Tuesday, October 22, 2019

Health Insurance in India

Health Insurance

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Firstly we need to know what is health insurance. The world that we live in today is full of uncertainties. Anything can happen to anyone, at any point in time. Hence it is highly recommended to ensure you and your family's health. Health Insurance in India is a kind of insurance policy which covers the cost of an insured individual’s medical expenses which covers doctor's fees, nursing expenses, OT charges, medicines and drugs, anesthesia and oxygen administration expenses, etc. There are many companies providing health insurance.Health Insurance in India is an investment for your future. Every insurance company has its various health insurance plans. Some reasons can push you to buy a health insurance policy like tax benefits etc.

 Importance and benefits of Health Insurance in India



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Health Insurance in India is one of the fastest-growing industries. Buying a health insurance policy for yourself and your family is crucial because medical care is expensive, especially in the private sector. A health insurance policy safeguards you and your family against the risk of a sudden hospitalization and all the related expenses. It is the only way by which you can rescue the financial burden of an uninvited surgery or illness. Health insurance policies in India will not only guard you against the present and future-driven healthcare costs but will also guide you on the path to wellness for the long term. Health Insurance plays a pivotal role in saving and planning for health-related emergencies. The benefits of health insurance in India are Cashless Treatment, Pre and post hospitalization cost coverage, Transportation Charges, No Claim Bonus (NCB), Medical Checkup, Room Rent, Tax benefits, etc.

Types of Health Insurance in India


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Health insurance in India is the most important and cost-effective way of protecting your finances. Without knowing the types of health insurance plans available in India, you can’t ensure the right deal. Buying health insurance is easy, only if you approach the right way. There are two types of health insurance policies -Indemnity Plans and Defined-benefit Plan. Indemnity plans are the traditional health insurance that covers your hospitalization expenses up to the sum insured which includes Mediclaim Insurance, Unit Linked Health Plans, etc. Mediclaim insurance compensates you for the hospitalization expenses incurred due to illness or accidental stay. It includes in-patient expenses such as nursing charges, surgery expenses, etc. Individual insurance policy is meant for an individual only. The insured can claim up to the basic sum insured. In the Defined benefit plan, the insured is compensated for a lump sum amount on the detection of illness. These plans include Critical Illness Plan etc.



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