While it is essential to have yourself and your relatives covered under an extensive medical coverage strategy considering the COVID-19 pandemic, it is similarly critical to reestablishing your current cover inside the due date.
You can just take the different advantages offered under a health care coverage strategy if the cover is substantial and has not passed because of disappointment in the restoration of the arrangement. By reestablishing your medical coverage strategy inside the due date, you can keep every one of the advantages unblemished. Likewise, while restoring the strategy, there are a couple of variables that ought to be given due thought to improve your arrangement’s inclusion and make it amicable and extensive. Allow us to take a gander at a portion of the viewpoints that require your due consideration.
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Review of the sum
Unfortunately, over the last few years, Nigeria’s healthcare inflation has been rising steadily and at an alarming pace. In fact, the medical inflation rate is double the overall retail inflation. To make sure that all your expenses are met in case of any hospitalization, it is important to have a health cover with an adequate sum insured. If you opted for a plan with a lower sum insured while buying the health insurance, you can enhance the coverage by increasing the sum insured during renewal.
To determine the right sum insured for your family, it is important to take into account previous claims and the current health status of lives insured. Considering the current scenario and the prevailing conditions due to COVID-19. In case your current insurer refuses to enhance the sum insured, you have the option of porting your health policy to a different insurer. You also have the option of buying a super top-up plan over the base plan to enhance the coverage of the existing plan.
Many people reestablishing their health care coverage plans have a bogus discernment that it is simply critical to unveil your previous conditions to the guarantor while purchasing a new wellbeing strategy and not during recharging. Be that as it may, this isn’t accurate. According to most safety net providers’ terms and conditions, it is essential to reveal your prior sicknesses during the two situations – purchasing a new strategy and at the hour of restoration. On the off chance that you are determined to have any new illness during the strategy residency, do educate about something very similar to the safety net provider at the hour of restoration.
This will help in the smooth processing of your claim without any hassles. If you fail to disclose your pre-existing conditions, the insurer holds the right to reject your claim request. Being transparent will be beneficial. It will help you process your claim with ease and help buy a plan that offers coverage without any mandatory waiting period.
It is important to disclose your pre-existing ailments because, in the future, if you decide to port, and your current condition is mentioned on the proposal form, there will be no fresh waiting periods for that disease. However, if it is not mentioned, then fresh waiting periods will apply for that disease. There are no plans available in the market that come with a zero-day waiting period for illnesses as critical as diabetes, asthma, hypertension, and several common CVDs.
Review of the existing features
If you bought your health insurance cover 5-6 years ago, chances are the cover lacks several key benefits. In the last few years, insurers have come up with several new-age health insurance products with customer-friendly features and benefits. While renewing your health insurance plan, it is important to make note of all the features and benefits that your health plan lacks and port to a better plan, if need be. You can now easily port to a better health plan without losing the continuity benefits. You must switch to plans that have zero co-payment and no-sub limits on various procedures. In addition, at the time of renewal, look for some important add-ons such as OPD coverage, daily cash benefit, and zone upgrade, which will make your plan more comprehensive given the current circumstances.
