Why Should You Invest in Health Insurance?

We’re sure you’ll agree that staying healthy is important. But with today’s frenzied lifestyle, it often becomes difficult to find ways in order to stay healthy. In fact, a large number of people today suffer from lifestyle related diseases.

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      More often than not the medical treatment of such diseases costs a bomb. Given this fact, it doesn’t really take a rocket scientist to understand that staying on guard against medical and health emergencies is vital.

      This is where health insurance plans come to your rescue. Buying a health insurance plan can help you to get the best medical care without burning a hole in your pocket or savings. Today, health insurance plans offer much more than just hospitalization expense coverage.

       

      Here is a little smattering on the benefits and coverage offered by some of the most popular health insurance plans available in the market:

      Coverage & Benefits under Health Insurance Plan

      Hospitalization Expenses:

      Each health insurance plan covers the medical treatment cost incurred in case the policy holder meets with a medical emergency.

      Day Care Procedure:

      Due to the technological advancements in the medical technology, there are several health problems that need hospitalization for less than 24 hours. The medical treatments that do not need hospitalization or need less than 24 hours of hospitalization are known as day care procedure. Almost all popular health insurance plans available in the Indian insurance sector covers the cost incurred due to such day care procedures.

      Invest in Health Insurance in 2017

      Cashless Hospitalization Facility:

      Almost all popular health insurance plans offer cashless hospitalization facility to policyholders. This cashless facility is available for policy holders at all network hospitals of the insurer. The claim procedure of cashless hospitalization facility is very easy and quick.

      Room Rent:

      All popular health insurance plans cover the room rent incurred due to hospitalization. Some health policies cover the total cost, whereas some only covers a certain percentage of the total cost in current as hospital room rent.

      Domiciliary Expenses:

      Health insurance plan also covers the cost of domiciliary expenses,in case you need some special kind of therapy such as acupuncture, acupressure or treatments involving Ayurvedic, or Unani medicinal procedures.

      Ambulance Expenses:

      Health insurance plans are conceptualized to take care of your smallest requirements when you meet with a medical emergency. A large number of health plans cover the ambulance cost to ensure iron-clad financial protection for the policy holders.

      Tax Benefits:

      Apart from all the benefits mentioned above, health insurance plans also offer tax benefits. You can avail tax benefits on the premiums you’re paying for health insurance plan for self, spouse, children or dependent parents. Buyers get tax exemption on health insurance premium paid for spouse, self, parents and children under income tax act Section 80D.

      We’re sure that now you know the importance of buying a health insurance plan. But the sheer multiplicity of health insurance plans available in the Indian insurance sector can baffle even the most experienced of souls.

      You may like to Read: How to Save Tax with Health Insurance?

      Here we are listing some quick tips to help you zero-in on the best health insurance available in the market.

      • Read about the benefits offered under the intended health insurance plan carefully.
      • Analyze your requirements and match it with the coverage offered by the plan.
      • Compare the premiums offered by different health insurance plans using premium calculator tools online.
      • Remember to look out for cashless or reimbursement options for hospitalization expenses.
      • In case of pre-existing diseases, try to find the plan that takes a minimum number of waiting periods.
      • Make sure that you read the claim settlement procedure before buying any health insurance plan.

      Health insurance plan also covers you against the critical illness treatment cost. In case you need coverage for critical illness, make sure you select a health insurance plan, which covers your medical requirements.

      Remember, the best health insurance plan is the one that fulfils all your requirements without having to spend an arm and a leg. To find the best health insurance plan you need to a do little home work.

      There is a host of information available on the web for different health insurance plans. Nowadays, almost every insurance company offers online feature to help customers buy or renew their health policy anywhere, anytime.

      We hope now you understand how and why health insurance plans are important. Given the steep rise in lifestyle and other related diseases, staying prepared against health emergencies is no longer a luxury, but a necessity. So if you have not yet invested in a comprehensive health insurance policy, it’s time to put this learning into practise and buy the best health insurance policy come 2017.

      Disclaimer : *Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. 

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      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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      *We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881. Product information is authentic and solely based on the information received from the Insurer. Policybazaar is acting only as a facilitator and claims settlement shall be at the sole discretion of the Insurer. As per the Insurance guidelines, you are allowed to cancel the policy with-in 15 days from the date of Issuance of policy. For more details, please read the Plan Brochure carefully or talk to our advisor at the time of purchase.

      *All the health insurance plans cover hospitalization expenses including COVID-19 treatment cover up to the specified limits. You can also buy specific COVID-19 health insurance policies such as Corona Kavach Policy and Corona Rakshak policy.

      **All savings and online discounts are provided by insurers as per IRDAI approved insurance plans. #Tax Benefits are subject to changes in tax laws. GST Exemptions depend on fulfilment of qualification criteria and submission of relevant documents.

      *₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.

      *₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases

      *₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.

      *₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

      *No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

      *The values taken for effective cost calculation are indicative values and may change as per the selected plan.

      *Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

      *Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

      *The scope of coverage may vary from plan to plan.

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      Tax Benefits are subject to changes in tax laws. GST Exemption depends on fulfilment of qualification criteria and submission of relevant documents as required by the insurers. For more details on risk factors, terms and conditions, please read the sales brochure and applicable rules and regulation carefully before concluding a sale.

      STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.

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