It is a sort of Insurance that offers medical coverage against medical costs coming out of a health emergency. A health insurance plan provides financial help to the policyholder to cover hospitalisation costs, daycare procedures, ICU charges and critical illness benefits.
It is indemnity based Insurance that offers comprehensive coverage with many benefits, including advanced medical treatments, daycare treatment, cashless hospitalisation, AYUSH, and thats only the tip of the iceberg. If hospitalisation is needed during the policy time frame, you dont have to pay from your side. The health insurer will bear your medical costs subject to policy T&C.
There is a premium that you need to pay for the coverage you get under the policy. You can track down the different choices for the sum insured to select according to your medical care needs.
Your familys health and prosperity matter the most for you. However, the pandemic has been an update that we live amid vulnerabilities. Along these lines, having a standalone health insurance cover is beneficial. Without health insurance, the financial effect of causing unforeseen hospital expenses can be overwhelming, given the heightening health care expenses.
Health Insurance is a reasonable investment that guarantees a safe future. The pandemic has changed everybodys perspective as an ever-increasing number of individuals are starting to understand that health Insurance is something more than a tax-saving tool. It is the need of great importance since getting medical aid is becoming costly.
Medical inflation is increasing each day, leading to expensive treatments. If you get hospitalised for a critical illness or lifestyle disease, you might wind up losing all your savings. The best way to bear the cost of quality medical treatment during a health crisis is by buying a Health Insurance Policy. Here are several reasons why you need to buy a health insurance plan:
It assists you with managing the cost of the best quality medical treatment and care so you can concentrate on getting cured.
Pay for the long-term treatment of lifestyle diseases like heart attack, cancer, and so forth that have been on the rise with the evolving ways of life.
It assists you with securing your well-deserved savings by covering your medical costs so you can benefit from the necessary treatment with next to no financial concerns.
It permits you to get a cashless hospitalisation facility at any of the network hospitals of your Insurance provider by raising a cashless claim.
A health Insurance policy can assist you with taking care of your medical expenses, including pre and post-hospitalisation costs, notwithstanding the rising medical expenses
It facilitates you to save tax on the Health Insurance expense youve paid under section 80D of the Income Tax Act for better financial planning.
It permits you to get medical treatment with peace as you dont need to stress over covering the high-cost hospital bills.
*Note: Tax allowance on health Insurance premium is subject to rules and guidelines of the Income Tax Act.
Selecting the best health insurance plan includes cautious planning and considering various factors:
The initial step includes recognising your and your familys medical care needs and choosing a reasonable plan. On the off chance that you have old parents at home, it is insightful to recognise the significance. of Health Insurance and go for a senior citizen health insurance plan.
The following factor to consider is acceptable coverage in terms of the sum insured, remembering the probable health hazards. Search for a cashless hospitalisation feature in your health care plans that let you benefit from cashless treatment in any network hospital.
Modest premium and reasonable sub-limits on specific medical costs for the highest conceivable coverage are other elements to search for while selecting Indias best medical Insurance policy.
Here are a few essential points which will assist you with settling on an informed choice while looking for the best health insurance in India:
Buy a policy that offers you the correct coverage sum for various medical costs caused by you, including pre and post-hospitalisation costs.
Look for access network hospitals of your insurer for easy and cashless treatment.
Select plans with benefits for a claim-free year like higher sum insured and discounts on premium expenses.
Pick a health insurance plan that gives extensive maternity cover benefits.
Choose a medical policy with highlights like annual health check-ups.
Consider the advantages as far as a high claim settlement proportion and hassle-free processing of claims.
Here are a few essential points which will assist you with settling on an informed choice while looking for the best health insurance in India:
Cover your costs like room rent, ICU charges, doctors fees, and so on, during any planned or emergency hospitalisation up to the sum insured.
Cover your medical costs like doctors consultation, medical tests, and medications as long as 30 days before admission to an emergency hospital.
