a wake-up call

Every morning walk in my building complex, I see the same faces. Not a coincidence. These people built a real routine and stuck to it. I always want to know what got them started. So I ask, and the answer is almost always the same.

It was triggered by a random medical checkup.

They fell sick. Some tests were prescribed. Something was out of range. High cholesterol. Fatty liver. Blood sugar slightly off. Early signs of hypertension.

Nothing life-threatening. But enough to shake them.

This is a classic reactive way we all operate.

The better way is to get a preventive checkup done before a doctor even suggests it.

The problem is that preventive checkups require motivation. They’re never urgent, so most of us keep delaying.

A few years ago I found mine. I use the free annual checkup in my health policy like a time-bound coupon. Close to my policy’s renewal date, I schedule the checkup. At the lab, I add a few extra tests I want. My wife and I are done. Annual preventive checkup, sorted.

But most people with health insurance have never used this facility.

Many aren’t aware it exists. Some don’t know what tests are covered. And some are thoda worried that if something shows up, the insurer will use it against them later. I’ll address that in this email.

As Indians, we are generally not into preventive checkups (most of our parents dread going for one. But this is a real opportunity sitting unused in your policy. That’s why I’m writing this.

How to use this

First of course, find if there is a Free checkup in your policy. Most policies have some kind of free checkup.

Login into the insurers website or app, and find the medical test section. That’s it - just go and schedule a health checkup under your policy. If this is not available, just call their toll-free number.

You choose a centre, schedule the appointment, get the tests done cashless at the centre, and that’s it. The reports are shared with you, like any other lab report.

Some insurers may have a reimbursement system, where you can get the tests done from anywhere, in such cases, you will have to first get the tests done, then submit the reports and the bills, with a claim form. Here, your insurance advisor can help you.

6 things to check in your policy before you book

These conditions vary by plan.

1. How often can you use it? Some plans allow it every policy year. Others restrict it to once every 2 or 3 years.

2. Check if there is a waiting period? Some plans allow it from Day 1. Others make you wait until the 2nd or 3rd policy year.

3. Do you need a claim-free year to be eligible? Some plans require that you haven’t filed a claim in the previous year (or two/three consecutive years).

4. Is there a cap on how much the insurer will pay? Some plans cover a fixed list of tests. Others set a rupee limit on checkup expenses.

5. Can you go to any lab or only network centres? Some insurers only cover checkups at their empanelled centres. Going outside the network may mean no coverage at all.

6. Cashless, reimbursement, or both? Know which option your plan allows before you book. If you have a choice, pick cashless.

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What’s the catch? Why do Insurers offer a free checkup?

Most people don’t trust insurance companies in general, and hence are suspicious about the free checkup. They worry that this is a way to get information, so that they can reject claims or hike premiums in the future?

Here’s the real answer:
There are two reasons behind insurers offering free medical tests

1. They know that insurance is not a frequently used product. They want to remain engaged with customers every year with this free service.

2. Second, and more importantly, they know it triggers the morning walks, the reality check we started this email with. It’s proven that people who get tests done, become more aware and hence take care of themselves better (fewer claims). This becomes a win-win for you and the insurer.

And yes, as per regulations insurers cannot change the terms of your existing policy based on any new illnesses, conditions, after the policy is bought, including those found through the free health checkup. Your sum insured stays the same. Your coverage stays the same.

Before I go, I wanted to share something.

Beshak’s unique business model was picked up as a management case study at National Insurance Academy (NIA) - India’s apex institution for insurance training, setup by Ministry of Finance.

Seeing the curiosity around the Beshak model among management students was genuinely exciting. Learned a lot from the session too.

Regards,

Mahavir
Founder, CEO
Beshak
mahavir@beshak.in

PS: Thank you for reading this entire post. I am genuinely curious to know if you are finding these newsletters useful? Do let me know by replying to this email. Also, if there is a specific topic you want me to cover - I am listening :)