Health insurance is an insurance policy that covers you against the expenditures of a medical or surgical procedure, the cost of medicines, doctor’s appointments, ambulance expenses, etc. The expenses covered by a health insurance plan can be a result of an accident or an illness. Health insurance offers features like cashless hospitalisation, cover against critical illnesses like cancer, kidney and heart issues, and more.
Most insurance companies have tie-ups with hospitals. If you get yourself treated at their network hospital, you can avail the benefits of cashless treatment. The claim is settled later.
The rent for occupying a hospital room is charged over and above the treatment. Health insurance plans in India cover these expenses as well.
Most insurance companies have tie-ups with hospitals. If you get yourself treated at their network hospital, you can avail the benefits of cashless treatment. The claim is settled later.
You can get regular health check-ups under your policy. This can depend on the particular plan, but most insurers offer one or two medical check-ups in a year.
If you do not file a claim in a year, the insurer offers you an NCB as an incentive, the next year.
Lastly, one of the most beneficial uses of health insurance is tax saving. The premium paid towards a health insurance policy in India can be claimed for tax deduction under Section 80D of the Income Tax Act of 1961.
Health Insurance is an essential product in today’s times. The cost of healthcare has drastically risen in the last decade. Life-threatening diseases such as cancer and kidney failure are getting more and more common by the day. There was a time when poor health was only associated with older people. But with a rise in pollution and dependence on packaged food and drinks, immunity levels are dropping across age groups. Irrespective of your age, a health condition can strike at any time pre-and. Even a couple of days of hospitalisation can cause a significant blow to your savings. Therefore, having a health insurance policy in India is more important than ever. It safeguards you from the expenditure of an ailment and offers you the peace of mind to carry on with your life without worrying about health care costs.
It is important to understand the features of a policy before purchasing it. A good medical plan can be one that offers wholesome coverage, cashless hospitalisation, and quick claim settlement, and covers pre and post hospitalisation expenses.
Buying health insurance is no longer a choice but a necessity in the current times. It covers us against the financial implications of medical problems. With health insurance, you do not have to dip into your savings anytime you go to a hospital.