See How Health Insurance Coverage Protects You
What is Health Insurance?
A financial safety net that provides coverage for unanticipated medical, hospitalization, and surgical costs is health insurance, also referred to as medical insurance. It offers financial assistance to offset the costs of medical care, hospitalization, and surgery.
What are the Benefits of Health Insurance?
Coverage against medical contingencies: Contingencies here means emergencies. Since life is so unpredictable and the costs of medical expenses are consistently rising up, hence getting personal accident insurance is highly recommended. The insurance company will pay your medical expenses and support you through such tough times.
Financial protection against medical cost: Health insurance sets you free from all the worry about medical emergencies. All you will need to worry about is your health and recovery, or the recovery of a loved ones.
Hospitalization expenses: Any illness that necessitates immediate hospitalization is covered by most health insurance plan. But claims are only accepted if the illness hasn't already been identified when the insurance plan wasn't used.
Cashless treatment: The listed hospitals have provision to provide cashless treatment with the help of TPA (Third Party Administrator) which is one of the best features of health insurance to lessen the burden of immediate medical expenses. One might not have the funds on hand to cover the costs right away in the event of an unexpected hospitalization. Hence the hospital can directly settle the medical cost through TPA with the help of a health insurance policy.
Extended benefits as rider benefits: -
- Critical Illness treatment: Some insurers provide huge compensation that is equivalent to or larger than the sum insured. Most of them pay for all medical expenses, including hospitalization, diagnoses, medications, etc.
- Coverage for accidental injuries and illness: Medical expenses during hospitalization due to accidental injuries and illness are also offered which helps you to stay financially protected during any unexpected emergency.
Pre-Hospitalization: It covers medical expenses for a predetermined number of days before the hospitalization such as the cost of a diagnosis, doctor costs, etc. which are required during preparatory admission in the hospital prior to surgeries and other procedures.
Post-Hospitalization: It covers all medical expenses for a predetermined number of days from the end of hospitalization and treatment, surgeries, etc. such as medication, routine check-ups, injections, etc. is also reimbursed by most insurance. These expenses may be huge as major surgeries require a convalescence period.
Ambulance cover: This provides for the costs of the ambulance in case of hospitalization.
Affordable premiums: One should buy health insurance early while he or she is still young and healthy to avail of maximum benefit from lower premium rates. As we grow elder, we tend to encounter more health issues.
Tax benefit: The current tax benefits are available under Section 80D of the Income-tax Act of 1961: Rs. 25000 for individuals under the age of 60, covering oneself, one's spouse, and any dependent children; Rs. 50000 for individuals above the age of 60, covering oneself, one's spouse, and any dependent children; and Rs. 50000 individuals under the age of 60, covering oneself, one's spouse, and any dependent children and parents above 60 are included.
Why Health Insurance?
In order to protect you and your family financially from unplanned medical emergencies and to protect you against out-of-pocket costs, we strongly advise getting the best health insurance plan suited for you.
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