What factors to consider when taking a health insurance? The following are the factors that need to be considered when taking a mediclaim or health insurance. Pre and post expenses:  The policies usually have a time frame under which the expenses are covered. You should see for how many days prior to diagnosis of illness and for how many days post diagnosis the expenses are covered. A good policy will cover 30 days pre-illness to around 90 days post illness expenses for a claim. Premium: There are many companies that offer these insurance policies, however you will notice that the premiums for the same sum assured will vary from company to company. Therefore, you should do a prior research about the premiums and then look for where you can save money. Bed or per day room charges: There are policies that will mention that we cover the hospitalisation expenses only if you use the general ward, however, better services are provided to people with private rooms. So, read the documents ...

What is insurance and what type of insurance you should aim to take? What is Insurance and what is the purpose to have one? Insurance is a contract between an individual or a company and an insurance company to make good the losses incurred if any in case of death of the policyholder or damage/destruction of the property of the policyholder. The policyholder needs to pay a small amount of premium for the promise of the insurer. What makes this kind of contract possible for an insurance company is the contingency of the event covered under the insurance policy. Since only a few policyholders end up claiming the insurance, the insurance company is at a profit and it's a win-win situation for both the insurance company as well as the policyholder. One thing which is of concern is that the discretion to provide with the insurance solely lies with the insurance company. Usually, applicants who carry a high risk of the contingency being occurred are not given insuranc...