Health insurance has been in India for more than 30 years but still, its penetration is low. Most people buy health insurance to avail tax benefits under Section 80D. They don’t actually buy it to get financial coverage and protect their savings during a medical emergency.
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
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However, with time, the health insurance sector opened up and all credit goes to our unhealthy food habits and busy lifestyles. These days, people fall ill at comparatively younger age than before. This increased the demand for health insurance plans and more insurance providers came into the picture. One of the insurers that offers the most affordable mediclaim insurance plans is Care Health Insurance (Formerly known as Religare Health Insurance).
Care Health Insurance (Formerly known as Religare Health Insurance) is one of the reputed health insurance providers of India. The company is a subsidiary of Care Enterprise Limited, which is one of the leading financial services providers of India. The other shareholders of Care Health CARE Plan group are – Corporation Bank and the Union Bank of India.
With a wide spectrum of financial services, the Care group is well known for providing top class health insurance products and one of which is Care Health CARE Plan
Care Health CARE Plan is the first product out of various Care Health Insurance(Formerly known as Religare Health Insurance) plans that provide a spectrum of benefits to its policyholders with a unique ‘Recharge’ feature.
The benefits that Care Health CARE Plan from the Care offers to its customers are:
Out of various other inclusions of the Care Health CARE Plan of Care Health Insurance (Formerly known as Religare Health Insurance) , ‘Recharge’ is the most useful and unique feature.
The literal meaning of recharge is reloading and the ‘Recharge’ feature was introduced in the ‘Care Health CARE Plan with the same intention. It is to reinstate up to the sum insured in one policy year if your claim amount is exhausted in that year.The Care Health Insurance (Formerly known as Religare Health Insurance)agrees to make the reinstatement up to the sum insured of your current policy, provided the below-mentioned conditions are met:
There are some health insurance providers that offer the facility of ‘Restore’ and it may lead you to confusion by considering it as ‘Recharge’. There is a huge difference in both these terms in the insurance sector. In order to make this clear to you, we are going to provide you with the basic definition of both these terms.
Restore benefit is providedwhen the basic sum insured of the policy becomes zero. Same as the case of recharge, you cannot avail the facility of restore for the same alignment.
Since recharge facility is not available on a single claim policy, thus it is not provided in the first claim. However, if the sum insured is not sufficientfor a subsequent health insurance claim, the recharge gets activated.In this way, recharge facility is available for future claims of the current policy and cannot be availed for any injury or illness for which the claim is already made.
In this way, ‘Recharge’ is one of the best inclusions that anyone can ask for while taking a health insurance plan. So, if you want ‘Recharge’ benefit with sum insured of Rs.5 Lakh and above, then Care Health CARE Plan is recommended to you. The facility of no claim bonus of up to 150% in 5 years and recharge benefits are also the best possible inclusions of this plan.
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