Health Insurance

In India, the prevailing health care scenario has not been of a high order compared to the developed nations. The kind of medical facilities that are provided by the governments falls grossly inadequate to meet the ever increasing needs felt by citizens. Hence, most often, people are dependant upon private medical facilities, which over the years, have become increasingly costly with the advancement in the field of medicine. This has thrown up the need for going for voluntary health insurance commonly named as Mediclaim Policy.

HOW DOES IT WORK?

Health insurance give the person a control over the choice of provider, facility and timing of treatment. It provides a general peace of mind that their medical expenses are covered. The policy provides for reimbursement of Hospitalization / Domiciliary hospitalization expenses for illness / disease suffered or accidental injury sustained during the policy period. The policy pays for expenses incurred under the following heads:

• Room, Boarding Expenses in the hospital / nursing home
• Nursing expenses
• Surgeon, anesthetist, medical practitioner, Consultants, Specialist fees
• An anesthesia, blood, oxygen, OT charges, Surgical appliances, Medicines and drugs, Diagnostic Materials and X-ray, Dialysis, Chemotherapy, Radiotherapy, Cost of Pacemaker, Artificial Limbs and Cost of organs and similar expenses.

Relevant medical expenses incurred during period upto 30 days prior to and period of upto 90 days after hospitalization are treated as part of the claim.

Household Insurance Policy

The most popular domestic insurance cover available in the Indian market is the Householders’ Insurance policy.

To an average Indian, home is a cherished and precious possession, not just in terms of money, but also in terms of the sentiments attached to it. Any loss or damage to the house or household goods would cause not only financial strain but also sentimental setback. Household insurance helps to mitigate, at least the financial losses, arising out of risks like fire, theft, natural disasters, breakdown of household appliances, personal liabilities.

**The particular risks covered under each section are:

• Household contents & building (cover for fire and allied perils)
• Household contents (cover for burglary, housebreaking and theft)
• Jewelry and valuables
• Plate glass
• Breakdown of domestic appliances
• TV, VCR
• Pedal Cycle
• Baggage
• Personal accident
• Third party legal liability & workmen’s compensation.

**Certain general exclusions are applicable to all the sections.