How Reimbursement Claim Works

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How Reimbursement Claim Works
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• At the time of buying a general insurance
  policy one factor to consider is to keep in mind
  which mode of claim settlement you prefer one
  offering reimbursement claim or cashless claim.
• A reimbursement claim is where you make upfront
  payments out of your pocket and later seek
  reimbursement for it from the insurer. And a
  cashless claim is where insurer directly settles
  the claim with the service provider.
• For claiming reimbursement one needs to retain
  all bills, test reports and doctors
  prescriptions. One needs to approach the insurer
  as soon as possible.

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• On the one hand, a cashless claim limits your
  choice of service providers as you need to take
  services of only empanelled service providers. On
  the other hand, if you opt for reimbursement
  claim then you have freedom of choice regarding
  the service provider. For instance, in case of a
  health insurance policy, you can take treatment
  from your trustworthy doctor or in case of motor
  insurance you can get your car repaired from your
  preferred garage.

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• At the time of choosing reimbursement
  option, most probably one opts for affordable
  service providers as he had to make upfront
  payments so his sum assured does not get
  exhausted soon.
• So, keep these points in your mind while
  zeroing-in on any Investment insurance policy as
  making claim is the most important aspect of an
  insurance policy.

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• The plan is available exclusively
  online and is specially targeted at individuals
  seeking simple and guaranteed insurance
  solutions. The plan provides a steady return over
  the medium term while minimizing risk, and is the
  only tool in the market that covers the
  liabilities and provides money for a longer term
  to take care of the familys monthly expenses.

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• The plan provides an option of
  monthly income protection which provides a
  fixed sum of money until the retirement age and
  acts as a substitute for the salary received
  every month. With the rising prices of goods and
  services, the same income after ten years may not
  suffice to maintain the same lifestyle for the
  family, hence there is another option with
  inflation protection called Increasing Monthly
  Income Protection where the cover grows at the
  rate of 10 per annum even after the death of the
  life assured.
• The minimum entry age for the plan is
  18 years and maximum 55 years. The minimum
  maturity age for the plan is 28 years and maximum
  75 years (for non-smokers). The minimum policy
  term is 10 years.

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