Loopholes in maternity plans
August 26, 2015
Maternity riders usually have waiting periods and don’t cover all contingencies If you believe you are fully covered for maternity expenses through your health insurance plan, think again. Despite all the product innovation that the health insurance space has witnessed, loopholes continue to exist in the maternity plans offered to women. Unusually long waiting period Insurance companies say that maternity is not an illness, and expect you to plan for it. Well, that’s the underlying philosophy behind the waiting period clause which is typically stretched to between two and six years for such policies. For instance, maternity expenses incurred before and after child birth procedures are covered under Apollo Munich’s Easy Health Individual Premium after a period of six years.
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How much health insurance do you need?
July 29, 2015
The penetration of health insurance in India is very low. Of the country’s 1.25-billion population, less than a fifth is covered under any kind of health insurance. Even among those covered, the average sum insured is less than 2 lakh, according to data from the Insurance Information Bureau of India. Given the high cost of medical procedures today and the double-digit inflation in healthcare costs, buying adequate cover is very important. Not having enough health cover could force you to forego some medical procedures due to insufficient funds at your disposal. Else, you may have to use up your hard-earned savings that were originally intended for children’s education or marriage. But the importance of health cover notwithstanding, our conversations with
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