Insurance Cover for Doctors: Benefits & Procedure to Apply

Insurance Cover for Doctors: Benefits & Procedure to Apply

According to reports published by the Indian Medical Association, approximately 75% of medical professionals have faced some form of harassment in their workplace from patients.

Most of the cases lodged by the family members of patients tend to have minimal credibility and are more often than not prejudiced. However, the litigation proceedings can be an expensive affair. 

Indemnity insurance for doctors can help such medical and similar other healthcare professionals gain financial protection against such legal expenses.

Benefits for doctors to have an indemnity insurance policy in place

  • Hassle-free and instantaneous claim disbursal

Renowned financial institutions ensure quick and easy disbursement of claim amount within 30 days of filing a complaint subject to terms and conditions as per the policy. Note that legal proceedings if covered under the policy terms may be disbursed in a shorter span of time. Refer to leading insurers for such indemnity insurance for doctors.

  • Customer support facility

24×7 customer support benefits allow medical professionals to report their grievances and get adequate resolutions quickly. Any discrepancy in the claim settlement process can be mediated in this method as well.

  • Substantial coverage benefits

Insurance aggregators provide financial assistance to meet all requisite expenses in the event of –

  1. Any damage to the health of a patient not owing to willful negligence on the part of the insured.
  2. Any expenses arising from breach of confidentiality or defamation lawsuits.
  3. Effects on patient health owing to the minute/negligible omissions on behalf of the doctor.
  4. Loss of prescription documents provided by medical professionals.
  • High sum assured at nominal premium payments

Financers such as Bajaj Finserv offer sum assured of up to Rs. 1 Crore against nominal three-digit premium payments. 

This is a major contributing factor as to why doctors should choose Bajaj Finserv professional indemnity policy other than the comprehensive policy coverage.  

Such affordable premiums make these insurance plans more accessible for medical practitioners across the country.

Another benefit of such indemnity insurance for doctors is the simple application and claim procedure.

Application procedure for indemnity insurance policies

You can easily apply for such insurance policies in the following steps –

Step 1 – Ensure you meet the eligibility criteria, as stated in your chosen financial institution’s website portal.

Step 2 – Fill in the online form and furnish details about your medical license and work experience.

Step 3 – Upload scanned copies of all relevant documents directly on the website.

Step 4 – A representative of the respective financial company will contact you shortly to fulfil all offline formalities.

Successfully applying for indemnity insurance policy guarantees coverage against substantial financial losses in case of litigation cases. Doctors can also avail numerous other professional loan schemes to meet additional financial requirements.

Medical practitioners can easily plan their finances better with a Bajaj Finserv Loan for Doctors, which are extended against attractive interest rates.

How does professional loan help in meeting financial requirements?

Professional loans for doctors extended by major financial institutions can be utilised to meet any form of expenses, whether personal or business-related. 

You can obtain both secured and unsecured credits from institutions such as Bajaj Finserv at attractive interest rates and customised loan tenor benefits.

Bajaj Finserv also provides pre-approved offers that make availing loans easier and simpler for borrowers. These offers are available on home loans, business loans, personal loans, professional loans, as well as on numerous other financial products. 

Availing professional loan for business-related purposes allow medical practitioners to increase their average income through start-up businesses or undertaking expansion related projects. Coupled with indemnity insurance plans for financial security against legal actions, doctors can expand their wealth manifold.

Leave a Comment