India health insurance for Smokers and Drinkers

Popular Myths about Health insurance

• Health insurance Coverage is from Day 1
  Many Individuals who have opted for mediclaim insurance in India believe that they will be covered for all treatment and illnesses from the day their policy starts. This however is not true, since almost all coverages have a waiting period of anywhere between 1-4 years. There are also stated exclusions under Indian medical insurance, which are not covered under the policy. Accident related coverages however start within 30 days of the policy being issued.
• Drinkers and Smokers Cannot buy Health insurance
  More than half of the individuals who today smoke and drink are of the view that they are not eligible for purchasing Health insurance and this is completely not true. While it is a fact that drinkers and smokers present a more riskier profile for the insurance company to offer coverage to, they can definitely buy health insurance from almost all insurance companies. There will however be a more stringent medical examination prior to them being covered and they can expect the premiums to be relatively higher than a non smoking/ non drinking individual.
• Company sponsored Group Health insurance is Sufficient Coverage
  Most organisations today, provide health insurance coverage for their employees as part of their Employee Benefits (EB) programs. Most of these programs have a relatively lower and fixed sum insured available to the employee and some companies do not offer coverage for the employee’s family. The coverage provided under such programs may not be sufficient in case of an unfortunate critical illness and the employee could end up paying for the remaining treatment from their pockets. Another risk is if the employee chooses to leave the organisation to better their prospects, they could be stranded without health insurance. Hence it is advisable to have an individual health insurance plan for oneself and their family.
• Indian medical insurance is for Senior Citizens
  Many people who do not have health insurance believe that health insurance is only for old/aging people. After all, what could happen to a younger person? This is because they associate falling ill/requiring hospitalisation or surgery are related directly to age. They tend to forget that Health insurance is not only for Sickness related treatment but also for Accidents. Another major benefit of buying health insurance at a young age is that the cost of such a policy is lower and also for every claim free year, there is a bonus sum insured added to the policy which ensures that for similar premiums, additional coverage is available when one starts young.
• Insured can Claim unless Hospitalized for 24 hrs
  There is a general belief among individuals that only treatments (including surgeries) which are followed by hospitalization of atleast 24 hrs only are covered under a health insurance policy. However today, due to technological advances in medicine, it is not always necessary that all surgeries required 24 hrs hospitalisation. There are many surgeries called Day Care procedures like a cataract operation, kidney stone removal, which take a few hours and do not require hospitalisation of patients. Almost all health insurance policies cover Day Care procedures.
• Health insurance Policies do not cover Maternity/Pregnancy
  There is a popular misconception that mediclaim insurance in India do not cover maternity/pregnancy, which is not correct. Almost all health insurance policies/companies offer Maternity coverage but it does come with a waiting period of between 12-24 months. Therefore parents to be need not be worried, and can definitely go in for a policy which covers maternity/pregnancy.
• Claim processing and Reimbursement take months
  Most individuals who do not have health insurance feel that insurance companies take very long to settle claims (which are not cashless) and also find frivolous reasons to deny settling what the insured believes is a genuine claim. If the insured files their claim accurately by providing all the relevant information on the claim form, submits all bills and documents pertaining to the hospital visit and treatment, there is no reason for the insurer to delay settling the claim. Most insurers in India process claims in a matter of 7-10 days from receiving the complete claim application.