What is Health insurance?

Health insurance is a type of insurance that covers medical costs resulting from illness. These expenses can be related to hospital costs, medicine costs or medical consultation fees.

Why to buy Health insurance?

Illness can use up whatever savings you have made towards school, marriage, buying a house, or even your children’s retirement. You wouldn’t want your family’s dreams to be shattered just because of an illness,

Living in this hectic world is becoming more and more stressful and leads to major health problems, especially among Indians. Millions of Indians die from heart disease and diabetes, which, according to a WHO report, is the leading cause of death in India. Apart from this, respiratory diseases, birth complications and infectious diseases are also rampant.

Now, the best way to prepare for such situations is to avail health insurance policies.

It pays to buy health insurance when you are young and healthy. As you get older, not only does your premium increase, but you also run the risk of being denied health coverage by the insurance company.

Health insurance will help in income tax exemption in section 80D

Check article “How to save income tax through section 80D”  

Why Health insurance essential at Covid time?

Covid time teaches us why health insurance is important I our life, now everyone is at risk and since the disease is also new to the world, the treatment is still under development and optimization. Now following points will highlight why it is important.

High demand of ICU treatment

The challenge with Covid-19 treatment is that a large number of hospitalized cases require intensive care treatment and possibly respiratory assistance. With the current workload in India, both of these cases are rare and expensive resulting in the cost of treatment rising very quickly.

Cases of hospital charges of up to Rs. 10 lakhs in level 1 and level 2 cities are not uncommon. Without Mediclaim, that’s a huge bill for the average Indian citizen.

Whole family at risk due to covid:

The likelihood that several members of a family will contract the virus and require hospitalization is not too low, as many surveys report. Several cases of hospitalization of the same family can quickly add up to huge expenses often draining the savings of a lifetime. Health coverage can save families from financial ruin in such cases.

Equipment cost is high in treatment:

Even where hospitalization does not require intensive care, the cost of general treatment is high due to the special protective equipment required for Covid-19. Personal Protective Equipment (PPE) kits, including gloves, masks, and other supplies to protect healthcare workers, come at a cost, and the final bill amount could still end at a few lakh rupees. because of this.

Emergency coverage:

Often, immediate hospitalization is required due to the sudden drop in oxygen levels. This is of more concern in rural and semi-urban areas where regular transport at irregular times can be difficult. During such times, the ambulance coverage provided in a health care plan can be a savior.

How to choose best health insurance for you and your family?

Anyone with a health insurance policy will tell you that purchasing a health insurance policy is one of the smartest financial decisions for any successful person. Now that you have decided to purchase a health insurance policy, you should know how to select a good health insurance plan that will take care of all of your needs. Here is a list of the benefits that any good health insurance plan should offer you:

  • Protection against a large number of serious illnesses
  • Flexibility to choose your health coverage
  • Check insurance company having high Incurred claim ratio
  • No increase in premiums during the term of the contract, even if your health changes
  • A long-term policy that covers you even in your old age
  • Large hospital network for easy access to medical care
  • Check star rating of health insurance on policy bazar

How to buy health insurance?

You can buy Health insurance plan online you must go to policy bazar from there compare and buy the policy following the below mentioned steps:

Step 1: Log on to www.policybazar.com and click on “Calculate Premium”.

Step 2: Enter your personal information like Name, Mobile number, Gender, Smoker/Non-Smoker, Date of Birth, Annual Income. Click on “Calculate Now”.

Step 3: Enter health Cover amount, premium payment term and click on “Proceed”.

Step 4: Select Riders and click on “Proceed”.

Step 5: Enter all the essential information required and click on “Proceed”.

Step 6: Select your Payment method and click on “Pay”.

Conclusion

Health insurance is one of the most essential investments, not only does it give you security in uncertain times and a tax saving, but the most important peace of mind by giving a small premium to health insurance companies, everyone must buy it as soon as possible.

Leave a Reply

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