Get 2 Cr. Life Cover plan @Rs 28/ day *

Secure your family’s future with term life insurance at low premiums. Enjoy double benefit of tax saving and protection against critical illness and disability.

Want to know about life stage?
Want to know about life stage?
+91
I Agree to T&C
Coming Soon
Coming Soon 2
Want to Know about your life stage?
about life stage
OTP Information

OTP has been sent to your mobile number ending with XXXXXX


Health Insurance

What are the benefits of a health insurance policy?

Covid-19 has made us realize the goodness of being healthy, strong immunity, and the importance of financial security to cope with uncertain times like this.

Health insurance policy is also a financial back-up system which protects your savings from draining into the high medical expenses. However, people still ignore it due to less knowledge about the benefits of health insurance policy.

What are the benefits of a health insurance policy?

Therefore, here are some of the essential benefits that health insurance offers to make you understand its importance.

  1. Ideal Cover for Health-related Issues:

    Obviously, it has gotten exceptionally simple for any person to become sick. Be it a child or a grown-up; all have become sensitive to ailment, regardless of whether it is due to pollution or boisterous way of life. Purchasing health insurance will help you tackle health-related expenses while ensuring that you can avail the best medical treatment for your health without stressing over costs. Health insurance policies come with various features, and it depends on the policy you choose; you will get the coverage for:

  • Cashless treatment: Health insurance offers cashless treatment at one of its network hospitals. This saves your money from getting spent into inpatient hospitalization cost.
  • Pre and post hospitalization cost: Health insurance plans include pre-and post-hospitalization costs for a particular number of days. You should find out the number of days covered which relies upon the kind of plan you have bought.
  • Room rent: Majority of the health insurance policies cover hospital room expenses depending on the policyholder’s premium.
  • Cost of the ambulance: One of the benefits of health insurance by the side is that it covers the cost of ambulance incurred on the transportation of insured person. In this way, the requirement for arranging a vehicle during a crisis circumstance gets removed.
  • No Claim Bonus: No claim bonus or NCB is a medical coverage component paid to the insurance company in case the insured person does not file any claim for any treatment in an earlier year.
  • Domiciliary treatment: If your health insurance policy covers domiciliary therapy, you get coverage for a treatment availing at home under medical supervision.
  • Alternative treatment: Alternative treatment cost, which includes treatment for Ayurveda, Homeopathy, Unani, Siddha and others are now covered by many insurance companies. On purchasing a policy that covers this component, you will have the option to take advantage of the offered treatment without bearing costs all alone. 
  • Organ donor expenses: A medical coverage secures you from the concern of high medical costs related to any organ transplant procedure. If it does not come with the standard health insurance policy, this component might be offered to you as an extra advantage. 
  • Health Check-up: When you pick medical coverage, according to your policy type, you become qualified for health check-ups. Free of cost health check-ups are additionally given by some of the insurers based on your past NCBs.
  • Daily hospital cash allowance: This feature is one of the shrouded advantages of medical coverage that allows you to deal with extra costs like food, travel and others during hospitalization.

Aside from the previously mentioned benefits of health insurance, you might be qualified to profit advantages, for example, dental treatment, bariatric medical procedure, amongst others. However, you can enjoy the benefits from these features only if your health insurance policy covers them.

  1. Monetary Safety Against Rising Medical expenses:

    Day by day, medical treatments’ costs are rising. Thus, an ever-increasing number of individuals are inclined toward India’s medical coverage to pick up protection from these soaring expenses. In this situation, a health insurance policy seems to be simply the best answer for a shield against gigantic, unavoidable medical costs. What’s best is that you won’t need to spend anything from your savings.

  1. More Benefits for Young Buyers:

    If you buy a health insurance plan at a young age, you will acquire more advantages. You become qualified for preferred advantages over others, be it grown-ups or senior residents such as low premiums. Since the odds of getting sick at an early age are less, it becomes easier to get over with the waiting period, pre-existing diseases and more. Additionally, it also becomes easier to claim the benefits without the fear of getting claims rejected.

