A Medical and Health Insurance (MHI) policy is generally designed to cover the cost of private medical treatment, such as the cost of hospitalization and healthcare services, if you are diagnosed with covered illnesses or have had an accident.
The coverage is provided by a licensed insurance company, in exchange for which you pay premiums. Make sure that you deal only with a licensed insurance company or its authorized agents or a licensed insurance broker when you buy a MHI policy.
EXCLUSIONS
An MHI policy also contains certain exclusions, just like other insurance policies. You must be aware what these are and if you don’t understand them, ask your agent or insurance company. Some common exclusions are the following:
- Pre-existing conditions
Conditions and illnesses experienced by you prior to applying for the policy. These conditions and illnesses would be excluded from coverage by your insurance company. You should check with your insurance company regarding the details of pre-existing conditions for the policy that you intend to buy.
- Qualifying/waiting period
You will not be eligible for any claim arising from any medical or physical conditions within the first 30 days of the cover, except for accidental injuries.