Good health is good for Insurance and vice versa

Here we go again: telling and retelling the benefits of good health. Wait, but this is no sermon, read on to know why having a good health is good for your Health Insurance…

Sonu and Monu are good friends; you could say they are nappy buddies. With the same school, same class, same hobbies and same locality there was little that could distinguish the two of them.Now that they are adults they are still living identical lives, there is only one difference. Monu is no longer the playful and fit self, his health has taken a backseat over his career and the signs are visible. Sonu on the other hand has pledged to take good care of his health after seeing his father die early. Sonu looks fit and five years younger than Monu today!

After discussion on health one day, they decided to go for a Health Insurance policy. Here is what happens next…

Sonu and Monu both undergo test before they buy a good health insurance. And the results are as expected; Sonu’s results are great while Monu is detected with Diabetes. Both of them then fill their results in the proposal forms.

The Insurance Company gives full coverage to Sonu but as Diabetes is a pre-existing disease for Monu, that particular company denied him coverage. Later Monu managed to get an Insurance company to cover himself but Diabetes remained as a pre-existing disease.

Three years later, Sonu still had to file a single claim hence enjoyed ‘no claim discounts’, which reduced his premium. On the other hand, Monu had already claimed the entire insured amount twice in three years and was loaded an amount for it.

One year later, Sonu was offered to undergo free medical checkup as he didn’t claim even once; while after claiming for the three years straight, as per the policy terms, the Insurance Company discontinued Monu’s policy.

Sonu got the cover for his life, while Monu had to remain uninsured for period of time before getting another Insurance Company to cover him.

The Conclusion: Be like Sonu – Fit and Smart and there is no reason why you won’t be covered or enjoy the benefits of the Health Insurance and if you are like Monu- Careless about health, you will miss on the benefits of medical insurance. Remember- Buy a Health Insurance when you are healthy or buy early to prevent problems later on.

Here is the table explaining the possible outcomes of good versus bad health. All the terms conditions for them are not mentioned and both good health and bad health are taken in extreme parameters, but it is indicative of the possibilities.

Now, how is Health Insurance good for your Health?

When you are aware of the fact that all your medical costs are going to be paid by the Insurance Company (if it is within the insured amount and valid) you can forget about the cost of the treatment and focus on the quality of the treatment and where to get it from. Hence health insurance ensures that you get the best possible treatment possible.

• During emergencies just flashing the TPA or health Card will get you hospitalized and you can avail the Cashless service. Thus the precious time between finding a hospital and getting admitted is reduced.
• Diseases, illness and hospitals in general bring in stress. Having a health insurance policy helps in relieving some of the stress as all financial aspect is taken care of.

Having good health ensures that you get complete coverage and can get full benefits of Health Insurance. Also ensuring that you get a benefit of medical insurance cover early would help to preserve your good health.