Health insurance is a type of insurance coverage that typically pays for medical, surgical, prescription drug and sometimes dental expenses incurred by the insured. Health insurance can reimburse the insured for expenses incurred from illness or injury or pay the care provider directly. It is often included in employer benefit packages as a means of enticing quality employees, with premiums partially covered by the employer but often also deducted from employee pay checks. The cost of health insurance premiums is deductible to the payer, and the benefits received are tax-free.
Need for Health Insurance
Health insurance provides financial protection in case you have a serious accident or illness. A proper health coverage can help protect you from high, unexpected costs. Also, Family is the most important asset that you have, and your family also depends on you for financial support. Therefore, it is important to make sure that you and your family are completely secure to face any emergency.
When a friend, relative, or colleague first introduces you to health insurance, it is very easy to assume that it is an unnecessary expense. But look deeper, and you will see that health policies are one of the best ways to keep your health secured and protect yourself against the rising healthcare costs.
1. Insurance Coverage
One of the most important health insurance advantages is insurance coverage. The policies have a fixed sum insured which the insurer will pay in case if you need medical care. With the changing lifestyle and rising number of people suffering from critical illnesses, health policies are an effective
way to get the best medical care without worrying about the expense.
2. Plans to Suit Your Custom Needs
The insurance industry in India is rapidly growing and coming up with products that meet the custom needs of the consumers. As a result, it is now possible to find health insurance policies that are in line with your health and insurance needs.
No matter if you are in your 20s or 50s, healthy or suffering from a medical condition, single or married, there are now plans available for everyone.
3. Tax Benefit
If you are looking for an effective way to reduce your income tax burden, health insurance can help you in this endeavour as well. Under Section 80D of the IT Act, you can claim tax deductions of up to Rs. 25,000 that you pay towards your health insurance premium in a year. If you have purchased a health plan for your senior parent/s, there is an additional tax benefit of up to Rs. 50,000.
4. A host of Riders to Choose From
Many of the insurance providers now also offer different types of riders such as critical illness coverage, accident cover, maternity cover, and more. While these riders do slightly increase the policy premium, they significantly enhance the scope of your policy and offer added benefits.
5. Additional Advantages
There are also several additional health insurance benefits. For instance, many of the plans come with features like cashless claims, ambulance coverage, pre/post hospitalisation coverage, NCB (No Claim Bonus), and more. Combined with the reasons listed above, these additional benefits further increase the importance of health insurance.
Your health is your only true wealth, and health insurance is one of the best ways to keep it protected. Look for a reputed insurance provider and discuss your requirements to select a plan that is highly affordable and offers maximum features and benefits.
What it Covers?
- Covers pre and post hospitalisation
- Covers pre-existing diseases
- Provides cashless treatment
- Let’s you claim tax benefit
- Covers ambulance expenses
- Provides additional sum insured
What it does not cover?
- Cosmetic procedures
- Fertility Treatments
- Off-Label Prescriptions
- New or advanced treatment procedures
Emedlife offers you deeply researched insurance products to ensure your personal and your family’s health are well taken care of. Also, we understand the importance of swift response and efficient service in handling claims, which makes it more practical to get health insurance through us. Access your insurance policies through single login, service requests, MIS, and renewal alerts.
Talk to us today to start safeguarding your health at an affordable price and for reliable claims management.
For registration of claims and to learn more about our claims process please contact our dedicated claims team for advice on an incident/claim.