With the development of the country, diseases have also increased a lot as we know, but to give you some relief, the government also gives you some options, basically we are going to talk about health insurance in today’s time. Know about and many people are also taking advantage of it, so if your planning is also to take health insurance then this blog is for you.
Basically in this blog we will know about some things related to health insurance whether you should take health insurance or not, if you should take it then why should you take it etc.
What is health insurance
A health insurance policy is financial protection; Which helps keep you and your family safe from the risk of a medical emergency.
When you are unwell, your health policy takes care of all your treatment concerns; so that you can be worry free.
Health Insurance how many types
#1 accident cover
This protection cover is available in case of serious injury or disability in an accident.
In this a lump sum amount is available which is useful to you at the time of accident.
This insurance is available at very low cost; There is also an option to get monthly or lump sum amount.
#2 critical illness cover
It includes about 25 serious diseases like cancer, tumor, heart attack etc.
If you have taken a critical illness cover of Rs.25 lakh; So the company will pay the full 2500000 and you can spend it according to you.
#3 mediclaim policy
This is a holistic health policy; In which hospitalization expenses for more than 1 day hospitalization and the cost of medicines after that are also included.
This includes all the expenses of medicines, hospital and doctor.
Health Insurance Plan why should you take
If there is life then there is a world, health is a thousand blessings, or a healthy mind is made in a healthy body; All these things simply mean that our health is our greatest asset.
Only if we remain healthy will we be able to meet all future economic or social needs.
Our savings will be of use to us only if our health is good; Otherwise all our investment may be exhausted in a few days.
Therefore, before all investments, we must take a good health insurance plan.
Health Insurance how much should cover
It depends on a lot of reasons; Like how old are you; What is your family’s illness record?
What is the nature of your work? As if your job is not associated with any danger.
What is your income and what is your standard of living.
A normal person should take a health policy of ₹ 500000 on taking the policy personally.
Same if we talk about family plan; So for a family with two adults and two children, it is recommended to take a plan from ₹5 to ₹10 lakh.
Apart from this, you can take health insurance for about 50% of your annual income.
If you have parents etc. senior citizens in your family; So in such a situation a separate plan should be taken for them.
Adding these along with the family plan increases the premium for the entire family; Because the insurance risk of senior citizens is high.
Benefits of health insurance (Health Insurance)
1: Saves your savings in case of emergency
It helps you in case of any medical emergency with you or your family.
Nowadays hospital expenses have become quite expensive; In such a situation, health insurance does not allow your savings to end.
2: Cashless Treatment
Most of the companies get cashless treatment due to tie-up with the hospital; And there is no need to wander here and there for cash money.
3 : Availability of top up plan
You can increase the sum insured of your policy for less money by taking a top-up plan of health insurance offered by your company; Which can cover the expenses on critical illness etc., if required.
4: Lower premium at a young age
One of the benefits of getting health insurance at a young age is that the premiums are low; Along with this, more diseases are covered in it.
As one gets older; The risk of diseases increases; Along with this the premium also increases.
5: Benefit of Income Tax Rebate
Health Insurance On taking it, tax exemption of ₹ 25000 is available under section 80D of Income Tax; This exemption is available on opting for the old slab of income tax.
6 : Other facilities
Nowadays, many facilities are being offered in health insurance; such as maternity charges, day-care charges or viral diseases that do not require the patient to be admitted; Such diseases are also covered in it.
Correct Health Insurance Policy how to select
1» Family plan or individual plan
First of all, decide what is your requirement.
You can opt for a policy for a single member of the household or for the entire family.
2» Must Check Claim Settlement Ratio
While taking health insurance, you must check the claim settlement ratio of that company, which company has settled what percentage of the claim so far.
Generally, companies with a claim settlement ratio of more than 85% are considered good.
3» tie up with local hospital
Health Insurance Company Whether the company has a tie-up with a local hospital; This must be checked; So that you can get immediate help in case of emergency.
4» cashless treatment
While taking the policy also check with which company the facility of cashless treatment is available in the hospital near you; So that you can get help immediately.
5» Pre and post hospitalization expenses also included
Pre and post hospitalization means that; How many days before and for how many days after hospitalization is being covered in the policy.
A good policy is one which covers the expenses of 30 days prior to the hospitalization of the patient; and covers the cost of medicines and tests, etc., from 90 to 180 days after discharge from the hospital.
6» How much is the No Claim Bonus giving
Many health insurance companies offer a certain amount of bonus as a no claim bonus.
This offer can be in the form of full body checkup or any other free diagnostic.
The insurance company can also increase your insurance cover as a no claim bonus. Therefore, before taking insurance, make sure to also know about the no claim bonus.
7» Co-pay not an option
Make sure to check whether your health insurance policy covers the cost of private beds etc.
Some companies offer Co-Pay option; This means that out of the expenses of private wards etc., 10 or 20% will have to be borne by the insured.
These types of expenses can be difficult for you; or break your budget; Therefore, avoid taking a health insurance policy with such a condition.
8» day care facility
There are many diseases or surgeries etc. which do not require hospitalization.
In such a situation, health insurance companies refuse to come in payment.
So make sure that the facility of day care must be included in the policy.
Your health insurance premium should be affordable; Also check whether your policy covers cosmetic problems in its plan.
The health insurance policy should also have flexibility; Also, ambulance charges etc. should also be included in the policy.
Major companies selling health insurance policies
- LIC Health Insurance
- SBI Health Insurance
- United India Health Insurance
- National Health Insurance
- HDFC ERGO Health Insurance
- Care Health Insurance
- Bharat Aksa Health Insurance
- Bajaj Allianz Health Insurance
- Aditya Birla Health Insurance
- IFFCO Tokyo
Health Insurance Policy where to buy
At present, health policies are available at wholesale rates in the market; But it should be taken only after selecting a good policy.
Make sure to compare more than one policy available in the market to choose the best policy.
policybazaar.com You can compare plans of more than 25 companies available in the market to choose the best policy for yourself.
Apart from this, the policy provider mentioned above can also take online policy by logging in directly to the company’s website.
If you don’t find yourself comfortable online; So you can also buy it through an agent by visiting the nearest health insurance company’s office.