Anyone, including the healthiest of people, can fall sick all of a sudden and should require expensive medical treatments. In such an unforeseen emergency and scenario, when your family needs you the foremost, being financially unprepared to tackle those high medical costs can never be an option.And this is often exactly where the insurance plans inherit play. These policies not only make sure the financial comfort of you and your family but also give peace to your mind.Here is an in-depth check of a supportive and handy financial tool that has helped many individuals to heave a sigh of relief in their tough times. Health Insurance may be a sort of policy that gives financial protection against all health-related contingencies including, hospitalization. It provides coverage for all medical expenses to the policyholder. Thus, leading to financial stability.It is an agreement between the insurance firm and, therefore, the consumer where the insurer commits to making sure payment/compensation for clinical expenses within the case that the buyer is harmed/sick afterward, prompting hospitalization.
Benefits of Buying Health Insurance Policy !! Are you still hesitant to buy a health insurance policy, thinking it is an unnecessary expense?
Then prepare yourself to learn a lot about the benefits of buying a health insurance policy.
Cashless Treatment: It is hassle-free as it does not require the policyholder to wait for their claim to get reimbursed. All you need to do is take your cashless card with you and a valid Id proof at the time of admission in your network hospital that your insurance provider has collaborated with.
Pre & Post hospitalization cost coverage: Given for a precise period of days, your insurance will provide your medical coverage with none additional amount. Also, remember that the amount of days depends on the sort of policy purchased.
Ambulance expenses: One of the foremost and important benefits of getting insurance is that it covers ambulance expenses also. Thus, relaxing your stress by arranging a vehicle during an emergency gets eliminated.
No Claim Bonus: No claim bonus or NCB may be an insurance element is not any but a bonus that is awarded to the policyholder if he or she doesn't file any claim for any treatment within the previous year. A particular and defined This bonus gets added to their Sum Insured to extend his protected subsequent year.
Medical Checkup: Most of the celebrated insurance policies provide you with free health checkups. Under most of the policies, you are offered free health checkups per annum whereas some provide you insurance on the idea of your previous NCBs.
Room rent: Most of the insurance policies provide stable coverage for room expenses supported by the premium paid by the insured individual.
Alternative treatment: Many insurance policies provide you complete coverage for alternative treatment like Ayurveda, Homeopathic, Yoga, Unani etc., depending on the predetermined agreement. On buying a policy that covers this element, you'll be ready to make the foremost of the offered treatment without bearing expenses on your own.
Organ donor expenses: A insurance policy helps you secure from the fear of medical expenses that accompany the procedure of undergoing transplant surgery. If not a daily part of your basic insurance, this element could also be offered to you as an add-on benefit.
Domiciliary treatment: If your insurance policy provides domiciliary treatment, you will be provided for availing treatment reception under medical supervision.
Daily hospital cash allowance: This daily cash allowance feature is one among the hidden benefits of insurance (if featured within the policy) that allows you to look out of your additional expenses like food, travel, etc. during hospitalization.
Co-payment: Medical insurance plans offer a co-payment feature that has helped in lowering the cost of medical expenses. Such Co-payment percentages are predefined and depend on the premium paid by you. Apart from the above-mentioned benefits of insurance, you'll be eligible to avail of other benefits like dental treatment, bariatric surgery, etc. However, note that you simply are going to be ready to enjoy these specific features if only your policy covers them.