getting the disability benefits. There are some individual carriers who have some variation of the definition which give good protection more.

You will become fully eligible to receive the full monthly benefit no matter what you are earning in the field. There are only some carriers who offer such preferred definition for the disability. The base monthly benefits means that the amount that is paid under the policy terms every month when you are totally disabled and once your elimination period is satisfied. If you have a pure own occupation disability then you will be receiving this benefits of base amount till the disability policy exists. If a dentist or physician has limited their duties of the customary functions of the professionals and specific medical and dental specialist then your specialty will be considered as your occupation.

There is certain one which is guaranteed renewable only. It means that till you reach the age of 65 the policy cannot be canceled by you or the provider and no restrictions can be added to it by them. They also reserve the rights to change the premiums rates but the change will apply to all the policies. The premium will base on the issue age and the occupation. This option can be safe way to stay away from the high premiums of specialty disability insurance.