What are Some Noteworthy Benefits Offered by Health Insurance Policies?

What are Some Noteworthy Benefits Offered by Health Insurance Policies?

One of the best financial backups in life is to be able to afford quality medical treatment whenever required. With a rise in lifestyle diseases occurring due to our sedentary modern lifestyle, skyrocketing medical costs and high levels of inflation, it has become harder to procure quality healthcare at affordable rates for ourselves and our families. Therefore modern life demands a solution in the form of health insurance to help us through trying times. 

There are a number of advantages to buying health insurance in India which you must be aware about: 

Best medical care & coping with medical inflation: The most obvious benefit of buying health insurance plans for family is that it allows you to afford the best medical treatment so that you can focus on wellness and recovery rather than the money. 

Having a health insurance policy provides a buffer between you and medical inflation. It can help you pay for both pre and post hospitalization expenses, along with other medical bills, taking into consideration future medical inflation as well. 

2. Long-term disease treatment: Serious illnesses such as cancer, heart problems, etc. often need long-term treatment and can take a toll on your finances. But having adequate health insurance cover can ease the financial burden and provide peace of mind during the already difficult medical treatments for serious illnesses. 

3. Tax benefits: Not only does a health insurance plan help you save money in the long run, it can also provide you with certain tax benefits. Under section 80D of the Income Tax Act, health insurance can enable you to save tax on the health insurance premium that you have paid. 

4. Cashless hospitalisation: Health insurance allows you to opt for a cashless hospitalisation facility at any network hospital of your insurance provider. It enables you to have easy digital transactions which are hassle-free and reduces stress during the treatment. 

5. Cost of ambulance: When there is a medical emergency, one often needs to call for an ambulance. Health insurance policies help cover the cost of the ambulance services as well to reach the nearest hospital during an emergency. 

6. ICU charges: If due to a critical health condition, you or a family member needs to be admitted to the Intensive Care Unit during the hospitalisation, then a health insurance policy will cover the cost of the treatment that entails as well.

7. Day care procedures: It isn’t just long-term or critical illnesses, either. Health insurance plans cover day care treatments as well, which means conditions that require hospitalisation for the period of less than 24 hours.

8. Pre-existing diseases: Sometimes, individuals can have pre-existing health conditions even before they have availed a health insurance policy. But the good news is, health insurance plans provide coverage for pre-existing illnesses as well. Typically, these conditions are covered after a standard waiting period of 2 to 4 years. 

9. Preventative check-ups: Lots of health insurance companies offer free medical check-ups as a preventative measure. These check-ups can happen at regular intervals, as per the policy terms and conditions. 

10. AYUSH treatment: Health insurance plans take a holistic approach as well, and make sure to include coverage for treatments based on Ayurveda, Yoga, Unani, Siddha, and Homeopathy school of medicines. 

Now that you know the advantages, go ahead, and procure a health insurance plan for yourself and your family. There are also many insurance companies offering special health insurance for senior citizens, which are worth looking at. After all, when there is health, there truly is wealth. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale. 

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