The medical costs, as follow-up visits and medical trials, are covered to 60 days following discharge from the hospital.
Access advanced medical care and seek coverage for such treatments, including robotic surgery procedures, within a Health Insurance Policy.
The regular costs during hospitalisation can be significant! We give a proper sum to cover them.
Some health plans offer this advantage where the domiciliary care medical costs are covered up to a predetermined period.
Protect yourself from the COVID-19 pandemic as health insurance covers specific costs of Covid treatment.
Try not to let the absence of proper finances dissuade your confidence in alternative medication. Now, we cover AYUSH treatments as well!
Before you continue to select the right health cover for your requirements, look at the exclusions referenced in the policy documents. Doing as such will keep you ready for any possibility. Exclusions are costs or the different situations when you may not be qualified to get a claim under your health policy. The exclusions include:
Expenses owing to use/abuse/misuse of liquor or drug
Any treatment or medical costs caused within 30 days of policy period start date, except for accidents
Medical treatment identified with congenital illnesses
Select plans with benefits for a claim-free year like higher sum insured and discounts on premium expenses.
Expenses brought about because of self-incurred injury, suicide, or attempted suicide
Treatment emerging from or recognisable to miscarriage and abortion
Comparing health insurance quotes online helps you select the best health plan to suit your medical care needs. At times, choosing the best health insurance plan, countless insurers offer distinctive health Insurance products with significant provisions. MyPolicyJunction understands the customers confusion and consequently offers a platform where you can think about various health insurance plans elements, sum insured and statements online. Here are a few of the significant benefits of comparing, buying and managing a health insurance plan online:
Comparing diverse health insurance plans online is both efficient and helpful. You dont need to continue to meet with the agents to analyse and choose the best plans. Moreover, a few tasks, for example, paying expenses, renewing the health insurance plans, and so on, are likewise simpler through online mode.
f a customer purchases a health plan online, they will want to analyse the premium and select the one that fits their budget. Likewise, no business or agent fees are demanded and thus, the buyer ends up saving a lot of cash.
It offers easy admittance to each medical insurance policy accessible in the market. It likewise saves the purchasers from managing the Insurance agents who are known to give inconsistent and one-sided information more often than not.
Quick answers to common questions.
What is the right age to buy health insurance?
Health Insurance coverage can be given from Infant to any Age as per Product entry Age. Health Insurance covers Accident as well as Ill Health, hence everyone has to avail as early as possible. Health Insurance comes with timely waiting periods, hence it is better to avail early and cross the waiting periods when Healthy.
Will I get coverage for pre-existing diseases?
Yes, all health insurance plans cover pre-existing diseases. They are covered after a waiting period of 1, 2, 3 & 4 consecutive years depending on the Product selected. To know about the waiting period, please check Policy documents carefully.
Does health insurance policy cover healthcare expenses related to COVID-19?
Yes indeed, health insurance plans cover COVID-19 hospitalization costs. Specialized Products related to COVID-19 health plans like Corona Kavach and Corona Rakshak are available. It also includes the expense of consumable things like PPE packs, ventilators, etc.
Do health insurance covers robotic surgery & modern treatments?
A few health insurance plans in India do cover the expense of robotic surgery and modern treatments. It’s advised to read the policy wordings to check if it covers robotic surgery and modern treatments.
What if the insurance company refuses to settle my claim and I want to file a complaint?
To monitor the grievances of policyholders, IRDAI has carried out the Integrated Grievance Management System (IGMS). It is a platform where policyholders can register their complaints with insurance companies first and whenever required; it tends to be escalated to IRDA Grievance Cells. Insured can reach IRDA Grievance Call Center (IGCC) by calling toll-free number 155255 or by emailing complaints@irda.gov.in.
Registration ID: CA0690ISNP
Permission Ref: IRDAI/INT/ISNP/2021/97
Dated: 02/07/2021
