Introduction
Health insurance short term is provided by short term insurance companies to cover for medical expenses if one is admitted in hospital. It is synonymous to medical aid plan which is offered by medical aid companies in that it covers all medical expenses if you visit the doctor for any medical consultation as well as if you are hospitalized. The insurance policy is renewable each and every year.
History
Short-term insurance companies introduced this product to provide a wide choice to individuals to either take a medical aid policy with them, with life insurance companies, or with a medical aid company such as Discovery. The scope of cover, diseases covered, terms and conditions, and the panel of doctors will be as per each health insurance short term policy.
Features
What you need to know about health insurance short term are the insurance companies that offer this product, scope of cover, the diseases covered, panel of doctors, terms and conditions as well as the premiums that are charged. Health insurance short term is offered by short term insurance companies other than life companies, and it is important to first search for the exact companies that offer this product. Also, before taking this policy, you should first compare the costs and terms and conditions with life companies as well as with medical aid companies because the scope of cover is similar.
Health insurance short term policy is renewable every year. It covers any day to day in and out of hospital expenses, doctor’s consultation fees as well as if you are hospitalized. The extents of cover and the limits vary from one policy to another, and it is important to choose the best plan that suit your health status, marital status, and needs. Life and health short term cover is designed to cover individuals and families, and the premiums depend on your marital status.
Premiums are paid on monthly basis just like any medical aid plan and the limits and diseases covered are as per the terms and conditions of a particular policy. Some policies, for example, cover chronic diseases as well as free consultation and tests for HIV and Aids. Health Insurance short term has terms and conditions that you need to know before taking the policy. These terms and conditions include the specific waiting period, panel of doctors to be used when you take-out this policy, authorized hospitals, and all hospital admissions has to be authorized by the insurance company first before you are admitted. Other information you need to know is the maximum number of beneficiaries that you can add to the policy, their benefits as well as the additional premium. Finally, you need to be issued with a card and the policy document listing all the beneficiaries to the policy
Tips and comments
Health Insurance short term is provided to individuals and companies. Ideally, group schemes are relatively cheaper and have other benefits like premium discounts as compared to individual policies. If you want to enjoy paying low premiums for maximum coverage, the group scheme is the best route. This can be done through your company or through an intermediary.
