Learn 5 Crucial Benefits of Health Insurance

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Every year, thousands are spent by every household in India towards medical requirements and healthcare. Once you factor in the inflation rate and the rising costs of healthcare, it becomes all the more evident that the best health insurance policy is not just an add-on but a dire necessity for every family. 

Health insurance policies help you take care of your hospitalisation and treatment costs in the most hassle-free manner possible. This way, you can focus on getting the best treatment and going back to being hale and hearty while your policy takes care of all your bills. 

With the help of the best health insurance policy in India, you can save yourself from the unplanned expenses and having to arrange a large sum of money at the last hour. However, before zeroing in on the best health insurance plan, it is essential that you know the benefits and coverage options that you and your family members can avail. Here are some of the crucial benefits that your health insurance plan can offer: 

A. Hospitalisation Costs

  • Pre-hospitalisation: Various pre-hospitalisation causes, like a diagnosis for a particular illness or disease, is covered in the best health insurance plans.
  • Post-hospitalisation: Your post-hospitalisation costs could include various medical and health-related expenses incurred post-discharge. Most insurance plans cover these costs between 45 to 90 days after the patient is discharged.
  • Accidental hospitalisation: accident-related costs or any costs that are incurred in due course of your hospitalisation, which may have been incurred due to an accident, would be covered by your health plan. It is advisable to check if the health policy that you have shortlisted covers this benefit before you sign the dotted lines.
  • Illness-related hospitalisation: Your health insurance plan can cover treatments or procedures for various illnesses, ensuring you need not stress on arranging payment and can focus solely on getting the best treatment possible.
  • Day-care procedures: There may be a scenario where treatment is needed, but you may not have the need to be hospitalised overnight. Yet, the bill for these types of treatments can also be very sizeable. A health insurance policy can help you cover these expenses as well. This is one of the significant benefits of having a health insurance plan handy for yourself and your family

B. Transportation Cover

It is always difficult to worry about transportation when in dire need, and this is one of the most stressful points for family members. However, a health insurance policy can help you take care of this by covering ambulance charges. These charges are pretty high, especially in metropolitan cities, and having this covered in your insurance plan can be quite helpful.

C. COVID-19 Cover

In lieu of the current pandemic, there are many types of COVID-19 insurance covers that cater to coronavirus hospitalisation and treatment cover, which can help you avail the best treatment and make it easier on your pockets too. 

These types of covers offer hospitalisation coverage if the policyholder or the beneficiary has been hospitalised for a minimum of 24 hours upon being diagnosed with COVID-19. Certain policies also offer pre-hospitalisation and post-hospitalisation cover for a period of up to 30 days. 

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D. No Claim Bonus Benefits

For every passing year that no claims are made on your health insurance policy, you earn a no claim bonus anywhere between 10% to 20%. Insurance providers often extend this amount as an additional sum insured for the same premium amount for the succeeding year. This is one of the benefits that many policyholders look forward to as it helps increase your sum assured year on year.

E. Complimentary Annual Check-Ups

It is always advisable to have routine health check-ups to know everything about your health status and be pre-informed if there are any alarming symptoms. With the best health insurance plan, you can easily do that as your routine annual check-ups are covered under the health insurance plan.

What More Can You Get From The Best Health Insurance Policy In India?

Apart from the hospitalisation and transportation cover that most best health insurance plans offer, you can also avail of tax benefits when you buy one. Under section 80D, you can enjoy various tax benefits on the premium that you are paying towards your health insurance or towards an insurance plan for a dependent. Overall, as per the Income Tax Act , you can avail of a deduction of up to Rs. 1,50,000 according to the old tax regime in India. 

Nowadays, buying a health insurance plan no longer requires multiple visits to the insurance branch and back and forth with the agents. Insurance providers have made browsing for various plans, understanding benefits, and even purchasing health insurance online a quick and hassle-free process. Make sure to look for the above benefits and look for comprehensive coverage when buying best health insurance policy in India for yourself and your loved ones. 

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