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Module Units
- 1. Introduction
- 2. Important Points About Health Insurance
- 3. Health Risks
- 4. Importance Of Health Insurance
- 5. Why Do You Need Health Insurance?
- 6. Health Insurers
- 7. Different Types Of Health Insurance Policies In India
- 8. Mediclaim Policy (Group / Family Floater And Individual)
- 9. Third-Party Administrator
- 10. Benefits Of TPA To Policyholders
- 11. Benefits Of TPA To The Insurance Companies
- 12. Buying And Maintaining Health Insurance
- 13. Online Policy Renewal
- 14. Important Considerations Regarding Health Insurance Portability
- 15. Benefits Of Health Insurance Portability
- 16. Individual Health Insurance
- 17. Family Floater Insurance
- 18. Example Of Individual Health Insurance Vs Family Floater Health Cover
- 19. Critical Illness Insurance
- 20. Important Considerations While Buying Critical Illness Insurance
- 21. Maternity Insurance
- 22. Senior Citizen Insurance
- 23. Important Aspects Of Health Insurance
- 24. What factors Impact Health Insurance Premium?
- 25. Cashless Hospitalisation
- 26. Day Care Treatment
- 27. Pre & Post Hospitalisation
- 28. Grace Period
- 29. Claim Settlement
- 30. Free Look Period
- 31. Waiting Period
- 32. Tax Benefits Of Health Insurance
- 33. Conclusion
Claim Settlement
The ultimate aim of buying any kind of insurance, including health insurance policy, is timely settlement of the policy. While there may be many factors based on which you determine the worth of any insurance company, one must not ignore to look into the claim settlement ratio (CSR) of each company over the past few years before zeroing on any particular policy. The CSR is the ratio of the number of claims settled by the company to the number of claims raised by its customers during any particular year.
One must opt for an insurance company reputed for its easy, claim settlement process. This is because the purpose of buying health insurance is to ensure that the medical expenses incurred on the treatment of the insured are ultimately paid off by the insurance company. Rejection of the claim owing to certain unforeseen conditions or some hidden clause written in fine print will not only result in the insured having to pay the bills on their own but also the loss on the amount having paid as premiums to the insured company till the date of making the claim.
Before opting for any insurance company to buy health insurance, it is important to study the company’s CSR that reflects the ability of the company to settle the claims raised by its customers. A higher value of the CSR means that the number of claims fulfilled by the company is on the higher side, which implies that there are greater chances of your claims being paid by the insurer, if and when required.
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