First-time health insurance buyer? 7 smart tips to choose the right policy and avoid costly regrets
Choosing a health insurance policy requires careful consideration of key factors. By understanding the details in your policy document, you can ensure adequate coverage and a reliable insurer. If you’re buying health insurance for the first time, you should consider these 7 key factors while choosing the right health policy so you don't regret it later.
Porting vs migrating in health insurance: What’s the difference?
Dissatisfied health insurance policyholders can change their plans through migration or porting. Migration involves shifting to a new plan with the same insurer, carrying over accrued benefits like waiting periods. Porting allows moving to a different insurer, also transferring benefits, though it's like a new purchase with potential rejections or higher premiums.
Single trip vs. multi-trip: Which travel insurance should you go for?
International travel insurance is crucial for financial protection against unforeseen events like medical emergencies or lost baggage. Travelers must choose between single-trip and multi-trip policies, considering their travel frequency, budget, and trip types. Making an informed decision ensures adequate coverage and peace of mind for any international adventure, preventing potential financial losses.
What is ‘Cashless everywhere’ facility in health insurance?
The General Insurance Council (GIC) introduced 'Cashless Everywhere' on January 24, 2024, aiming to extend cashless facility to non-network hospitals. Patients must inform insurers 48 hours before elective procedures or within 48 hours of emergency admission. However, due to the absence of official notification from IRDAI, hospitals' adoption remains hesitant, potentially limiting its practical availability for policyholders.
Life Insurance vs Health Insurance: Understanding the difference in 2025
Life and health insurance are vital for financial security, yet distinct in purpose. Life insurance offers financial support to beneficiaries upon the policyholder's death, ensuring long-term stability for dependents. Health insurance covers medical expenses, including hospitalization and treatment costs, providing financial relief during health crises. Understanding their differences is crucial for informed decision-making.
