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Showing posts from July, 2023

INDEMNITY HEALTH INSURANCE PLANS - HIGHLIGHTS & LIMITATIONS

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  Introduction Health insurance played a very crucial role in Mr. and Mrs. Sinha’s lives. Here is the true story of a senior citizen couple. Mr. Sinha is a retired person from one of the Maharatna Companies of the country's Central Public Sector Enterprises. Post-retirement, Mr. Sinha has a health insurance policy from his employer and he kept paying the premiums for it for the next few years post-retirement. But later on, he stopped paying premiums as he assumed that it was a waste of money since he had not encountered any medical emergencies until now. And the policy lapsed. Mr. Sinha was not in favor of reviving the policy, but his daughter continuously insisted to revive it, as she was an insurance professional and she knew the importance of health insurance at this age for them. Mr. Sinha revived his health insurance policy, which soon became a blessing for him when his wife got admitted to the ICU for a month during the COVID-19 pandemic. The sudden medical emergency did no