Top 5 Benefits of Health Insurance 2020

Top 5 Benefits of Health Insurance 2020

There's no doubt about the significance of the old saying health is wealth. It is needless to say that our constantly changing lifestyle, unhealthy habits, an increase in pollution levels, and a number of other factors have a severe impact on our health. This can certainly cause various health conditions or diseases.

Medical expenses associated with the treatment of such diseases and illnesses are rapidly increasing. With the aim of safeguarding your finances against towering medical bills, it is highly essential to invest smartly in medical insurance plans. Did you know that a health insurance plan can help cover all hospitalization costs, as well as pre and post-hospitalization expenses?

Well, there's a lot more to the benefits of a good health insurance plan. Let's have a look at these 5 key benefits of purchasing a health insurance plan:

1. Protection against Medical Expenses

The major purpose of buying health insurance is to receive the best medical care without any damage to your savings and finances. Mediclaim policies provide you with the protection against far above the ground medical costs.

It also offers coverage against the followings:

  • Hospitalization expenses
  • Domiciliary expenses
  • Day care procedures 
  • Ambulance charges
  • Coverage against Pre & Post hospitalization expenses and much more among others

Not to mention that all of this wide range of health cover makes sure that you only focus on your speedy recovery instead of stressing over the high medical bills.

2. Critical Illness Cover

Nowadays, health insurance companies offer critical illness insurance. However, they offer this cover either as a standalone health plan or as a rider along with a health insurance policy. Such a mediclaim policy provides with the coverage against a number of life-threatening diseases such as stroke, bone marrow transplant, kidney failure, and loss of limbs, among others. 

You will be entitled to receive a lump sum amount on the diagnosis of any of a critical illness that is within the predetermined list of your policy. You may use this lump sum amount to meet your illness-related daily expenses, treatment costs, and any other financial requirements.

3. Additional Protection Over and Beyond Your Employer's Health Cover

Many organizations provide health cover to their employees under a group medical insurance plan. However, such policies are not bespoke as per the requirements of every individual. In addition to that, you may be left uninsured the event of job loss or change in employment. Therefore, in order to shield yourself against such an event, it's imperative to purchase a health insurance policy for your individual self.

4. Cashless Health Claim

Almost all the insurance companies nowadays offer cashless claim facility. Under cashless health insurance, you do not have to make any out-of-pocket payment in the event of an unforeseen health condition. All the hospitalization expenses will be directly settled between your insurance provider and the hospital.

But you need to keep in mind that in order to avail the benefits of cashless health insurance, it is vital to get admitted at any of the network hospitals associated with the insurer. You can fill out a pre-authorization form and show your health insurance card to enjoy the cashless facility.

5. Tax Benefits

Did you know that health insurance plans in India come with tax benefits? Under Section 80D of the Income Tax Act, 1961, all the premiums paid towards your medical insurance policy are eligible for tax deductions. 

Inference

We advise you to keep the above-mentioned benefits of health insurance plans in mind and choose wisely from a number of different medical insurance plans available today in the market. On the basis of your personal needs and requirements, select the best health insurance plan and don't forego off the opportunity to enjoy all these benefits.

Meanwhile, you can click here to instantly compare a number of health insurance plans for your individual self or family and save big on the premium. Don't put the task of buying a mediclaim policy on the shoulders of tomorrow for tomorrow never comes and you may not get health insurance when you need it later. So, don't take any chances. Buy it now and stay protected.

 

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