A Topic extremely close to my heart and cause is that of health Insurance. Having being a victim of a serious accident and having deal with the agony of the pain of surgery; emotional and financial trauma is never easy!
We all have at some point ourselves, or have known a family member / friend / associate who has been through the process (pre and post ) of hospitalization. I am going to try at no point in this read to harp on the need of Health Insurance , what I’m going to do instead is introduce you to a few people I know who went through several experiences on their Health Policies ( some in the presence of having them and some in the absence .
- I had a freak accident at the age of 22, at the risk of sounding too dramatic they were 4 weeks from hell. On a two wheeler, almost run over by a disgruntled bus driver and ending up with 2 surgeries on your left foot is never easy. This involved huge costs.Costs that honestly we weren’t prepared for. You can never ever be prepared for such a situation.In the absence of an employer provided Health Insurance ( which we all hopelessly rely on) I was in a situation. A situation that we were saved from cause of my mothers wisdom( listen to the mother,she is always right), It wasn’t a huge amount for its time,and not even one of the fancy products that we have now days, a basic health insurance from a public limited company.
The process of claiming my bills were awfully painful! It took 6 months for the policy to come through and I received about 80% of my bill amount. The lessons I learnt were
- Have a health insurance for a realistic amount. Medical costs are very high, find out costs of actual procedures and insure an average amount.
- Preferably take a cashless cover. Cashless insurance reduces the pain of the wait.
- be in touch with your agent, they really help process the claims.
- Another instance I am going to share is of someone I know very closely. At the age of 39 with a 4 year old daughter, Shaunak has been a source of inspiration for me. To be an entrepreneur is never easy. The perks / benefits of a cushy job always hold people back from starting a route of their own. He isn’t one of them, he has this passion and joy that rubs off on all those around him fairly soon.
However, him getting at a heart attack at the age of 39, has been a shocking incident for all those who know him . Yes he has a health insurance, unfortunately , one that was in the grace period. He has survived and is coping very well and has comfortably taken care of all the bills. But one thing he said to me has stuck on “I WISH I RENEWED MY HEALTH INSURANCE ON TIME”
Lessons he and I learnt from his case:
- The grace period of your policy does not hold any benefits.
- Renew your health insurance in time, grace period is only to ensure revival of the policy.
- Let me repeat, if you have a cover of 5L and your policy is in its grace period, you will not get any benefits on the same in case you are hospitalized.