Lawstreet Journal

24-Hour Hospitalization Will No Longer Be Mandatory for Insurance Claims

Lawstreet Journal 30 Jun 2020 10:14pm

Image courtesy: Lawstreet Journal Business 24-Hour Hospitalization Will No Longer Be Mandatory for Insurance Claims

According to insurance experts, the 24-hour hospitalization policy could soon end to reap the benefits under an insurance policy. The insured should, as of now, be admitted to a hospital for at least 24 hours to make use of a claim.

"The coronavirus has brought in a lot of changes in the health insurance sector and this is yet another change to cover treatment at home, we will see in the coming months," says Amit Chhabra, head- health insurance for Policybazaar.

"This is a welcome move and will not only increase the health insurance penetration in India but will also reduce the burdens on hospitals. This move is also beneficial for the insurers as covering home treatment will reduce the hospital stays which will eventually bring down the overall claims," he added.

There are other big changes taking place in the industry such as the introduction of new security devices, consumers beginning to find comfort in purchasing goods online, and others.

Given the extraordinary situation prevailing in the country, the government and insurance regulator have also announced several relaxations for customers.

Several insurance firms released different products related to coronavirus. Consumers now have more options with that when it comes to buying a health plan. One can either opt for a standalone healthcare plan or buy a full one.

Technical reasons behind 24HR Hospitalization: (First-person based Approach)

  1. It is the condition of all the Health Insurance policies in India to have 24 hours hospitalization. This is because the policy is meant for taking care of the hospitalization expenses incurred… Continue Reading...

    Tagged: Insurance Claims  
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