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Thursday, September 15, 2022
Second Opinion Cover in Health Insurance – Meaning and Importance
A second opinion is always welcome in all areas of our lives. As humans evolve, they feel the need to seek guidance from different sources and then make an informed decision. To support this human nature, health insurance policies too now provide for a second opinion cover in case of critical illnesses. Read on to know more about how it can help save costs.
When it comes to receiving treatment for a critical or terminal illness, such as cancer, heart stroke, brain stroke, or kidney failure, anybody is likely to think twice before going ahead with the suggested treatment. This is because the treatment options for such health conditions come at a huge cost, which needs to be borne by the patient and their family. Of course, with health insurance, a large chunk of these costs can be saved; however, that is often not the only problem.
With huge advancements being made in the field of medicine every single day, the treatment for several critical illnesses in India is also undergoing tremendous change. For instance, chemotherapy may not be the only prescribed treatment for cancer. Yes, your doctor may be prescribing it but your awareness of other treatment options may be pulling you in another direction.
A voice inside you may be urging you to take a ‘second opinion’. And you rightly deserve so. After all, it is the question of treating a terminal illness, which also comes at a huge price. However, the problem now arises that seeking an alternate opinion or line of treatment for the condition may also involve huge costs that may burn a hole in your pocket. So do health insurance plans provide any facility to cover costs for second opinion for such diseases?
Why Do You Need a Second Opinion?
As discussed above, sometimes you may feel the need to take consultation from another doctor in the hope that they may suggest a better treatment option. This is particularly true in the case of diagnosis of some critical or terminal health problems. Cancer, liver and kidney damage, heart attack, and the like are some examples.
The treatment for these health conditions is both prolonged and highly expensive, owing to their critical nature. This is why most patients prefer to consult another doctor for a “go-ahead” as a form of reassurance before proceeding with any treatment. However, this also means that the diagnosis procedure, coupled with the consultation fee for the second doctor as well as the treatment expense (in case you wish to continue with them) would be a huge amount.
4 reasons why you should always consider taking a second opinion for critical and terminal illnesses:
- Different perspectives provide more clarity: The treatment for critical diseases often involves some harsh side effects on the body. For instance, the effect of chemotherapy on a cancer patient. This is why it helps to seek another medical opinion in the hope that another professional may be able to suggest an alternative line of treatment that is less harsh on the body.
- Different treatments for the same condition can provide better results: Sometimes one doctor may suggest the traditional line of treatment that has been going on for years. However, with advancements in medical science, there are newer treatment options being introduced for certain chronic diseases, which are proving to be equally effective. By seeking a second opinion, you can choose to follow a combination of treatment options for better, and sometimes even faster, results.
- Gaining more knowledge on the condition helps: When you speak to different doctors, they are bound to have a different point of view on the same chronic condition. This can help you gain more knowledge on the disease and more information always helps. You will be able to better learn not just about the treatment options but also some lifestyle changes that can help control progression of the illness.
- Getting a specialist opinion helps: In case of chronic health conditions, you would require a specialist’s view on the illness. A physician would be able to diagnose the disease and offer treatment for immediate relief of symptoms. However, a specialist would be able to better guide you on how to proceed with the treatment so that the symptoms and also the illness in general can be controlled from progressing to advanced stages.
Does Insurance Cover Second Opinions?
Now we already know that it is highly recommended for everyone to buy a health insurance policy because it safeguards us against such unexpected and highly expensive medical care costs. But does it also provide cost protection for second opinions which can be equally expensive in some cases?
Yes, there is a provision under health insurance plans to cover second opinion health care costs in case of some critical or chronic diseases. This cover is usually provided as an add-on benefit to the base insurance policy. However, you may need to check with your insurer about this cover benefit before purchasing a health insurance plan. This is because not all insurance companies offer the second opinion cover as part of or as an add-on cover to base plans.
Also, some insurers may provide cost coverage for second opinions only in case of specific health ailments. Hence, it is always a good idea to check with your specific insurance provider and ask, “does medicare cover a second opinion?”
What is Covered Under the Second Opinion Cover in Health Insurance?
The treatment costs for chronic diseases are generally high and sometimes unaffordable for a common man. Hence, most insurance companies, in view of this concern of their customers, provide them the additional benefit of a second opinion cost cover.
This means that the patient (in whose name the policy is taken) can take a second opinion for their critical ailment anywhere in India without worrying about the costs. The insurance company would pay for the second opinion costs involved, without costing a single penny to the patient. In addition, the current sum insured under the plan would not get affected for the policyholder.
Note that this benefit is usually provided to every insured policyholder once a year in case of any chronic or critical illness. However, please check with your insurance company about their provision terms before purchasing the plan.
Read More: Types of health insurance policies in India
What Diseases Does the Second Opinion Benefit Cover?
Some insurance companies would provide free-of-cost second opinion benefits to their policyholders only in case of some chronic, terminal or critical health conditions. The following diseases are usually covered under this benefit (but again do check with your insurer before signing up for the cover:
- Multiple Sclerosis
- Last-stage Renal failure
- Last-stage Lung failure
- Cancer
- Coma
- Major organ transplantation
- Motor Neuron Disease
- Complete blindness
- Coronary Artery Bypass Graft
- Tumors
There may be more health conditions covered under some insurance plans, which you can check with your insurer once.
