Medical or health insurance is taken out to cover the cost of medical care expenses due to an illness or accident that could be related to hospitalisation costs, cost of medicines or doctor consultation fees; this cover may be on a cashless basis or reimbursement basis or co pay basis. It may cover the whole or a part of the expense depending on the agreed terms with the insurers.
Plans available are individual plans or corporate/ group plans/ family plans/ senior citizen plans
Service providers – Health Maintenance Organisations (HMO), Insurers with listed preferred hospitals/clinics
comprehensive policy usually covers delays, cancellation due to sickness or death, lost luggage and some emergency medical costs.
You should consider your medical needs, budget, and preferred doctors and hospitals when choosing a medical insurance plan.
A deductible is the amount you pay out of pocket before your medical insurance coverage kicks in. A higher deductible typically means a lower premium, but you will pay more out of pocket for medical expenses.
It depends on the medical insurance plan. Some plans have a network of doctors and hospitals that you must use to receive coverage, while others allow you to choose any doctor or hospital.
You can typically file a claim with your medical insurance provider online, by phone, or by mail. You will need to provide documentation of your medical expenses.
IIB are insurance professionals and experts. By engaging IIB you get value for money in respect to the insurance covers you purchase.
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