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.

Comments

Popular posts from this blog

Check Your Health Insurance Policy Status

HOW SHOULD YOU PLAN FOR RETIREMENT?

Everything You Need to Know About a Joint Life Policy