Note: In some cases, an international second opinion cover benefit is also provided by some insurers. This helps the patient to seek consultation with a doctor outside of India in case they’re uncertain about the diagnosis or treatment option to proceed with. However, your insurer may ask for a higher premium than usual for this benefit.
Wrapping it Up
When it comes to your health, there are no second chances that you can take. This is why it always helps to take a second opinion instead from a medical professional to remove all doubts. And when health insurance can cover the additional costs incurred on the diagnosis and treatment of the condition, following the second opinion, you can proceed with it without a worry. Look for the best health insurance in India that can offer you this benefit and get the best treatment for your condition.
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
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What are the Pros & Cons of Changing Your Car Insurance Company?
Pros & Cons of Changing Car Insurance Company
Car insurance is a vital aspect of car ownership. If you have a car, you must have car insurance. But do you know that you can change your insurer if you are not happy with your current insurance company?
Road emergencies are unforeseen and no one can predict them. Insuring your car against road emergencies is crucial. Moreover, the third-party liability car insurance being a mandatory feature of India’s Motor rules, having a car insurance is unavoidable. Thus, everyone with a car buys insurance without fail. However, there might be instances that you bought a car insurance policy and later realized that you are not happy with the insurer and want to switch. So, what options do you have in that case? Can you change the car insurance company? If so, what are the pros and cons of changing your current car insurance company? Let us find out the answers to all such questions in this blog.
Why you should switch your car insurance company?
Since car insurance is an obligatory thing that a car owner must have, it is better for every car owner to search for the best car insurance companies. Thus, they can ensure to get the most affordable and value for money car insurance policy to suit their requirements completely.
4 reasons why you could look for switching your insurer to the best car insurance in India:
- For enhanced coverage and benefit – You may switch to a new car insurance company if they are offering better benefits of coverage at the same premium that you are already paying. You can visit Paybima.com to search and compare different policies offered by different insurers and buy the best plan at your budget.
- For better network garages – If your current insurer has a limited number of network garages that makes repair a difficult task, you may choose to leave the insurer to find a new one with a wide number of network garages.
- If you change location – If you have a transferable job or you have shifted for any other reason, you may like to explore options as per the requirement in the new location and change your insurer to move to a new one.
- Poor customer service – If the current insurance company is not offering better customer care service, which in most cases is a common problem, you may switch to a new insurer. This way you can avail better, immediate and 24/7 customer assistance with the best car insurance company in India.
4 Guidelines to Switch your Car Insurance Company
- Compare multiple plans and buy the best one – The first guideline is to look for the best car insurance plan by making a comparison of policies in PayBima website. This way you get to see multiple deals from multiple insurers in one spot.
- Know the past records of your insurer – Before you seal your car insurance policy deal, try to find out the different important aspects of the insurer you are planning to buy the policy from, such as the claim settlement ratio of the insurance company. Check their social media handles to find out if they are trustworthy and capable of settling your claims when required. Read customer reviews and feedback. Don’t just settle for ‘cheap’ insurance plans, rather pick the policy that suits your needs as per your budget.
- Look for maximizing your coverage – A third-party car insurance can suffice you in taking care of the third-party liabilities. However, you also need to check your own car requirement in case of any damage. Hence, it is better to choose a comprehensive car insurance plan to get the maximum enhanced coverage.
- Inform current insurer before cancelling policy – Yes, you need to inform your current insurance company at least 30 days before you cancel your current plan. You must send a written application to inform them and to notify them to cancel your current policy.
When to inform the current insurer about the intended switch?
A 30-day notice period before cancelling the policy is required to be given to your insurer in case you intend to switch to a new insurer. Your current insurer might try to retain you by offering a lucrative deal like lowering your car insurance price during this time and to make you change your decision.
Will the insurer levy any cancellation charges for switching?
It depends on when exactly you are planning to switch. If you are switching the insurer in the middle of the policy term, you may have to pay the reimbursement of your premium on pro-rata. However, if you are taking your time and switching your policy at the time of plan renewal, you do not required to pay anything to your insurance company.
Read More: Easy Steps to Switch Car Insurance Plan
Cons of Changing a Car Insurance Company
Here are some cons you may like to know before planning to switch your car insurance policy:
- There are chances that you may miss out on certain good deals if you leave your current insurer to get hold of a new one
- If you already have a trusted relation with your current insurer, you may take time to build that kind of bond with the new provider
- Also, some insurers even lower the premium amount in case the policyholder thinks of switching the plan. If you do not consider that, you may miss out on taking advantage of that opportunity
Switching your car insurance company has both advantages as well as disadvantages. It is essential for everyone planning to switch his/her car insurer to keep a note of both the aspects before strategizing the move.
To Conclude
There are numerous car insurance companies offering several policies. Hence, it is always recommended to check car insurance online and look for various options available. You must compare plans to ensure that you buy the best and most suitable policy for your car. Here you can use a car insurance calculator to calculate the premium you need to pay for different policies.
However, don’t keep your car uninsured while you search for the best offer. Make sure to insure your car as soon as you purchase it. If not insured, you might be levied with fines by traffic police for driving an uninsured car.
Found this post informational? Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance and Investment section. You can visit PayBima to Buy Insurance Online.
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