Benefits of Health Insurance

Good health is synonymous with happiness and the most precious wealth we must safeguard. We are always ready to take the best possible efforts to ensure the well-being of our loved ones. Despite the earnest efforts, sometimes unforeseen events such as illnesses happen and prove that life is indeed unpredictable. Hence, planning is pivotal in ensuring peace of mind.  Opting for a health insurance policy is the first step to getting quality medical treatment. Since medical costs are going up, a health cover is the best protection that your family needs. 

Health insurance is one of the rapidly developing segments in India. Many people have realised gradually the importance of health plans that offer the best financial support in light of rising healthcare costs. Also, there is availability of a variety of health policies to suit the specific medical needs of individuals and families. For instance, there are senior citizen health plans designed to meet the high medical expenses that one’s ageing parents may incur.

Before buying a health insurance policy, you must ensure whether it fulfils your requirements. Also, you can find the best health insurance plans at a click of a button that makes things easier. 

The best health policy is the one that covers you for several medical conditions. It offers adequate cover for the likely hospitalisation expenses you may incur. It takes care of wide-ranging medical expenses for you or your family members, including spouse, kids and parents. Moreover, afforable health plans offer several additional benefits that make the deal worthwhile for insurance buyers.

Here are some significant benefits you must look for when opting for a medical insurance policy.

Health Insurance Benefits

Here are some major benefits you must look for when opting for a medical insurance policy.

• Cashless Hospitalisation
• Pre and Post Hospitalisation Cover
• Annual Health Check-up
• Cover for Alternative Treatment
• Section 80D Tax Benefits
• Policy Renewal

Cashless Hospitalisation

It is a stressful experience to arrange money for paying hefty hospital bills. However, the best health insurance plans simplify things for you with an easy 2-hour cashless claim approval process.

The cashless treatment facility in health insurance policies has its pluses and is available at any of the network hospitals of the insurer. Under this feature, you will not have to make any payment from your pocket during any planned or emergency hospitalization. The insurer will directly settle your bills with the hospital, subject to policy terms and conditions. You, thus, save your time and efforts. The cashless facility is a vital help for anyone who is facing a medical emergency.Besides, one can expect to get treatment at an affordable cost through the cashless claim feature from a network hospital compared to getting expenses reimbursed after treatment at a non-network hospital.

Care Health Insurance (Formerly Religare Health Insurance) has tie-ups with leading hospitals across India. It will increase the chances of having access to quality healthcare closer to your location.

Pre and Post Hospitalisation Cover

Among the various benefits of health insurance, coverage for pre and post hospitalization is one feature that never goes unnoticed. It is an exclusive feature available in health plans, unlike Mediclaim policies. This implies that the insured person will get coverage for expenses beyond basic hospitalization. That may include Diagnostic Tests, OPD Expenses, Doctor Fees, Ambulance Costs, and Medications,

Each health insurance policy comes with unique features that prove helpful. They may include maternity cover, cover for pre-existing illnesses, subject to waiting period, organ donor cover, etc. It is advisable to opt a comprehensive policy that best suits your needs.

Also, the Pre and Post Hospitalisation feature is highly beneficial for families as medical treatment involves a whole range of patient-care procedures - right from diagnosing the problem to the actual treatment accompanied by post-hospitalization care.

Annual Health Check-up

Diagnosing an illness or a medical condition is a crucial step towards a healthy life. It involves various diagnostic procedures, including physical examination and lab tests. Irrespective of your age, it is recommended to go for regular health check-ups that will help detect any hidden medical problem and nip it in the bud. 

The annual health check-up is a benefit you must look for when opting for a medical insurance policy. Under the annual health check-up feature, the policyholders can get health check-ups done through the cashless facility at any of the empanelled healthcare or diagnostic centres.

Cover for Alternative Treatment

Alternative forms of medical treatment are gaining popularity in India. The system of alternative medicines, AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homoeopathy), is attracting new followers every day.

Just like the mainstream medical treatment methods, these alternative treatment methods have been effective in curing various diseases. Thus, coverage for alternative treatment has become one vital feature that many buyers eagerly look forward to in their health insurance policy.

When buying a health policy, make sure to read the policy terms thoroughly. It is essential to understand whether the expense cover is provided at all healthcare centers or only at accredited centers.

Section 80D Tax Benefits

Tax benefits are a significant aspect of health insurance plans that help you increase your savings. If you have opted for a policy for yourself or your parents, you can claim tax deduction under Section 80D of the Income Tax Act, 1961, on the amount of premium you pay. Before doing so, make sure you have checked the maximum deduction limit you are eligible for under Section 80D.

Policy Renewal

The policy renewal feature enables you to get the benefits of health cover without interruption by renewing the insurance plan at the completion of the policy year. Choose a plan with a lifetime renewability option. Since there is a greater possibility of getting illnesses as you get old, this feature proves highly beneficial.

Furthermore, in case you have not made any claim in the policy year, you can also look forward to a no-claim bonus in terms of premium discounts and increased sum insured. Also, the cover offered by your existing policy might become inadequate, given the medical expenses in the future. Thus, opting for a higher sum insured when renewing a policy is recommended.

You must read the policy documents and understand the terms of renewal to avoid any confusion.

Healthcare are steadily increasing and to avoid financial difficulties in the future, it is wise to invest in a health insurance plan. Choose to protect the health of your loved ones with a comprehensive family health cover from Care Health Insurance (Formerly Religare Health Insurance) that are offers all the advantages as mentioned above.