Top 7 Reasons Why You Need Health Insurance | Gupta Investments


Health Insurance


Buying a health insurance policy for yourself and your family is important because medical care is expensive, especially in the private sector. Hospitalisation can burn a hole in your pocket and derail your finances. It will become even tough, if the person who brings in the money, is now in a hospital bed. All this can be avoided by just paying a small annual premium which would lessen your stress in case of medical emergencies.

A good health insurance policy would usually cover expenses made towards doctor consultation fees, costs towards medical tests, ambulance charges, hospitalization costs and even post-hospitalization recovery costs to a certain extent.

Top 7 Reasons Why You Need Health Insurance

Benefits of having a Health insurance Policy

Cashless Treatment: If you are insured, you can get cashless treatments as your insurance company would work in collaboration with various hospital networks.

Pre and post hospitalization cost coverage: Insurance policy also covers pre and post hospitalization charges up to the period of 60 days, depending on the insurance plans purchased.

Transportation Charges: Insurance policy also covers the amount paid to ambulance towards the transportation of insured.

No Claim Bonus (NCB): This is the bonus element which is paid to the insured if the insured does not file a claim for any treatment in the previous year.

Medical Checkup: Insurance policy also provide options for health checkups. Free health checkup is also provided by some insurers based on your previous NCBs.

Room Rent: Insurance policy also covers room expenses depending on the premium being paid by the insured. 

Tax Benefit: Premium paid on Health insurance is tax deductible under section 80D of the Income Tax Act.

 

Frequently Asked Question:

Why should buy health insurance?

Having health insurance is a wise investment in your own health care, an investment that helps to keep you and your family healthy while making it easier to meet medical expenses. So it is always a good idea to have insurance.

Is health insurance expensive?

Health insurance costs are driven, in large part, by costs of managing long-term medical conditions, the costs of caring for an aging population and the expense of new medicines, procedures and technologies.

Location: India

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