When we have uninvited guests at home, everything goes for a toss, we cannot say no, but now comes the stress on money spent & mental peace.
Medical emergency is like above, always comes uninvited, and by far becomes the toughest challenge, an individual/ family will face. Such emergencies can sometimes lead to people falling in debt trap.
Why wait for a surprise? However, if you have a health cover, you need not worry about your savings going away and only focus on getting the best medical treatment.
Read the below mentioned points to understand why health cover is a must for everyone.
1) Medical cost
Medical expenses are very high in India. Be it the cost of
tests, doctor’s fees or hospitalization charges, one has to shell out big
amount every time these expenses come up. Medical emergency can arrive anytime and
to anyone, and one cannot think that if they are healthy they do not need a
health cover. A single policy can cover medical expenses of your entire family
if you take the `family floater policy’.
2) Lifestyle risk
Many people nowadays live a sedentary lifestyle with little
at no exercise. This puts us at risk of various lifestyle related diseases such
as blood pressure, diabetes, anxiety, stress etc. We are also exposed to
various pollutants everyday in different forms. This further increases the risk
of contracting diseases. A health cover can help us financially cope with such
diseases.
3) Cashless facility
Cashless facility is one of the biggest advantages of taking
a health cover. In cashless facility, all the medical expenses are paid by the
insurance company and you do not have pay from your pocket. This is very
helpful if a patient requires immediate medical attention. You can thus focus
on getting the treatment done rather than worrying about the bills.
4) Various hospitals
covered
Health insurance companies have an extensive list of
hospitals where the insured can avail treatment. This ensures that one can avail quality
medical treatment from anywhere in India at affordable cost. So if the facility
for your treatment is only available in bigger cities, you can still use your
cover to avail medical facilities in those hospitals (provided it is in the given
list of hospitals by your insurer).
5) Covers various
illness
Health insurance covers many diseases, ailments, surgeries
and other medical procedure as may be required. The illness covered can range
from small fractures to heart diseases, dialysis, etc. One can also claim
expenses for pre-existing diseases once the waiting period is over.
6) Tax benefit
Premium paid for health insurance for you and your family is
eligible for deductions under Section 80D of the Income Tax Act. Deductions up
to Rs.25,000 can be availed for payment of medical insurance premium for self,
spouse and dependent child. Further deduction of Rs.25,000 is available for
medical insurance premium of parents.
7) No claim bonus
Insurance companies provides bonus to the insured for every claim-free year. The benefit can be either in the form of Discount on premium amount charged for a policy or cumulative benefits in the form of higher sum insured amount.
