Health Insurance/Care Plans

WHAT IS A HEALTH INSURANCE POLICY?
Health insurance is like a financial security that you have for handling your medical expenses. Health insurance plans are like an investment that you make so that you can safeguard your hard-earned funds from being spent on expenses related to hospitalization, medicines, ambulance, doctors consultation and more. A health insurance policy can also be viewed as an agreement between you and your health insurance company that binds them to cover you financially in case of any medical emergency.
There are several types of health insurance plans in India. And, you should choose the best health insurance policy for yourself and your family so that you can relax when it comes to paying hefty medical bills. You not only get covered for the medical expenses with your health insurance plans, but also get facilities such as cashless treatment and quality health care at a reputed network hospital. Health insurance plans are like your friends that take away your financial burden in case of hospital related exigencies.

WHAT IS THE NEED FOR HEALTH INSURANCE?
An effective medical insurance policy is essential because the prices of medicines and hospital treatments are rising day by day. If an accident or critical illness befalls you, it will cause a huge financial burden on you and your family. A hard-hitting truth is that whether your trip to hospital is planned or it comes as an unpleasant surprise, it is sure to cost you heavily. So, its better to have a protection of health insurance plans, that besides helping you manage your finances, also offer you a several other benefits at very affordable premium rates. You can also check out various health insurance quotes online to figure out which one is most suited to your budget.

Here are 5 reasons that will make you understand the importance of having the best health insurance plan:
-Financial Help : Your health insurance policy will ease your burden of paying heavy medical bills from out of your pocket. You can save your hard-earned money for living your life to the fullest, instead of spending a huge part of it on medical care. If you are worried about the premium rates, then please be assured that you can get an adequate health insurance policy at very affordable premium costs. You also get discounts like family discount, which will allow you to keep the medical insurance plans coverage intact while paying a relatively low health insurance premium.

-Quality Medical Care : You can avail the benefit of cashless claims and quality medical care if you decide to get your treatment at a network hospital. A network hospital is a hospital that has an agreement with your health insurance company, which enables you to get the best treatment without having to shell out from your pocket.

-Tax saving : In India, the payments you make towards your health insurance policies are eligible for tax deductions under section 80D of the Income Tax Act. You can avail the maximum deductions of INR 1 lakh if you buy health insurance plans for yourself and your loved ones, and if you and your parents are senior citizens.

-Extensive Coverage : Health insurance plans in India not only cover you for hospitalization expenses, but also provide cover against critical illnesses, accident-related, maternity, consultations, check-ups and other such medical expenses with different types of health insurance plans.

-Peace of mind : If you are secured on the financial front, then even a trip to a hospital feels a little less stressed. Having a medical insurance gives you the peace of mind that can help you relax in a tense situation.
With so many health insurance plans in India offered by health insurance companies in India to choose from, you can certainly choose the best health insurance plan from among them.

BENEFITS OF HEALTH INSURANCE PLANS
-Cashless Treatment: You can avail the benefit of cashless treatment, if you visit a network hospital for treatment. This means that you dont have to arrange for funds from your pocket while getting quality health care. All you need to do it inform the insurance desk in the network hospital about your policy number. They will arrange for the pre-authorization letter from your insurance company, and the hospital bill settlement will be taken care of smoothly by the hospital and your health insurance company.

-Tax Benefits: You can get a tax benefit by paying premium towards your health insurance plans in India. Whether you buy a health insurance for yourself or your family, you can get tax exemption as per section 80D of the Income Tax Act. You can claim tax deduction up to INR 25,000 per year for the health insurance premium paid for yourself, if your age is less than 60 years and up to INR 50,000 if you are a senior citizen.

-Daily Hospital Cash: If you have a health insurance policy, then you can get the benefit of daily hospital cash. This means that your insurance company will pay you a certain fixed sum of money daily (up to a limited number of days), which you can use to get reasonable accommodation for your family member/care taker. Feature available in Individual Health Guard, Family Floater Health Guard and Health Care Supreme

-Cumulative Bonus: If you renew your health insurance policy without any break and there has been no claim in the preceding year, then your Sum Insured (SI) is increased by 5% for the first year and 10 % for every successful claim free policy renewal. This increment in our SI is limited to 50% at max. Feature available for all health insurance products.

-Free Health Check-Ups: It is said that prevention is better than cure. And, with your health insurance policy, you can avail the benefit of preventive care. You can regularly undertake heath check-ups without having to worry about paying medical bills.

-Life Long Renewability: Once you buy your annual health insurance policy, you just need to renew it every year before its expiry to get the benefits of health insurance for a long time. You can add in some requirements as per your family size and the coverage needs at the time of renewal.