Health insurance is a service that protects your cash in the event of an unexpected medical expense. Having the straightforward certainty that your medical bills are being paid for can be a tremendous relief during these trying times. It is equally crucial to understand what is covered by your health insurance policy as it is to just have an insurance coverage.
In general, a health insurance policy must have the following features:
- Cover the cost of hospitalisation
- Daycare facility fees
- Hospital fees
- Cumulative bonus for each renewal year without a claim
- Minimal waiting times for disorders that are already present
- Affordable premium prices
There are many different health insurance options on the market. Each of these plans caters to individuals with various medical needs by providing a variety of coverages and health insurance perks.
Individual health insurance
Plan for individual health insurance. If you’re single and seeking for an insurance that will solely cover you, this plan is best appropriate for you. The advantages of this strategy include:
- More than 6000 network hospitals in India have a cashless facility.
- SI (Sum Insured) ranges from 1.5 lakhs to 50 lakhs in Indian rupees.
- Options for 1, 2, and 3 year policy terms
- Choice of perpetual renewal
- Health CDC (Claim by Direct Click) benefit: quick claim resolution with the Insurance Wallet app
- Cost-effective long-term plans.
- Section 80D of the Income Tax Act provides for tax savings. Tax benefit is subject to change in prevalent tax laws.
Family Health Insurance Plan – Health Guard
Health insurance plans for a family called Health Guard are specifically designed to cover your entire family under a single policy. This policy can be purchased to cover you, your spouse, your parents, and your kids. The advantages of this strategy include:
- A single policy that will protect both you and your loved ones
- Freedom from having to pay multiple premiums for each member of the family
- SI (Sum Insured) ranges from 1.5 lakhs to 50 lakhs in Indian rupees.
- Options for 1, 2, and 3 year policy terms
- More than 6000 network hospitals in India have a cashless facility.
- Choice of perpetual renewal
- Section 80D of the Income Tax Act provides for tax savings.
- Maximum annual convalescence benefit of INR 7,500
Policy for Critical Illness
This insurance plan is specifically created to protect you in the event that you develop life-threatening conditions like cancer, stroke, kidney failure, etc. This policy’s entry age ranges from 6 to 59 years old. This benefits of health insurance under this plan is that it includes 10 serious diseases:
- Stroke
- Kidney Disease
- Cancer
- Limb Paralysis for Life
- Surgery to Replace an Artery
- Heart attack initially (Myocardial Infarction)
- Surgery for an aorta
- Primary Arterial Hypertension in the lungs
- Significant Organ Transplant
- Symptoms of Multiple Sclerosis that Never Go Away
- Amount paid as a lump sum to the insured
- Insurance to cover donor costs during a transplant procedure
- Coverage offered both in and outside of India
- Options for SI (Sum Insured) begin at INR 1 lakh.
- Section 80 D of the Income Tax Act’s tax savings provisions
- Affordable premium prices
In the modern world, when the cost of healthcare is rising daily, having health insurance is essential. When receiving medical care, a good health insurance policy can give you the financial security you need. Understanding what is included and excluded, as well as specifics on the list of diseases not covered by health insurance, is nevertheless crucial.
Last but not least, pick a plan that best meets your insurance needs. In order to properly comprehend the policy’s contents and exclusions, we also advise you to carefully study the policy wordings.
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Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
