“Health is wealth” is exactly what it means. Lifestyle changes, rising pollution levels and many other factors have a significant impact on human health. This can lead to various health problems and medical conditions. Medical costs associated with treating such diseases are increasing rapidly. Investing in health insurance is necessary to protect your family from high medical bills.

What is Health Insurance

Health insurance is a contract between the insurance company and the policyholder, to compensate for medical expenses. Health insurance is an absolute requirement that cannot be overlooked. It is difficult to miss financial protection when considering the various benefits it provides.

Health Insurance Benefits

1. Coverage against medical expenses

The main purpose of health insurance is to get the best medical care without wasting your finances. Health insurance provides protection against high medical costs. It covers hospital bills, daycare procedures, home costs, ambulance costs, and more. So instead of worrying about such high costs, you can focus on a speedy recovery.

2. Coverage against critical illnesses

Insurance companies offer critical illness insurance as a separate plan or as a supplement. Such insurance provides protection against life-threatening illnesses such as kidney failure, bone marrow transplantation, stroke, loss of limbs, among others. You are entitled to a lump sum if you are diagnosed with one of the serious illnesses on the prescribed list in your policy. This amount can be used to cover medical expenses, daily living expenses, and other financial obligations.

3. Cashless claim benefit

Many insurance companies offer cashless claims processing. Such arrangements do not require you to pay out of pocket. Hospital expenses are settled between the insurance company and the hospital. To use this service, you must be enrolled in one of the insurance company's hospital networks. Fill out a pre-authorization form and present your health insurance card to use cashless facilities.

4. Additional protection over and above your employer cover

Many organizations protect their employees with group insurance. However, such policies are not tailored to each individual's needs. You may also remain uninsured if you lose your job or change jobs. To protect yourself from such events, take out personal health insurance.

5. Tax benefits

Health plans offer tax benefits. Premiums paid for health insurance are tax deductible under Section 80D of the Income Tax Act 1961.

Keep these benefits in mind and choose from the numerous health insurance plans available in the market. Don't miss the chance to enjoy all these benefits by choosing the best plan based on your personal needs and requirements.