A Consumer’s Guide to Health Insurance

years, and for their child is 3 months. The maximum entry age for adult customer is 55 years and that of children is 17 years. The minimum annual premium payable for a single consumer will be 6 times the Hospital Cash Benefit or INR 5000 per year, whichever is higher. The consumer must first choose the respective levels of Hospital Cash Benefit for each member to be covered under the product. The sum assured under major surgical benefits will be 200 times of the Hospital Cash Benefit chosen by the consumer. The premium can be paid yearly, half-yearly or monthly. The premium payable under this product is also eligible for exemption under section 80D of Income Tax Act.

Health Protection Plus is a unit linked health insurance product, which is different from the traditional health insurance and is subject to risk factors. The premium paid in the policy is subject to investment risks associated with capital market, the Net Asset Values (NAV) may go up or down based on the performance of the fund, and factors influencing the capital market and the consumers are solely responsible for their decision. Therefore, the consumers must go through all terms and conditions and other factors before deciding on obtaining a health insurance that is most suitable.

There is a tendency on the part of many hospitals to overcharge a