Why do you need health insurance?

Tremendous developments in medical science have led to the inventions in new machineries and treatment techniques. These advancements have given a slight push to the medical expenses, due to which the surgery, hospitalization and medicine costs are rising every day. To meet uncertain medical expenses one needs to have sufficient bank balance, or land up with inferior quality medical treatment which may worsen the health conditions. However, it’s difficult to predict and save a certain amount for medical costs. To put a stop to all your medical expenses worries and ensure good health without compromising on quality, a health insurance plan is much needed. It acts as a saviour at the time of distress when you need financial assistance. All you got to do is pay a premium on annual basis and secure your complete family under one plan (You’ll get some discounts too for family floater). As an individual the early you opt for health insurance the higher chances of securing lower premium for a larger cover, lower the age lesser the risks.

The whole purpose of buying a health insurance is to create financial security. It helps in paying for the medical care that you acquire at hospitals or at home. Life is attached to a lot of uncertainties; anything can happen at any point of time. Hence, to be prepared against such contingencies it’s advisable to opt for health insurance plans. If you take a look at the medical treatment and surgery costs, you can clearly understand that there’s a steep rise due to advancement in medical technology and scientific inventions. This shows that if unfortunately you fall sick or require medical attention, you may have to pay a heavy price for treatment. To ensure financial balances and maintain stability, it’s important to buy a health insurance plan.

Benefits of buying a health insurance plan

Let’s take a look at the benefits offered by health insurance companies.

  1. Cashless treatments across network hospitals

A good health insurance company links itself with a lot of reputed hospitals to ensure cashless treatment at the time of emergency as well as planned medical assistance. In case the patient gets admitted to a network hospital, cashless treatment can be availed by producing the health card and submitting necessary documents.

  1. No room rent sub limits

It’s advisable to get a health insurance cover that puts no limits for the room rents. You can choose the room type depending on your comfort and availability for admission.

  1. Top up plans

Many health insurance companies offer top up plans which acts as an enhancement to your base plan. Such plans charge you a minimal premium and offer higher cover.

  1. TAX benefits

If you buy a health insurance policy, you’ll be liable to get the benefit of tax deductions of up to 25000 under section 80D. So you save tax and secure your health in one go.

  1. AYUSH Benefits

These days a lot of people have gained tremendous faith in non-allopathic treatments such as homeopathy, Siddha, Unani and Ayurveda. Many ailments have seen recovery signs with the help of such alternate treatments; hence many health insurance companies offer AYUSH benefits for other line of treatment.

  1. Lifelong renewability

Once you enrol in a health insurance plan you can renew it for lifetime and enjoy continued benefits without any hiccups.

  1. Cover for critical illness

With the rising rate of cancer cases in India, it is inevitable to opt for Critical illness cover for life threatening diseases and organ transplantation. Diseases like cancer, brain tumour, Kidney failure etc. may not let the patient to jump back to the routine life; hence Critical Illness cover offers lump sum insured in one go as a benefit plan. This sum insured can be used for paying off debts, continuing treatments or supplement loss of income.

  1. Maternity Benefit

Motherhood is a part and parcel of a woman’s life, probably one of the best feeling ever. These days both normal as well as C-section delivery may burn a hole into your pocket; hence it’s advisable to opt for a health insurance plan which covers maternity expenses. Both the mother as well as the new born gets covered under health insurance.

The above makes it quite clear as in why health insurance cover is the need of the hour and how it acts as a saviour during medical contingencies.