5 Essential Documents Required for Buying Health Insurance Policyby Selena Pinto General
There are many ways to purchase health insurance offline or online. The offline method involves purchasing through a licensed agent or visiting an insurance company’s branch office and buying the policy. Such a process is very obsolete and not ideal in today’s Digital Age. The online method is much more rewarding. It saves time and money as well. New and old health insurance companies are now focusing on the online platform to offer better health insurance policies and top-notch services.
Documentation required to purchase health insurance is dependent upon the type of policy chosen and the platform from where the policy is being purchased. For example, the extent of documentation in the online process is extremely low as compared to the offline method.
Here’s a list of documents that might be required for purchasing a health insurance policy.
1. Identity Proof
An individual health insurance plan is issued in the name of a person or group of people (for group policy). Thus, an identity proof might be required for authentication. The documents that can be accepted for this purpose are; Aadhaar Card, PAN Card, Driving License, Passport, Voter’s ID, etc. you might also be asked to submit your current photograph.
2. Age Proof
A health insurance premium is directly linked with the person’s age. Health insurance companies might ask for a valid age proof before insuring an individual. Any of the following documents should work as a valid age proof; Birth Certificate, PAN Card, Voter’s ID, Driving License, Passport, etc.
3. Address Proof
Insurance companies might need your permanent residential address in case their process involves sending hard copies of the policy or other relevant communication. You can submit the following documents as address proof: Ration Card, Telephone Bill, Electricity Bill, Passport, Voter’s ID, Bank A/C Statement, etc. Note that your name must be mentioned in the submitted document. If it is not mentioned (for example, electricity bill), it is better to submit a supporting document or another stand-alone document (for example, passport).
4. Income Proof
This is not a common requirement. Your salary slips would suffice if such a proof is demanded.
5. Medical Reports
Certain health insurance policies may not cover pre-existing diseases. They are diseases that a prospective policyholder has before purchasing a policy. To verify, insurance companies might want you to undergo some medical tests and submit the medical reports. The reports needed will be specific to the type of health insurance plan chosen.Most of these documentations we have and some can be easily asked for during the purchase of the Health Insurance Policy.
Created on Jun 24th 2020 08:55. Viewed 139 times.