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Eligibility Criteria to Buy Health Insurance in India
With rapidly changing lifestyles and deteriorating health conditions, investing in a health insurance plan has become essential. A health insurance or a medical policy is a safety net that protects your finances in case of medical emergencies.
But what are the health insurance eligibility criteria that a policy buyer needs to fulfil in order to get insurance without any issues? Read along to know those criteria. But before that, let us understand what a health insurance plan is.
What is a Health Insurance Plan?
A health insurance plan is a binding contract between the policy buyer and the health insurance company. Under the terms of the plan, the company promises to pay and provide assistance for the policy buyer’s medical expenses and needs.
This insurance covers a wide range of medical costs such as surgery, annual checkups, preventive checkups, doctor’s consultations and much more.
Some of the common types of health insurance plans include individual plans, senior citizen health insurance plans, family floater plans, etc.
Common Health Insurance Eligibility Criteria By Insurance Companies
Age Limit
Age is one of the most important factors that insurance companies consider before offering health insurance. The eligible age to apply for health insurance is between 18 and 65. Anyone younger than 18 may not qualify to purchase a plan.
Individuals below 18 can typically be covered under a family floater plan or as dependents on their parent’s health insurance policy. Similarly, those above 60-65 years may often opt for senior citizen health insurance plans that cater to their unique medical needs.
Pre-Existing Medical Condition
A pre-existing medical condition or illness refers to having a disease, like diabetes or high blood pressure, prior to purchasing medical insurance. In such cases, you might pass the mediclaim eligibility criteria but with added terms and conditions.
Moreover, people with pre-existing illnesses have to pay higher health insurance premiums for optimum coverage of their existing disease and any future health emergencies.
Medical Test Results
Several health insurance providers can ask you to go through various tests to decide the extent of coverage to be offered and the chargeable premium.
People diagnosed with any medical condition can also opt for customised health insurance plans according to their medical needs, such as critical illness insurance. Young individuals may not need to undergo testing, while those aged between 40 and 45 may be encouraged to create personalised plans to address their health risks.
Exclusions of Certain Diseases
Insurance companies often have mediclaim eligibility criteria that outline which conditions may not be covered under a policy. For example, insurance companies may exclude certain critical illnesses, medical treatments, procedures and therapies from their regular coverage.
Hence, when purchasing health insurance, it is essential to understand the exclusions that may apply to specific diseases to make an informed decision.
To Sum It Up
Health insurance is an absolute necessity in today’s date and age when healthcare inflation is on the rise. Even a small medical procedure can burn a hole in your pocket. Thus, consider buying health insurance as early as possible and make sure that you meet all the listed medicare requirements. This will not only provide financial security but also ensure access to quality healthcare when needed.
Meeting all necessary eligibility criteria will increase your chances of insurance approval without any trouble.
