beşiktaş escortizmir escortşişli escort bayanelitbahisbodrum escortataşehir escortkayseri escortfethiye escortankara escort siteleribeylikdüzü escortdiyarbetdiyarbetganobetbetmarlosweet bonanzagaziantep escortgaziantep escortantalya escort bayanmanavgat escort bayanpendik escortkurtköy escortataşehir escortkartal escortümraniye escortbostancı escortkadıköy escortKadıköy escortAnadolu Yakası EscortAtaşehir escortBahçeşehir EscortBostancı escortizmir escortdeneme bonusu veren sitelermarmaris escortdeneme bonusu veren sitelerı casinoamplifeeder.comdeneme bonusubonus veren siteler veren siteler
BusinessFeaturedHealth and Fitness

Top things to note about your health insurance policy


Did you know that about 40 crore people (nearly 30%) in India currently don’t have any health insurance? These individuals have to pay the entire hospitalisation cost by themselves. A healthy individual can anytime have an accident or fall prey to diseases. Thus, a health insurance policy is the need of the hour. 

Medical treatment costs are increasing in India with each passing day. If we do not have health insurance, we could be leading ourselves to financial hardships. 

Also, modern lifestyle is unhealthy, leading to more health ailments. Non-communicable diseases like diabetes, cancer, stroke, etc., have also been increasing rapidly. The global pandemic has re-emphasised the importance of health in our lives.

What is a health insurance/accident insurance policy? 

A health insurance policy is a policy that provides you coverage against medical expenses that may occur due to accidents, illness, or injury. 

Health insurance benefits people by helping them meet their hospital expenses and all the costs related to the treatment. 

Now, let us find out the benefits of a health insurance policy that you might not know.  

  1. Free medical check-up

You might not know that almost all health insurance companies provide a free medical check-up for their customers. However, it may depend upon the insurance company you have opted for. Most people are afraid that their premiums might increase if an illness is detected in their check-ups. This is just a myth. If you get a disease, your premium will not increase unless you opt for a higher sum insured.

  1. Tax benefits

Taking health insurance will provide you with security and help save taxes. 

Taking a health/accident insurance policy can help you save taxes under section 80D of the Income Tax Act.

Not just the premiums paid for yourself, but your parents can also be availed as a deduction. However, the amount of deduction will depend upon the insured’s age. 

  1. Alternative treatment options

Nowadays, many people are trying different methods for treatment, such as Ayurveda, Yoga, Unani, Siddha, and Homeopathy. Many insurance companies also cover the expenses that may incur through these methods.

  1. International coverage

You might know that your expenses on medical treatment abroad are not covered. However, many companies nowadays are providing international coverage. This means the costs you incur on the medical treatment abroad will also be covered. 

  1. No-claim bonus

It may happen that in a particular year, you might not avail of health insurance benefits. So, in that case, you can avail of a no-claim bonus.

As the name suggests, a no-claim bonus implies that you can get a bonus for not taking a claim in the previous year.

In a no-claim bonus, the insurance company will allow you to increase the sum insured or offer a discount on the premium payable at the time of renewal.

  1. Top-ups

In case your hospitalisation expenses cross the base limit, you can pay the remaining costs with the help of a top-up plan. 

Suppose you have an insurance plan of Rs. 7 lakh and a top-up of Rs. 3 lakh. Now, if your hospital expenses are Rs. 8 lakh, then you can use your health insurance plan of Rs. 7 lakh and the top-up of Rs. 1 lakh. 

  1. Restore benefit

Suppose an individual has a policy with restore benefits, and his sum insured gets exhausted for a particular treatment. His sum insured will be renewed if he claims a different illness in the same year. 

For example, let’s say Mr. Shyam has a health insurance policy of Rs. 3 lakh with restoration benefits. He was diagnosed with cancer, and the entire sum insured of Rs. 3 lakh gets exhausted.

A couple of months later, he has to undergo heart surgery, which will cost Rs. 2 lakhs. Now, as he has restoration benefits, the insurance company will cover the cost of his medical treatment as the original sum insured has been restored. 

The pandemic has shaken many of the people to their core. Many of us have been working from home and studying from home these days.

So, a health/accident insurance policy is crucial in these times. However, before buying a policy, do your research, find out all the health insurance plan details, and keep in mind all the points mentioned above.

There has been a significant shift in our lifestyles. This shift in our lives will undoubtedly affect our health in the future. Even younger age groups are prone to more diseases.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button