Save tax up to ₹75,000~ u/s 80D
Save tax up to ₹75,000~ u/s 80D
Did you know that 63% of Indian families face out-of-pocket healthcare expenses every year? We live in a period where health issues see an upsurge with each passing day. A major health emergency can blow a hole in a person's pocket and, in most cases, affect their savings. The importance of health insurance has become inevitable in such a situation.
Health insurance is a type of insurance that covers the medical expenses incurred by the policyholder. It’s a contract between the insurance company and the insured, which shields you from the potential expenses associated with healthcare. It ensures you receive necessary medical attention without facing substantial financial strain. Health insurance plans cover a range of medical expenses such as hospital care, medications, domiciliary healthcare, and routine check-ups. One of the key advantages of health insurance is its convenience through quick disbursals and cashless hospitalisation. With a streamlined process and easy availability of funds, you can access quality healthcare services on time.
When a medical emergency strikes, you not only need emotional support but also financial support. This is where health insurance comes to your rescue. Thus, knowing the different types of health insurance plans available in India is advisable:
In India, not even 20% of people are insured. With lifestyle diseases on the rise, pollution, stress, and higher healthcare costs, health insurance is a must these days. However, people are still struggling between government and private health insurance plans. Here’s the difference between both:
Feature | Government Schemes | Private Health Insurance |
---|---|---|
Coverage Limit | ₹5 lakh (e.g., Ayushman Bharat) | ₹5 lakh-₹6 crore or more |
Hospital Access | Limited to empanelled govt hospitals | Private multi-speciality hospitals |
Personalisation | Standardised benefits | Customisable sum insured, add-ons |
Add-ons | Not available | Maternity, OPD, Critical Illness, etc. |
While schemes like Ayushman Bharat PM-JAY offer great support for underprivileged families, a private health policy offers better personalisation, broader coverage, and faster access to treatment.
Health insurance plays a crucial role for various groups of people, each with their unique needs. Let us discuss in detail why health insurance is essential for individuals, domestic help, students, and those living in metropolitan cities:
Why start early? Because life is unpredictable, even in your 20s and 30s.Health insurance has become crucial due to the rise of health issues among younger adults. For individuals, especially those in their 20s-30s, health coverage ensures they can access quality care without bearing high medical expenses. Early coverage also helps secure lower premiums and better bonuses for the future.
Domestic workers are the most financially vulnerable population. They often lack a healthcare backup, leading to financial strain during sickness. Health insurance ensures they get the necessary and quality medical attention and timely treatment without straining their savings.
Students may be young and active, but they’re not immune to health risks. From viral infections and foodborne illnesses to injuries during sports, unexpected medical issues can disrupt their education and cause financial strain to families. Hence, a family health insurance plan can cover all these unexpected medical issues, offering them peace of mind. It is also a cost-effective way to manage medical expenses and provides access to affordable healthcare.
Living in a metropolitan city exposes individuals to higher pollution, stress, and a faster-paced lifestyle, all of which can lead to health problems. In such environments, having health insurance is crucial to cover medical expenses related to chronic conditions, accidents, or emergencies. It also helps reduce the high costs of healthcare in cities where treatment can be expensive.
A typical health insurance policy from Care Health Insurance includes:
Coverage Type | Included in Care Health Plans |
---|---|
Hospitalisation Costs | Yes✅ |
Daycare Procedures | Yes✅ |
Pre & Post Hospitalisation | Yes✅ |
Critical Illness Coverage | Yes✅ |
Maternity & Newborn Cover | Yes✅ |
COVID-19 Coverage | Yes✅ |
AYUSH Treatments | Yes✅ |
Domiciliary treatment | Yes✅ |
Ambulance charges | Yes✅ |
Free annual health checkups | Yes✅ |
Let’s break it down:
Feature | Step |
---|---|
Choose a Plan | Select based on sum insured, coverage needs, and add-ons |
Pay Premium | Monthly/annual payment keeps the policy active |
Hospitalisation | You get admitted to a network or non-network hospital |
Claim Process | Opt for cashless or reimbursement |
Insurer Pays | Insurer settles the bill as per the policy terms and the category of admission |
Tip: Always read policy inclusions, exclusions, and waiting periods.
We all know why health insurance is important. But are you aware of its benefits? Health insurance is one of the best safety nets nowadays that eases your financial burden. Let's discuss some of the benefits:
Example: A heart bypass surgery may cost ₹2–4 lakh. With heart health insurance, your out-of-pocket cost could be near zero in a network hospital.
Comparing health insurance plans helps you find the best deal at the most affordable premium rates. A comprehensive plan with wide coverage and customisation options can offer even more benefits. Whether you need coverage for yourself or your loved ones, comparing plans before selecting the best one is essential.
Here are the reasons why comparing health insurance is essential:
Comparing health insurance plans is easy in today’s tech-savvy world. Here’s how you can quickly find the best deal:
Health insurance is essential today due to rising medical costs. It offers significant benefits, including coverage during emergencies and tax savings. With rising inflation, the need for health insurance has become evident. Let’s examine how having health insurance impacts your living standard.
There are multiple factors to consider while buying a health insurance plan. Let us discuss a few smart tips to select the best health insurance plan for you and your family:
These factors easily indicate that having the best health insurance plan is highly beneficial. There are many customised health insurance plans that one can buy according to the health needs of the person and their family, such as health coverage for senior citizens, maternity cover, personal accident cover, and so on.
With Care Health Insurance, you can get health insurance plans for families, senior citizens, maternity and newborn coverage, and more. Our vast network of 21700+ network hospitals ensure your hospital stay is stress-free.
In India, medical insurance is often overlooked. People wonder why they should get health coverage. Several questions roam in their minds. Here are some questions and facts to help them understand why buying a policy is needed:
❌ “I’m young and healthy. I don’t need it.
✅ Health risks don’t come with warnings. Getting insured young also means lower premiums and no pre-existing conditions exclusions.
❌ “Employer health cover is enough.
✅Most corporate plans offer only ₹2–3 lakh coverage. What if you leave the job, or the treatment costs more?
❌ “It won’t cover pre-existing conditions.
✅Most policies do cover pre-existing conditions after a waiting period of 2–4 years. Some plans even offer reduced waiting periods.
❌“Public schemes are enough.
✅Most public schemes don’t cover outpatient diagnostics, outpatient care, or high-end private treatments
When 55-year-old Meena suffered a heart attack, her family rushed her to a private hospital in Delhi. The 5-day stay, angioplasty, and ICU care cost over ₹3 lakh.
Thanks to their Care Heart Mediclaim policy, the entire bill was covered cashlessly, with no stress on their savings. Thus, the family could focus on her recovery, not finances.
Ask yourself:
If the answer is no, the solution is simple - invest in health insurance today.
Health insurance provides financial security, access to quality care, and protects savings against skyrocketing medical bills, critical in a country with limited universal coverage.
While not legally mandatory, it is strongly recommended due to the high out-of-pocket medical expenses in India.
₹5–10 lakh is ideal for urban families; add a top-up for critical illness coverage.
Claims for most illnesses are subject to a 30-day waiting period, except for accidents.
Get the best financial security with Care Health Insurance!
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Disclaimer: Plan features, benefits, coverage, and underwriting of claims are subject to policy terms and conditions. Please refer to the brochure, sales prospectus, and policy documents carefully.
~Tax benefit is subject to changes in tax laws. Standard T&C Apply
**Number of Claims Settled as of Dec'24
^10% discount is applicable for a 3-year policy
^^Number of Cashless Healthcare Providers as of Feb 2025