Spend, Save and Invest Smartly
There is a famous saying Health is Wealth and its hold true. Healthy mind resides in healthy body so it is very important to stay healthy. The modern life is not so easy, its full of stress and its very tiring. So it is just a matter of time when you fall ill. Nowadays falling ill is very costly, It is not the disease but the treatment which takes the toll. So Health Insurance is the only solution to overcome all the problems related to heath. Health Insurance policy covers all expenses incurred during hospitalization, money spent for conducting medical tests and buying medicines. The cover will be to the extent of the sum insured.
In short Health insurance is the contract between the insured and the insurance company to provide financial shelter in the event of Medical treatment incurred out of sickness or injury.
In India medical treatment is very expensive. A major disease can set you back financially many years. If you are not covered by a health insurance policy this puts a huge burden on your family. When you are young a health policy is available at very cheap rates. Make sure you take that health policy when you are young so that you can reap the benefits of these policies in your old age.
When we hear the word insurance the first thing comes in our mind is security that is security against heath, family, vehicles, homes, business etc. In the early days no one was in need of insurance for self protections because the pace of life was slow at that time with no future worries.
But things have change drastically and we are in a different world altogether .In this advanced world, we are not even finding time to enjoy with our friends or family. The work load is so much that we work from office and home both. Our social life is getting messed up due to our professional life. In nutshell we would say that we all lacking time to rule our life. We all neglect our health and the issues related to that. Due to all this reasons when something goes wrong with health the first thing come at our mind is Expenses not Doctor.
The fact is that due to the over-burden of our daily tasks we all forget about our health. So it is better to have insurance that make you secure against any issue related to health. As we have already mentioned Health/Medical Insurance is the policy that protects you financially from any critical illness, road accidents, injuries and any other unforeseen events which affect your health. Always keep in mind that a small premium towards health insurance will help you to save a lot of money.
Now you all know the importance of having a Health Insurance policy. Now we will look in to the some of the benefits associated with Health Insurance Policies. The benefits and facilities offered in health insurance policies differ from plan to plan and from company.
But here we have tried to give some of the common benefits associated with Health Insurance.
The first benefit of Health Insurance Policy is that it covers all hospitalization expense from sickness, illness and accidental injuries. Hospitalization expenses such as room rent, boarding and nursing expenses, surgeon fees, consultant fees, specialist fees, anesthetists, medical practitioner, operation theatre charges, ICU charges, anesthesia, cost of blood, oxygen, surgical appliances, diagnostic materials, x-ray, dialysis, chemotherapy, radiotherapy, pacemaker, artificial limbs, cost of organ etc
Health Insurace policy avails the benefits of tax under the section 80D of Income Tax. So you can avail the tax benefits and at the same time the cover against the injuries and any other health problems.
Health Insurance policies also provide the cover for the treatment administrate at home and all the expenses incurred on treatment. So by having a health insurance policy the treatment undergone in home can be re-imbursed easily.
Health Insurance policies cover not only the expenses incurred during hospitalization period but also for the pre- and post hospitalization period. The time period for the Pre and Post-Hospitalization can be different according to different plans of various companies.
Some of the Health Insurance policies provide you Cash less Mediclaims. The policy gives you the option that you can get medical treatment just by displaying insurance card to hospital without paying any cash. These benefits some time may be applicable to only to a certain number of medical centers or hospitals.
Here in this section we are trying to give some of the steps you must follow while taking a Heath Insurance policy.
Before taking a Health Insurance Poilcy you should understand the basics of policy like premium, entry and exit age, risks covered and all other
You should be clear about the features you want to have in your Health Insurance policy as there are many policies available and with various features.
Health Insurance policies are basically two types – Group and Individual Insurance so you have to decide which policy you want to take considering its benefits and cost associated.
After deciding on the type of Health Insurance plan you should decide the total amount of coverage needed according to the number of peple to be insured and the current policies taken.
So after determining all the requirements and coverages you can compare the various Health Insurance plans of different Insurance companies. You can compare the policy on various parameters such as premium, benefits and costs associated with it.
So after comparing various policies you can choose and take best policy according for your requirement. You can purchase policy by the agent and be secured against your health related problems.
Hope this article helped you in creating a fair knowledge about Health Insurance, its benefits and importance. For more information on this topic or any related topic please bet back to us.