How can Health Insurance keep you out of trouble?

How can Health Insurance keep you out of trouble?

The present-day life of a common man is full of long and busy working days that involve late hours, the effect of pollution, unhealthy food habits, and a non-stop lifestyle. Due to the changing scenario of habits of the common man, health and life-span are constantly dropping to a worrisome level. Other than improving health habits, it is important to stay prepared for any immediate health-related risks in advance.

Health insurance is one of the most effective solutions for any sudden health-related tragedy these days as they ensure coverage for many critical diseases and illnesses.

How does Health Insurance help?

Not everyone can afford the kind of money that is involved in health and medical treatments today. A health insurance gives you a way to pass through that barrier and be safe and sound financially when it comes to any sudden risks regarding your health.

Policyholders often fail to take full advantage of the insurance policies due to lack of knowledge. Many people presume that purchasing a health policy covers only hospitalization charges. However, that’s not the actual case.

The best health insurance plans ensure coverage of other expenses as well. It should be kept in mind that the utility of an insurance depends on its features as well as the knowledge to use those features in the best possible way. Other than the basic policy, there are options available for purchasing additional health covers as well.


Additional Covers Available

Purchasing a health insurance plan for yourself or your family is a unique task in itself as the needs of individuals as well as their families are different as compared to others. While a basic health insurance policy provides different benefits included in it, you can also opt for additional covers in order to address any specific requirements of your choice. The benefits provided by these covers can be added to the base plan purchased by you. The cost of riders or additional covers is paid above the base premium.



1) Critical illness cover

The term critical illness refers to any terminal disease. A critical illness cover is beneficial in the cases of illnesses like cancer, heart attack, tumour, etc. as it provides a lump-sum amount regardless of the medical expenses occurred. However, you can make a claim only once on your critical illness cover, post which the policy stands terminated.

2) Personal accident cover

As the name suggests, a personal accident cover offers coverage in the cases of accidental death, permanent disability or temporary disability like fractures in limbs or temporary blindness, accidental dismemberment and medical expenses.

3) Top-up cover

These kinds of plans are created to provide add-on benefits to the basic health insurance cover taken by an individual. These are useful when you need to upgrade the amount assured by your basic plan. A top-up cover reimburses the amount other than the base cover for one hospitalization.


What You Can Expect

Though different health insurance plans cover different benefits, you can surely consider the following reasons to be the backbone of purchasing any health insurance or medical policy.

  • Buying a health insurance ensures secured financial planning for you in times of medical emergencies.
  • A medical policy covers health benefits which are important for maintaining your health and treatments for illnesses and accidents.
  • With the aid of a health insurance, you are saved from high medical costs for treatments.
  • Preventive care such as vaccines, screening, and check-ups are covered for free before you meet your deductible.
  • Premium insurance plans offer you the benefit of comprehensive and holistic illness coverage, thus providing you security for your retirement.
  • Opting for a medical policy at a young age can be even more beneficial as the premium amount charged will be comparatively lower.
  • Buying a medical policy will allow you to avail tax benefits under Section80D of the Income Tax Act, 1961, in which you can claim for the premium you pay as a deduction.
  • Popular insurance plans offer wide coverage that includes day care procedures, maternity expenses, OPD benefits, etc.

Increasing healthcare costs can often disturb your finances in case of unforeseen health troubles. Therefore, paying a small insurance amount is the safest solution to minimize the chances of financial risks.

You cannot assure certainties in today’s times and therefore, it is a good option to purchase a health insurance plan from the best insurance companies. Get the benefits in the basic health plans that you can afford and add riders to the policy if you have specific requirements for safety.

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