We all know that health insurance is a savior when it comes to settling hospital bills after getting any kind of treatment. These treatment costs are high and can put a dent in your pockets if you are not careful about it. Health insurance covers any medical costs that arise during the treatment of any illness.
These expenses include the consultation fees of a doctor, cost of medicines, cost of hospitalization, etc. It forms a safety net for you and your family so that you can fully focus on getting better. Did you know that you can have multiple health insurance policies?
Unlike other types of insurance, you can have multiple health insurance policies in your name. Read on to know the benefits of it and how you can file a claim under it.
How do you get multiple health insurance?
Getting multiple health insurance for yourself is completely based on your needs. You should analyze your health situation and understand the terms of your current insurance before you decide on the second health insurance policy.
If you do decide to get multiple health insurance- you can do it in two ways- Online and offline. The process is similar to buying the primary health insurance policy.
(You can use the insurance company’s website to make the purchase or get in touch with a certified insurance agent.)
Benefits of having multiple insurances-
1. Guarantee of claims
Sometimes the insurance company might reject your claim filing for various reasons and this can leave you in a stressful situation. If you carry multiple insurances, then other insurance policies can act as a backup if your claim is rejected by one insurance.
2. Higher coverage at a lesser cost
You can buy multiple health insurance policies that give you small cover instead of buying one that gives you big coverage. This way there are chances of you paying less than what you normally would and get the same amount of coverage. But you should apply due diligence and make the decision.
3. Diverse insurance portfolio
With multiple health insurance, you can have a diverse insurance policy portfolio and reap the benefits of being covered by different insurance companies. You can also have a workaround for the claim amount and the sum insured if you have multiple health insurance.
How to file a claim for multiple health insurance policies?
If your claim amount is more than the sum insured under one insurance company then you can file a claim for the excess amount under the other insurance company.
For this, you first have to approach your first insurance company and file a claim. After the claim is settled you have to take the claim summary and the hospital bills and approach the second insurance company for the remaining amount.
If you have multiple insurances under the same company then the paperwork for filing a claim becomes less. But you are subjected to various terms and conditions. This is why you must understand the policy conditions before signing the papers.
Having multiple health insurances is extremely beneficial and if you have the means you should opt for it. It gives you extra protection when you need it.