What are the Health Insurances?

Well, health insurance includes various plans and policies which help you financially when you needed the most. for example, if you get hospitalized, then your health insurance policy reimburses the person for medical and surgical treatments. But yes that person needs to give all documents related to it.

The insurance company also provides the facility of cashless hospitalization. They provide reimbursement for the incurred expenses.

 

Health Insurances In India

Health insurance is one of the fast-growing industries among all insurance. But still, it needs more awareness among the people. According to the NSSO, ONLY 20% of the population has health insurance coverage in India. Plus only 18% of the population in urban areas and only 14% of the population in rural areas have health insurance coverage in India.

Well, the medical expenses are very huge that creates a financial burden on the patient’s family. Many of the Indians don’t have good knowledge about it and some of them have myths about health insurance. So if you want health insurance, clear your doubts with good research.

 

Comparing Health Insurance

Well comparing health insurance helps you to save money and choosing the right insurance for you. In this industry, there are hundreds of insurance providers. They offer different types of policies with different benefits and limitations. So it becomes a necessity to compare them. Otherwise many people end up buying low-cost plans which results in them facing difficulties at the time claim. they get very low claim amounts which creates a financial burden on them. On the other hand, some people buy very costly insurance and find out later that the features they are getting are not used or might never need.

 

Best health insurance policies in India by top companies

  • Max Bupa health insurance
  • HDFC ERGO health insurance
  • Bharti AXA health insurance
  • SBI health insurance
  • L&Thealth insurance
  • National health insurance etc.

 

Benefits of comparing

  • accurate information about different policies
  • no need to have an agent
  • pocket-friendly
  • availability of insurance provider reviews

 

Which health insurance you should buy?

  • Coverage of the insurance policy for your treatment bills- insurance offers you the cashless facility and claim reimbursement
  • A fixed amount to bear expenses of hospitals on regular basis- hospital cash plan
  • Any serious illness or disease and you want a lump sum amount to help your family with daily expenditure- critical illness insurance
  • A fixed amount to avoid any financial trouble while having treatment for a disability causing income loss due to an accident-personal accident insurance
  • Coverage of expenses in pregnancy-maternity insurance
  • Coverage of the entire family in one plan at the time of need-family health plan
  • Coverage for senior citizens’ health issues:-senor citizen health insurance.

 

Features of Health Insurance Policies In India

Cashless treatment

Insurance companies have tied up with many hospitals and nursing homes. If you are admitted to the network hospitals then you are in good advantage. All you need to do is to submit your policy number and all the things will be taken care of by your insurer.

 

Pre and Post hospitalization expenses

many health insurances have a feature that they cover your pre and post expenses. but yes you need to submit proper documents.

 

No claim bonus

It is provided to the insured person if there is no claim for any treatment in the duration of the policy.you can claim this amount at the time of the renewal of the policy.

 

Free medical checkups

Many insurance companies give free medical checkups with the policy.

 

Tax benefit

Well, the premium paid for health insurance in India has tax benefits. It comes under the section 80D income tax act. It means that the premium you pay on health insurance for you and your family is exempted up to certain limits, whether members are dependent or not.

 

To  sum up

Health insurance is really useful. It relieves you from financial worries regarding health. There are many insurances available in the market having different offerings and limitations too. So before taking any health insurance, you need to analyze them well and choose which suits you the most.

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