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People wait for the right time to purchase a medical insurance policy. The question is when is the right time? Since everyone should always have insurance plan, regardless of how healthy they are, any time is an ideal time to buy health insurance. The policy is required for the unpredictable future—so that the policy holder can be certain that when they fall ill, there is an insurance plan that would assist them in getting the best treatment possible. Thus the medical coverage provided by the policy is extremely crucial. A person has to be sure of the insurance coverage that is being given by the insurance provider. Unmistakably, the best way to understand the plan is to understand the policy wordings by reading them thoroughly.
When attempting to comprehend the health coverage, it is important to grasp the exclusions and inclusions of the plan. In other words, one should know when they can use the plan and when they cannot. Many times, policy holders do not know when the plan is not valid and file a claim without complete knowledge thereof. This leads to claim rejection which causes dissatisfaction among customers.
The ideal way to make sure that people can use the policy optimally is by obtaining and reading the policy wordings. One can either download the policy wordings from the website of the company or ask a broker or agent for the policy wordings. Every insurance policy has a section giving details about the coverage of the policy. This section is primarily meant to provide the customer a glimpse of the different procedures and bill amounts that the insurance provider would cover. Thus if a policy states that it provides coverage for only 50% of the room rent incurred by the insured patient, then the patient would have to pay the remained 50% of room rent regardless of how much the cover amount is.
The Exclusions and Limitations section is meant to give the insured person knowledge of the conditions under which the plan cannot be used. For instance, a lot of insurance policies state in the exclusions that the mediclaim policy would not cover HIV/AIDS. This would mean that in if an insured individual is admitted due to the same, there would be no benefits available. Understanding any insurance plan is not too difficult if people read the policy wordings step-by-step. Wherever there is any confusion, one should simply ask the insurance provider for clarifications.
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