Gift Your Sister a Health Insurance Policy This Raksha Bandhan

Why Should You Get Health Insurance for Your Sister?

In today's time, when healthcare costs are skyrocketing, buying health insurance for sister can offer her financial protection during unexpected medical emergencies. In fact, as the prevalence of lifestyle diseases, such as diabetes, cancer, and hypertension, is increasing, a mediclaim policy ensures access to quality treatment without the stress of high medical expenses.

Here are the top reasons why you should buy health insurance for your sister:

1. Financial Protection for Medical Expenses

   Medical emergencies can strike anytime and often come with hefty medical bills. Health insurance helps cover these expenses, saving your sister from draining her savings. Whether it is a sudden surgery or prolonged treatment, the policy takes care of the financial burden so she can focus on recovery.

2. Access to High-Quality Medical Care

   Health insurance ensures your sister does not have to compromise on the quality of treatment due to high costs. With mediclaim insurance covering her medicare expenses, your sister can choose top hospitals or advanced treatment options.

3. Wide Coverage

   Most mediclaim insurance plans in India offer extensive coverage, including hospitalisation costs, pre and post-hospitalisation expenses, ambulance charges, modern treatments, day care treatments, etc. Some plans also offer maternity insurance, critical illnesses cover, and regular health check-ups, making it a comprehensive solution for your sister's healthcare needs.

4. Cashless Treatment

   Almost all health insurance companies in India now offer cashless treatment facility with health plans, allowing your sister to get medical care without worrying about paying bills upfront. In case of hospitalisation, the insurer will settle the bill directly with the hospital, easing the process.

Coverage and Benefits Under Health Insurance

The health insurance policyholder will get the following coverage and benefits:

1. In-Patient Hospitalisation

   This covers the costs your sister may incur if she is admitted to a hospital for more than 24 hours. Whether it is a planned or unplanned treatment, it will cover room rent, ICU charges, doctor's fees, etc.

2. Pre & Post-Hospitalisation

   It includes medical expenses incurred before hospitalisation due to an illness, as well as follow-up treatment costs after discharge.

3. Pre-Existing Diseases (PEDs)

   If your sister has a medical issue, such as diabetes or hypertension, before purchasing the policy, many insurers offer coverage for these pre-existing diseases after a waiting period of 2-3 years.

4. Day Care Procedures

   Due to advancements in medical technology, some treatments do not require 24 hours of hospital stay. These are called day care procedures. Most health insurance policies cover the expenses for these procedures.

5. Critical Illnesses

   Some medical insurance policies include coverage for critical illnesses like cancer, heart disease, or kidney failure. These conditions usually require expensive and long-term treatment, and critical illness cover helps manage these high costs.

6. Domiciliary Expenses

   Health insurance policy also covers the domiciliary expenses in case you require some special sort of therapy like acupressure, acupuncture or remedies, including Ayurveda or Unani medicinal procedures.

7. Maternity Cover

   Some health insurance policies offer maternity benefit that cover childbirth-related expenses, including delivery costs and sometimes even prenatal and postnatal care. This ensures that your sister is financially prepared during her pregnancy.

   NOTE: The coverage options will vary from one plan to another.

General Tips to Buy a Health Insurance Policy for Your Sister

Check out the below-mentioned tips that you must follow while buying a health insurance policy for your sister this Raksha Bandhan:

1. Assess Your Sister's Needs

   When buying health insurance for your sister, it is important to think about her specific requirements. Consider her age, lifestyle habits, medical history, and current health condition. If she has any pre-existing medical conditions, make sure the policy you choose provides coverage for those, even if there is a waiting period.

2. Conduct Proper Market Research

   In order to look for the best health insurance plan for your sister, make sure you do proper market research. Compare different health plans existing in the market and choose the one that perfectly matches her healthcare.

3. Choose Adequate Coverage

   Medical expenses can vary widely depending on the city or region your sister lives in, so you must pick a policy with a sufficient sum insured. A higher sum insured can help handle rising healthcare costs and inflation.

4. Review Sub-Limits and Co-Payments

   Some health insurance plans come with restrictions like sub-limits on room rent or caps on treatment for specific illnesses. They may also have co-payment clauses, requiring her to pay a portion of the medical bills. To minimise your sister's unexpected out-of-pocket expenses, choose a policy with minimal or no sub-limits and co-payment requirements.

   Discover more on this topic: What is Copay in Health Insurance

5. Do not Compromise on Coverage and Benefits

   When selecting a health insurance plan for your sister, prioritise comprehensive coverage over lower premiums. A plan with limited benefits may save money initially but could fall short during critical situations. So, ensure the policy you gift her includes essential features.

6. Buy a Plan Via Insurance Aggregator

   While buying a mediclaim policy for your sister, make sure you buy it through an insurance aggregator. Though many people believe that health insurance companies will uphold a higher level of transparency than an agent or broker, they will not offer the comparison benefit. However, while purchasing a plan through an online insurance aggregator like Policybazaar.com, you can compare different health insurance plans and choose the best one for your sister.