Why do We Need Health Insurance in India?

Health insurance in India has become one of the necessities nowadays. There are more benefits of health insurance policy in India than one can imagine. In a country like India, securing your life by health insurance policies is significant in many ways. Just because you are well and fit toady there is no need to take it for granted. Future is never promised and no one knows what tomorrow may bring. Chances are, you may regret later in life if you already don’t have any medical insurance plans. Hence, health insurance has become mandatory in India. It is important to look for the best health insurance policy in India as well as to compare mediclaim policies with the large number of health insurance companies in India. There are enormous reasons why we are in need of medical insurance. Many reputed health insurance companies in India provide various health insurance or mediclaim policies to secure you and your loved ones from any unforeseen ailments. Some of the most important reasons to have health insurance is India is discussed beneath

√Pre and Post Hospitalization

With the mounting private healthcare costs, health insurance in India is proving to be indispensable. A proper mediclaim policy from the best health insurance company in India not only pays for your complete hospitalization but for pre and post hospitalization expenses which you incurred on diagnostics, pharmacy, and consultation before or after your hospitalization

√Coverage for Pre-existing Diseases

Most of the policies of health insurance in India also provide coverage for pre-existing diseases even though there are waiting period before the ailment gets cover. This coverage varies from plan to plan.

√Cashless Hospitalization

One of the most important coverage of health insurance policy in India is cashless hospitalization. All the health insurance companies in India offer cashless treatments in all their network hospitals, where you can get admitted and start getting treatments without paying money from your own pocket. The treatment expenses will be settled without your involvement directly between the insurance company and the network hospital.
√Maternity Expenses

As per your medical policy, you can get maternity expenses coverage including delivery charges and post-delivery expenses too.

√Protection & Security

Health insurance in India provides you a sense of security. In other words, it will protect your loved ones; your family, parents, children or spouse.

√No Claim Bonus

If you do not file any claim for your health insurance policy, the following year can earn you a no claim bonus or NCB that results in enhanced sum insured amount. Depending on the health insurance company in India and its policies, it will start at minimum 5% increase and go up to a maximum of 150% during incessant claim-free years.

√Indian Lifestyle

Our lifestyle is another reason why we must avail health insurance in India. Our generation is more prone to diseases. Therefore, it is wise to take a medical insurance at an early age. Even if you think that you do not need any health insurance plan, you must opt for it.

√Inconstant Source of Income

In present, about 90% of people in India are in private sector jobs. Private company jobs provide no security for constant source of income and there are no retirement benefits. In this concern, you must opt for the medical insurance plan from the best health insurance company in India as early as possible.

√Future Medical Expenses

Medical cost and expenditure is subject to inflation. In future, the cost of mediclaim policy may go higher than now. A few decades later, health insurance policies may not offer the same benefits against the same premium. So if you think about your future safety, it is needed to buy health insurance in India.

√Early Retirement Age

Sometimes you may see that your parents or maybe your spouse will get retired in early 40’s as they are in public sector. If health insurance is not there on the right time, then you may have to compensate for it later. So it is better to get a health insurance right now to secure your health for future.

√Tax Benefits

The most important benefit of health insurance in India is tax benefit. As per section 80D income tax law, you can get tax benefits if you pay health insurance premium in right time.

In Short

Though health insurance in India provide ample of benefits, but before buying any policies you should do a proper research on the health insurance companies & the health insurance plans. This same process is applicable for health insurance renewal. GIBL.IN, an online insurance broking portal can help you in this regard. This portal also offers free health insurance quotes which will be beneficial for choosing the best health insurance online in India.