Benefits of health insurance

Benefits Of Health Insurance

The people have rightly said that health is the biggest wealth. Today’s changing lifestyle, bad food habits, pollution levels rise day by day, and many other factors have a very serious effect on the health of the person. This can be the cause of various health conditions such as diabetes, asthma and medical diseases.

The medical costs associated with the treatment of such diseases are increasing rapidly, which is a problem of a common family. Financial Advisors advise people to invest in health insurance plans, to protect their own finances against high medical bills.
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Under this scheme, if you are hospitalized for more than 24 hours, then all recurring expenses are included after recruitment as well as hospitalization.

Major Advantages To Buy Health Insurance Plans

Benefits of health insurance

let’s summarize the top major advantages to convince you to buy a good medical health care policy.

1. Protection Against Medical Expenses

The main purpose of medical insurance is to get the best medical care without any worry on your finances. The health insurance plan provides protection against high medical needs.

Apart from this, all hospital expenses including day care hospital expenses, medicines expenses, and ambulance charges are included. So you can concentrate on your speedy recovery without worrying about the money.

2. Protection Against Critical Illness

critical health insurance

Nowadays the insurance providers provide serious illness insurance. These are of two types, such as a standalone plan or as a 2 rider. This insurance policy provides coverage against other critical diseases like Bone Marrow Transplant, Kidney Failure, Stroke and Loss of Body Parts.
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If you are aware of any serious illness from the predetermined list of your policy taken, you are entitled to a lump sum amount. Use this amount from your illness can be done to meet related treatment costs, daily expenses and other financial obligations.

3. OPD Treatment

Do you know that your health insurance plan can reimburse expenses like doctors’ consultancy fees, cost of medicines, and disease testing? you do not even have to be hospitalized to claim this.

4. Cashless Claim Facility

health insurance cashless

Many insurance providers provide cashless claim facility in today’s digital age. In this kind of arrangement, you do not have to pay for anything with your pocket. The expense of the hospital is stalled between your insurer and the hospital.

To take advantage of this service, the insurer must be admitted to any network hospital. To enjoy this cashless facility, you have to fill out a pre-authorization form and you can display your health insurance card.

5. Tax Benefits

tax benefits of health insurance

Do you know that health care plans provide tax benefits? The premium paid for your health care policy is eligible for tax deduction under Section 80 D of Income Tax Act, 1961.

If you are under 60, you can claim up to 25,000 tax benefits on your health insurance premium for your spouse. Additional tax benefits of Rs 25000 for parents and dependent children Also, if your parent is a senior citizen, you can claim a tax benefit of up to Rs 30000.

Right Age To Purchase Health Insurance

There is a general dilemma in the people about the exact age of buying a health insurance policy. However, there is no one right age to buy a health insurance policy. As if a person buys a health insurance policy at an early age, then he will have to pay less for the policy.

An increase in premium for health policy with someone’s age, that’s because this associated risk increases. Insurance plans are prescribed by the age proof of insurers, medical history, residence etc. Therefore, if you buy a health plan early, it will help you to avoid those premiums that you will pay.

Best Health Insurance Plans In India

Health insurance is one of the most complex insurance products because it comes with many riders and benefits, and therefore, there are lots of versions of it.

It is important to consider comparing the best health insurance plans in India to buy one of the best health insurance plans for you and your dependents.

To make this work easier, we have given the list of top 10 best health insurance companies, you can learn more by going to their official website.

  • Star Family Health Optima – Read more
  • Religare NCB Super Premium – Read more
  • Apollo Munich Optima Restore – Read more
  • Max Bupa Health Companion Individual – Read more
  • SBI General’s Health Insurance – Read more
  • HDFC ERGO Health Suraksha Gold Regain – Read more
  • ICICI Lombard Health Insurance – Read more
  • Aditya Birla Active Assure Diamond – Read more
  • Senior Citizen Red Carpet Health Insurance Policy – Read more
  • Universal Sompo Health Insurance – Read more

Why Buy Health Insurance

Buying health insurance has many benefits. Health insurance premiums which policyholders pay by their income are eligible for a tax deduction. You can enjoy long-term tax benefits by buying health insurance at an early age.

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