  1. Extra Protection over and above Employer Cover:

    Most companies nowadays provide group health insurance to their employees. However, several individuals may find that group health insurance to be unsuitable for their necessities. One more issue that many people have with their corporate protection plan is that it ends when they leave the company. For this situation, having an individual health insurance policy is necessary to secure their health and offer them financial assistance when a crisis circumstance happens.

  1. Tax benefit:

    The premiums paid towards health insurance policy are eligible for tax deduction up to Rs 50,000. Thus, purchasing medical coverage would make you qualified for tax deductions and help you acquire benefits.

Concluding the benefits of health insurance plan, we can say that it is an inevitable choice for every individual. If you want some financial stability during sudden medical emergencies, then health insurance is the answer. To know further about the benefits of health insurance, you may BimaKaro.in and browse through a wide range of health insurance policies they offer from top insurers in India.

Related Post:

 

FAQs - Health insurance policy?

  • What is Health Insurance?

    Health insurance is a contract between the policyholder and the insurance provider wherein the later cover medical expenses of the insured person when needed. Every health insurance policy comes with different terms and conditions; therefore, the insured should go through the policy guidelines carefully before opting for one.

    Review Overview
    Health Insurance Policy
    SUMMARY

    Health insurance policy is also a financial back-up system which protects your savings from draining into the high medical expenses. However, people still ignore it due to less knowledge about the benefits of health insurance policy.

    5.0

  • Why should you buy health insurance?

    The main reason for purchasing health insurance is to be financially secured during a medical emergency. Health insurance enables you to get the best treatment without putting any strain on your finances. It covers hospitalisation costs, ambulance charges, daycare procedures, amongst many other medical expenses.

    Review Overview
    Health Insurance Policy
    SUMMARY

    Health insurance policy is also a financial back-up system which protects your savings from draining into the high medical expenses. However, people still ignore it due to less knowledge about the benefits of health insurance policy.

    5.0

  • Why is health insurance important?

    Along with covering the rising medical expenses, which can drain out your savings, health insurance ensures that you get a good medical facility without worrying about the finances. Hence buying health insurance can provide you with mental peace during challenging times like medical emergencies.

    Review Overview
    Health Insurance Policy
    SUMMARY

    Health insurance policy is also a financial back-up system which protects your savings from draining into the high medical expenses. However, people still ignore it due to less knowledge about the benefits of health insurance policy.

    5.0

  • Who all require health insurance?

    Well, the answer is everyone. It does not matter whether you are young or fit, healthy or sick, smoker or non-smoker; you need health insurance like car insurance or others as security against rising medical costs.

    Review Overview
    Health Insurance Policy
    SUMMARY

    Health insurance policy is also a financial back-up system which protects your savings from draining into the high medical expenses. However, people still ignore it due to less knowledge about the benefits of health insurance policy.

    5.0

  • How can I select the right health insurance in India?

    • Assess your requirement.
    • Compare the policies by carefully looking through various factors like the sum assured premium, etc.
    • Ensure the health insurance is affordable.
    • Check whether you require an individual or family floater policy.
    • Check the listed network hospitals for cashless hospitalisation and then decide.
    Review Overview
    Health Insurance Policy
    SUMMARY

    Health insurance policy is also a financial back-up system which protects your savings from draining into the high medical expenses. However, people still ignore it due to less knowledge about the benefits of health insurance policy.

    5.0

  • Review Overview
    Health Insurance Policy
    SUMMARY

    Health insurance policy is also a financial back-up system which protects your savings from draining into the high medical expenses. However, people still ignore it due to less knowledge about the benefits of health insurance policy.

    5.0

    Subscribe
    Notify of
    guest
    0 Comments
    Inline Feedbacks
    View all comments