HEALTH INSURANCE - PLAN WELL, STAY HEALTHY, AND BE WEALTHY
What is Health Insurance?
A financial safety net that covers unforeseen medical, hospitalization and surgical costs is health insurance, also referred hospitalization insurance. It offers financial assistance to cover medical, hospitalization, and surgical costs.
What are the Benefits of Health Insurance?
Coverage against medical contingencies: Here, "contingencies" refers to crises. Getting personal accident insurance is strongly advised due to the unpredictability of life and the steadily rising prices of medical expenses. Your medical bills and other help during these trying times will be covered by the insurance provider.
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 one.
Hospitalization expenses: Any illness that necessitates immediate hospitalization is covered by most health insurance plans. 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 offer enormous payouts that are equal to or greater than the amount insured. Most of them cover all medical costs, including hospitalization, diagnosis, drugs, and other related fees.
- Coverage for accidental injuries and illness: Further more provided are medical expenditures incurred while in the hospital as a result of illness or unintentional injuries, assisting you in maintaining your financial security in the case of a sudden emergency.
Pre-Hospitalization: It pays for medical expenses for a defined period of time prior to the hospitalization, such as the cost of a diagnostic, doctor visits, etc., that are necessary during the hospital's preparatory admission period before surgeries and other treatments.
Post-Hospitalization: The majority of insurance companies also pay for these expenses, which include prescription drugs, regular check-ups, injections, etc., for a specified period of time following hospitalization, treatment, operations, etc. Due to the need for a recovery period following major surgeries, these costs could be very high.
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: Tax benefit under Section 80D of the Income-tax Act, 1961- Rs.25000 for individuals age below 60 covering self/ spouse/ dependent children; Rs.50000 for self above age 60 years and Rs.50000 for covering parents
Why Health Insurance?
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