Health Insurance And Its Benefits
Now in India a good percentage of people are aware of health insurance, but some percentage of people are just considering health insurance as income tax saver as it comes under Section 80D in tax deduction. One and every one should know the importance of a health insurance as we have seen that some people dosent know the worth of taking a medical insurance, some family members discourage to take a medical insurance policy as they could not afford that amount for a health policy. Even if you are having ESIC also it is better to take a health policy of your own.
What Is A Health Insurance-Medical Insurance
Health Insurance is a type of insurance coverage that covers medical and surgical expenses that occurred due to illness of an insured individual(person). Depending on the type of health insurance coverage you have, you can opt for medical expenses in two ways.
1) If the hospital you are admitted has Insurance coverage by your insurance provider then Insurance provider directly pays to the hospital so you dont need to spend money on your medical expenses
2) If the hospital you are admitted dose not have Insurance coverage by your insurance provider then you have to pay your medical expenses directly to the hospital and apply for reimbursement from your insurance company
Do I Really Need A Health Insurance-Medical Insurance
Most of the people think whether they really need a health insurance? you should know that medical costs are rising year on year and it will become a burden if you doesn’t take a medical insurance policy, an unexpected illness resulting in medical expenses, loss of income and debt tensions in your family. as it is difficult to arrange money required for treatment. Below is an example,
There are two friends named ABC and XYZ, both work in same company and lived in same location. ABC had Health Insurance and XYZ didn’t show interest of taking medical insurance. Suddenly one day ABC was hospitalized due to illness, all his medical expenses were directly paid by his Insurance provider. after some days suddenly XYZ was also hospitalized due to illness but he has to pay all the expenses from his pocket.
hope this example brings the importance of Health Insurance-Medical Insurance
Benefits Of Having A Health Insurance-Medical Insurance
1) Safe guard yourself and your family
2) Get rid of unexpected loss of income due to illness
3) Healthcare is becoming expensive these days
4) Get rid of debts
5) treatment expenses is paid by Insurance provider
6) Most treatments are covered under Health Insurance
7) no need to pay money from your pocket.
How Much Health Coverage Do I Need
Health Coverage depends on your financial, family history and age.
1) you should be able to pay your medical insurance premiums regularly
2) age also factors, in younger age the premiums will be low
3) history of health problems and diseases of your family may also be in consideration.
we suggest you to take 2 to 3 lakhs through Health Insurance policy and 8 to 10 lakhs through Health Insurance top up policy
Different Types of Health Insurance Plans Available in India
1) Individual Health Insurance Plan
2) Family Floater Health Insurance Plan
4) Pre-Existing Disease Cover Plans
5) Senior Citizen Health Insurance
6) Maternity Health Insurance
7) Hospital daily cash benefit plans
8) Critical illness plans
9)Special Plans for specific diseases
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