Advantages & Disadvantages of Health Insurance


Advantages & Disadvantages of Health Insurance

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Advantages of Health Insurance

When advantages come into light
  • Health insurance India facilitates to carry the sum assured and cumulative bonus of the insured while shifting medical policies.
  • A waiver is issued to the insured, for a waiting period of 30 days where no coverage is provided.
  • The waiting period of pre-existing diseases in the Mediclaim policy is also transferred to the new insurer.
  • The insured can gets to choose the best insurance policy or best health policy from an equally better health insurance company.
  • While switching the plans the insured can get the new and best insurance policy at lower premiums.
  • Switching gains the insured with best health insurance policies and better coverages.
  • The insured can enjoy his/her chosen best insurance policy at lower premiums without paying any excess amounts.

Disadvantages of Health Insurance

When the disadvantages of the portability of the plan are considered the insured should check the conditions under which the insurance policy portability is issued.
  • In Health Insurance India insurance plans, the insured can only opt for best insurance policy only before the expiry of the existing plan.
  • While switching plans, the insured should do a deep research for best health insurance policy or best health policy with various insurers.
  • As per the guidelines of IRDA the insured should submit all the relevant documents to the new insurer with in a week's time.
  • While switching to the new insurer the insured might lose the maternity benefits gained with the previous policy.
  • While porting the health insurance policy the insured is likely to be chosen with in the basic reimbursement plans

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Gokul Dulal
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Gokul Dulal
B.M.C- 05 Chaapgaun Dolakha Nepal
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