Life is unpredictable and the same goes for medical expenses. Since they can get out of control in times of emergency, buying a health insurance plan is a wise decision. In India, the importance of health insurance plans can not be overstated, given the rising incidents of lifestyle related diseases and the cost of medical treatments for the same. Still, less than 40% Indians have a health insurance policy.
That’s why Aapka Policywala – the leading online insurance company in India – decided to write a comprehensive guide explaining the benefits of buying the health insurance plans in India. If you are in the boat of uncertainty as well, this blog is for you. Read on!
Benefits of health insurance policy in India
Read on to discover why you should consider getting a health insurance policy in 2024:
Financial Protection Against Medical Expenses
Buying a health insurance plan in India provides coverage related to hospitalization and medical supplies, general surgery, medical tests, and more. Health insurance coverage helps us manage financial burdens during pre-planned treatments as well as emergencies. This means you won’t have to dip into your savings to meet medical needs.
Cashless Treatment Facilities
A lot of health insurance plans offer the benefit of cashless treatment at their partner hospitals. That means the individual policyholder can get the medical treatment without paying any cash in advance. The insurance companies connect with the hospitals to directly settle the bills, making the treatment process easy and stress-free.
Coverage for Pre and Post-Hospitalization Expenses
Modern health Insurance plans not only cover hospitalization of the policyholder but also provide coverage to post-hospitalization expenses for a specific period of time. This may include repeat doctor consultation, diagnostic tests, medical supplies and other wide range of expenses that may be pulled from your wallet before and after the hospitalization.
Critical Illness Coverage
We all know how expensive the treatment for critical illnesses like cancer, heart attack, organ transplant are. Such conditions require regular diagnostic tests throughout the treatment. Surprisingly, some health insurance plans provide insurance for these critical illnesses as well. Under the health insurance plan, the policyholder receives the lump sum amount that can be used throughout the treatment covering everything ranging from rehabilitation costs, treatment expenses, and other financial needs. This is one of the biggest benefits of getting a health insurance plan.
Maternity Benefits
A lot of health insurance plans in India also offer maternity benefits, including coverage for pre and post-natal care, delivery expenses, and everything related to newborn baby care. This feature of health insurance plans is beneficial for expecting mothers as it can help them manage the financial condition during the childbirth and child care. This is the one of the prime reasons why newly married couples should go for a health insurance plan after tying the knot.
Want to take a break from the health insurance guide? Explore popular insurance policies from Aapka Policywala:
Individual Travel Insurance Plan
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Coverage for Daycare Procedures
With medical treatments getting advanced, many treatments and procedures no longer required weeks of hospitalization. Now, the medical treatments get completed in a day or two, allowing policyholders to get access to timely and cost-effective medical care. Here are the day-care medical procedures under healthcare insurance plans:
- Minor surgeries
- Diagnostic testing
- Dental procedures
- Chemotherapy
- Endoscopic procedures
Online Healthcare Insurance companies like Aapka Policywala bring healthcare plans from the top insurance companies. So, make sure you buy the right one!
Wellness Benefits
For those who don’t know, health insurance plans also offer wellness perks such as coverage for preventive healthcare checkups, vaccinations and health screenings. These advantages that come with health insurance encourages the policyholders to focus on adopting healthy lifestyles, and eventually reducing the risk of developing chronic illnesses such as Arthritis, Asthma, Cystic Fibrosis, etc.
Additionally, by investing in preventive measures, insurance companies also contribute for the betterment of the healthcare system, reducing the burdens of preventable diseases.
Tax Benefits
Millions of individuals buy health care insurance to secure their financial conditions during emergencies. Surprisingly, premiums paid for the health insurance plans also helps the individuals to claim tax deductions under the Section 80D of the Income Tax Act, 1961. Yes, policyholders are eligible to claim tax deductions for themselves, children, and partners, up to a certain limit and reducing their taxable income eventually. A major benefit of health insurance policy in 2024!
No-Claim Bonus
We can’t complete our guide without talking about the no-claim bonus feature that most health insurance plans offer to the policyholder. For those who don’t know, no-claim bonus means that the policyholder will be rewarded with an increase in the sum insured after the policy matures or a reduction in the premiums for every claim-free year. This type of bonus motivates individuals to maintain a healthy lifestyle and reduce the chances of unnecessary claims, therefore maximizing their benefits over the time.
Peace of Mind and Security
Perhaps the most important benefit of buying health care insurance in India is the peace of mind and security that individuals seek in terms of financial condition. Knowing that one is financially protected against the uncertain medical charges allows individuals and their family members to focus on recovery without worrying about the financial implications. This sense of security is invaluable and contributes to overall well-being and quality of life.
Benefits of Buy Health Insurance in India: Endnotes
There you go! We have explained all the major benefits of buying health insurance plans in India. Remember, the decision is ultimately yours along with many advantages it brings.
For those searching a health insurance plan at an affordable rate to avail all the above mentioned benefits, consider exploring the Aapka Policywala’s health insurance plans. We offer a vast range of health policies to meet all your insurance goals and also bring an opportunity to customize your health insurance plan. No wonder, we are the best online health insurance policy provider in India. Still have questions to ask, send us at info@aapkapolicywala.com and get a quick reply from experts.