Health is equivalent to wealth. The most important aspect of living a beautiful life is being healthy. We could never know what is in store for us. Several things are out of the control of human beings, and our health is one of those things. We all want to commence a healthy life, but how can we know what destiny holds? With the rapid growth in every field, the number of diseases is surprisingly increasing. We are now more exposed to various deadly diseases than ever before. How can we afford to risk such a precious possession as life? We must do everything in our reach to keep us healthy.
Health Insurance policy is a type of agreement between the insurer, i.e., the insurance company and the customer where the insurer guarantees to cover several costs if the insured becomes ill/injured in the future. Most of the insurance companies have connections with a network of hospitals, which therefore ensures cashless treatment of the insured.
Everyone needs health insurance. If people have the capability to pay the instalments, then they should get themselves and their near and dear ones insured. Here are some reasons to get health insurance:
- It pays for future illness or accidents without negatively impacting savings.
- Cashless treatments are provided in the insurance company’s network hospitals.
- By paying small amounts of premium, we can lead a worry-free life.
There are numerous sorts of health insurance policy accessible. They are:
- Individual plans: these basic plans cover hospital and other costs only of the insured person.
- Family Plan: All the members of a family can be included in this plan. A planned amount of capital will be granted despite if an individual member becomes ill or injured.
- Senior Citizens Plan: This insurance plan provides health insurance policy to citizens above 60 years of age. This unique plan meets the needs of the insured.
- Personal accident insurance: The insured is offered coverage for hospital expenses for any mishap caused by the motor.
- Plan for Maternity: In this plan, all the costs before and after the birth of a child, including the ambulance cost, is covered.
- Investment cum Insurance plan: They initiate savings for the costs which are not under the coverage of the insurance.
Health Insurance policy provides several key benefits to its customers. Some of them are:
- Cashless facilities: If the insured is being treated at the network hospitals, then he/she can enjoy chaos free and fast treatment facilities.
- Provides Medical checkups: Insurance companies provide free or discounted medical checkups to the insured.
- Tax benefits: Under Section 80D of the Income Tax Act, an insured can get a deduction taxable health insurance policy income for a premium paid, up to the amount of 25,000rs. A senior citizen can get a deduction up to 50,000rs.
Anybody can fall sick without early signs or even meet with an accident. Most of the expenses are needed for the recovery of a person. We all are not always financially capable or prepared to incur such hefty expenses, but neglecting health can never be an option. Thus, health insurance policy come into action. Health insurance policy provides coverage for several costs such as treatments, surgeries, hospitalization, other costs that arise from injury, disease, or pay a predetermined lump sum amount.