In today's time, buying a health policy has become a necessity for everyone. It is possible that you too have been thinking of buying a health insurance policy for a long time, but due to the different types of policies, you are not able to decide which policy should be taken. In such a situation, everyone does not understand the 'Terms and Conditions' associated with the policy. At the same time, before purchasing a policy, it is important to understand which policy is capable of meeting your needs and what are the things that can be ignored.

Waiting period

While purchasing a health insurance policy, you must understand the rules related to waiting period. At the same time, it is a period during which you cannot file your health policy claim. In addition, there are generally three types of waiting periods. Under this, if you have to be admitted to the hospital within the first 30-90 days of taking the policy, your claim is not accepted in other cases except accident. Apart from this, for many pre-existing diseases, surgery also you have to serve a waiting period of a certain period. At the same time, this period can be between 12 months to 48 months. In addition, health insurance companies have different waiting periods for certain diseases. The rules related to waiting period also vary for pregnancy.

No Claim Bonus (NCB)
If you do not make any claim then companies give you a no-claim bonus. Generally, if you claim up to a maximum of 50 percent in a year, then companies increase the amount of your insurance cover by up to five percent. Currently, different insurance companies offer different NCBs. It is important to understand the rules related to this so that you do not face any problem while taking the claim.

Free-look period
If you have purchased the Health Insurance Policy on the advice of someone and later you feel that the terms and conditions of the policy are not according to your needs then you will get upset. Free-look period is used here. Almost all insurance companies give you the convenience of returning the policy when you buy an insurance policy. At the same time, this period is usually 15 days to 30 days. In such cases, the insurance company refunds the remaining amount of premium excluding the expenses incurred in tax and medical tests.

Co-payment
Many types of policies come with a co-payment clause. This means that if you file a claim, you will have to pay a part of it yourself. You have to pay this amount yourself. For example, if you have filed a claim of Rs 20,000 and according to the co-payment clause, you have to pay 20 percent, then you will have to pay four thousand rupees from your pocket. The insurance company will pay the remaining Rs 16,000.

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