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what-is-health-insurance

WHAT IS HEALTH INSURANCE

Health Insurance in India is a crucial topic due to various reasons; one of them being the high inflation rate in medical costs, which is rising around 15% every year. In addition to surging medical expenses, the increase in lifestyle diseases is also affecting many people. This has affected the livelihood & savings of the majority of families. With the help of medical advancements, life expectancy in India has also risen. Also, treatment costs at good hospitals in India are comparatively higher than the costs at a Government hospital.

Hence, an accident or illness shall put you in financially unstable conditions or may force you to compromise on your well-being & quality treatments. This results in loans, mortgages and sale of assets just to keep the person alive. In such unpredictable situations, health insurance provides the much needed financial stability to an individual or family by covering the costs of hospitalization, surgeries, treatments, medicines, etc. Hence it stands to be imperative. However, the majority of the population in India is still either uncovered or under-covered.

Your health insurance policy is an agreement between you and your insurance company. The insurance company agrees to cover the cost of certain benefits listed in your policy against the premium you pay every year for being covered in the health insurance policy.

BENEFITS:

  • Covers all hospitalization cost from accident to all types of illness
  • Tax saving benefits under section 80 D
  • Wide range of cover options from 1 Lac to 2 Crores
  • Available in affordable premium in annual & EMI options
  • Cover available for all age groups from child to senior citizen without age limit
  • Provides lifetime renewability option
  • Most of the plans currently provide free health check-up for all insured members every year
  • Wide range of cashless treatments available at network hospitals across India
  • Few Insurers also provide Domestic & International emergency air ambulance service