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Individual Medical Insurance Plans – 7 Known facts

individual health insuranceA lot of individuals believe that every individual medical insurance plans, would take care of every other hospitalization expenses. Unfortunately, reality is completely different to this usual belief. Most healthcare insurance schemes, are fine tuned to serve a specific purpose. These policies may not take care of your medical requirements at all times. This is why you should handpick the right kind of policy at the right time! There are many under-publicized healthcare policies in the market. These policies remain unused most of the time. Conversely, you should choose medical insurance plans, that best suit your needs and wants

Here are seven known facts about individual insurance plans for commoners.

Individual Medical Insurance Plans: Fact #1 – Add on expenses

Most medical insurance schemes, are framed to handle the direct cost of hospitalization. Nevertheless, have you ever wondered what happens to the expenses that add on? Or, do you know how refreshments and food can be covered? This is why you should verify, if the policy offers daily hospital cash allowances. This is an integral scheme that would take care of every other medical bill too.

Individual Medical Insurance Plans: Fact #2 – Convalescence

22font-size: 12pt; font-family: ‘times new roman’, times, serif;”>The benefit of convalescence differentiates many individual medical insurance plans from the rest. It would take care of the insurance plan owner’s recovery expenses too. Technically, this feature is also known as recuperating benefit. It is an essential feature that delights the insurance owner with a lump sum. Nevertheless, the actual duration of the hospital stay should be between 5 to 12 days. In some individual medical insurance plans, post-hospitalization is a part of the recuperating period.

Individual Medical Insurance Plans: Fact #3 – Alternate Treatments

Some individual medical insurance plans, are framed to provide financial support for alternative treatments. According to standardInsurance Regulatory & Development Authorities, non-allopathic cures like homeopathy, ayurveda and unani are covered by the insurance schemes. These policies owe to reimburse at least 25% of the actual expense. – More on best fitness monitor

Individual Medical Insurance Plans: Fact #4 – Coverage

Generally, insurance owners believe that the policy is restricted to day-care routines or hospitalization. Nevertheless, standard insurance schemes tend to offer a wider coverage. It takes care of domiciliary treatments too. Before you sign-up for an insurance policy, make sure you read through its terms and conditions. All individual medical insurance plans are worded carefully. Thus, you will not have any issue knowing its coverage.

Individual Medical Insurance Plans: Fact #5 – Transplantation

Emotionally and financially, transplantations can have a massive impact on you! Apart from the recipient’s treatment charges, the donor’s expenses would be added to the hospital bill too. Nevertheless, there are insurance policies to take care of the donor’s expenses too!

Individual Medical Insurance Plans: Fact #6 – Childcare

Insurance plans do have fixed allowances for childcare. In case a child (below 12 years) is hospitalized, all expenses made will be included in the insurance plan. For instance, individual medical insurance plans from service providers like Oriental, are structured to payback sicknesses for a maximum of 10-long days.

Individual Medical Insurance Plans: Fact #7 – Lump Sum Returns

Finally, medical insurance plans tend to offer lump sum reimbursements. These are special policies that cover critical illnesses and medical routines like chemotherapy & dialysis. The high end individual medical insurance plans come with intuitive survival benefits too.