LIC means Love is Compulsory..!
Insurance to your wealth and well being..!!
Health Plans offer financial security to meet health related contingencies. Due to changing lifestyles, health related issues have not just escalated, but they have increasingly become more complex in nature. It becomes imperative therefore to have a health insurance plan in place, to ensure that no matter how critical your illness, it does not impair your financial independence.
In the race to excel in our professional lives and provide the best for our loved ones, we sometimes neglect our most important asset – our health and in effect our lives. With increasing levels of stress, negligible physical activity and a deteriorating environment due to rapid urbanization, our vulnerability to diseases has increased at an alarming rate.
HOW HEALTH INSURANCE WORKS IN INDIA?
Health insurance, insurance companies provide you financial help when you are hospitalized or when you claim for spending on medicines and other related spending.
How do you get your money back? There are two ways
(1) Claim for the total amount you have spent during your treatment. In this case you have to produce all related bill to the company and then they will reimburse you. This method may prove to be a financial burden on a person with limited resources.
(2) With the help of TPA (Third Party Administrators), all you have to do is just get hospitalized and everything will be taken care by them. Its like cashless facility in auto insurance.
However, in you case you have to keep following things in your mind:
1) Since your employer is providing you Health insurance cover, it is unlikely (at least i guess) that your denial for health insurance will be accepted. Since, your employer is using group health insurance policy in which an employer in its organisation provides health insurance for all of its employees.
2) It is necessary to look for the list of hospitals your health insurer provides. It is advisable for you to prefer these hospitals whenever you need. Depending on the plan of the health insurer, you may be compensated for loss (in case) of any limb.