United India Platinum Health Plan

It is a common misconception among people that health insurance is something they will need when they grow old. But as per data, individuals aged 19 to 35 years account for 42% of the health insurance claims. The two most common causes of these claims are infectious diseases and accidents. This is because of exposure to the external environment as the young and working population steps out more often than the older population. Hence this is the age when you will need and actually utilise your health insurance plan more.

United India Platinum Plan is an individual health plan meant for people between the age group of 18 to 35 years. Let us find out more about the plan.

United India Health Insurance Platinum Plan indemnifies medically necessary expenses arising due to a disease or injury subject to the terms of the policy. The plan offers default base covers and optional covers available on payment of an additional premium. Let us explore the features of the plan.

The base and optional covers offered under the policy are as follows.

Base Cover

• In-patient Hospitalisation expenses covers room, boarding and nursing expenses up to 1 % of sum insured, ICU / ICCU charges up to 2% of sum insured, doctor’s fees, OT charges and other medical supplies
• Day care treatments
• Pre and post-hospitalisation expenses covered maximum up to 10 % of sum insured

AYUSH treatment

• Domiciliary Hospitalisation expenses covered on a reimbursement basis
• Listed Modern treatments are covered in a range of 10 % to 75 % of the sum insured
• Cost of Health Check-up is covered maximum up to ₹ 5000 per person per policy year once in every 3 claim-free years

Optional Cover

• Road Ambulance Expenses are covered up to ₹ 2500 per person per policy period
• Daily Cash Allowance on Hospitalisation

The company will not reimburse or cover the expenses arising with respect to the following:

• Congenital Diseases
• Injury/ disease caused by an act of war, invasion, etc.
• Plastic surgery
• Spectacles, contact lenses, and hearing aid expenses
• Dental treatments
• Rest cure, obesity treatment, psychiatric disorders, infertility, sterility, and substance abuse treatments
• Diagnostic expenses
• Maternity expenses
• Changing treatment from one system of medicine to another system.

If an event occurs causing the need to raise a United India Health Insurance claim, the insured shall notify the company in writing providing all relevant information related to the claim.

For cashless facility

• Inform the TPA 48 hrs before planned hospitalisation with your policy details and details of the hospital. In case of emergency hospitalisation, inform the TPA immediately on admission.
• Once the insured is admitted, the hospital sends a pre authorization request for cashless to TPA duly signed by the insured and the concerned hospital authority with all details of the treatment.
• Provide all the information as required by the TPA
• Once all the information is verified and the pre-authorization request is approved, the hospital bill will be settled directly by the company on discharge.

For Reimbursement Claims

• First step is to notify the company about the hospitalisation
• Provide all the relevant documents such as discharge summary, hospital bills, tests, prescriptions, doctor's certificate, etc. to the company within 7 days of discharge along with the duly filled claim form.
• Once all the documents are verified, the insurance company will accept or reject the claim.
• On approval, the company reimburses the claim amount within 30 days after receiving all the supporting documents.

Supporting Documents

• Claim form duly signed and completed
• Treating doctor’s certificate with details of diagnosis, treatment, medical advice, test reports, and medical prescriptions.
• Medical history of the patient, medical bills, and payment receipts
• Discharge certificate from the hospital
• Cash memo from the diagnostic centre/hospital
• Payment receipts from doctors, specialists, and surgeons
• Bill, receipt, sticker of the implants
• Any other document needed by the company.

If you have ever noticed, you will find that the cost of a health insurance policy purchased by an individual in his mid-twenties is much cheaper than the cost of the same plan purchased by someone in his fifties. Why does this cost increase with age?

There are many reasons for this change in price. Keep reading if you want to know.

Health Changes With Age

• With continuous usage, a machine will start having wear and tear. The same is the case with our body, as we grow old, our body also starts showing signs of wear and tear. We fall sick more frequently, some people develop lifestyle diseases, and some people start developing symptoms of hereditary conditions. All this leads to increased healthcare and medical expenses. So with age, the risk of medical emergencies increases, and therefore the premiums of health insurance plans also increase.

High Chance of Raising a Claim

• With high risk there are greater chances of raising a health insurance claim. Hence insurance companies charge high premium rates and senior citizens have to pay a higher amount to stay covered. On the other hand, young people are healthier and might not need to raise a claim, so their premiums are low. In order to enjoy coverage at a low premium, it is advisable that you purchase a United India health insurance plan at a young age.

Pre-Existing Diseases

• In old age, the coverage becomes expensive because of pre-existing diseases such as diabetes, hypertension and heart ailments which are pretty common in senior citizens.

Rising Medical Inflation

• Medical inflation in our country is at an all-time high, and this will increase further in the future. The best way to deal with soaring medical costs is to get health coverage as soon as possible. Old age further adds to the costs, so it becomes costlier even to get basic health coverage after a certain age. So it is not just your age that is increasing but medical care costs are also and so you need to be prepared for the future.

These are the reasons why elderly people have to pay high premiums for their health insurance.

Buying insurance at a young age does not mean that your premiums won’t increase. It will increase as you grow old but there are some benefits of buying a health insurance policy early in life.

• There is no guarantee that you will never fall sick when you are young. Anyone can fall sick at any age, and hence having health insurance will protect you financially in case you fall sick or have an accident.

• It is easier to purchase comprehensive health insurance at a young age because you need not undergo any medical tests.

• You have ample choices of insurance coverage when you are young. With more options, you can make better choices and have the best possible coverage.

• You can avail yourself lifelong renewability when buying health insurance at a young age.

• You get the maximum benefit of No Claim Bonus for all the claim-free years as it increases your sum insured and you get higher coverage at no extra cost.

• When you buy a policy at a young age, the waiting periods under the policy are over by the time you need to utilise the coverage.

• You can have coverage for your whole family in the future. This will help you in times of any medical emergencies early in life and will protect your savings. This also aids in financial planning for your future goals.

• Many health insurance companies reward you for maintaining good health and provide support for preventive healthcare. So in a way, health insurance can help you develop healthy habits at a young age.

• Health insurance also provides tax benefits, so if you take a plan at a young age you can enjoy tax benefits for a longer period.

It is clear, that having health insurance at a young age will help you get the maximum benefit from your coverage. The sooner you realise, the better it is for you to start financial planning. Individual health insurance plans are the best option to avail at a young age, which can be later upgraded to cover your family. United India Platinum Plan is the perfect individual health insurance plan for young individuals who are looking for affordable health coverage for themselves. The plan can be continued at later ages also, provided it is renewed continuously. There are optional covers available to enhance the coverage on payment of an additional premium.