Health-related problems can pop-up anytime. These medical emergencies don’t come with prior notifications. Buying insurance is one of the best ways that finance the medical needs of the people. Health insurance provides people with much needed financial backup at medical emergencies.

Health risks are the uncertainties of our lives, we have to financially prepared against it. When it comes to India, there is still the lowest health insurance penetration in the world. Moreover, in this blog, we are going to tell you why insurance is a sensible decision. Let’s take a look at the most obvious one.

Health Insurance Plans

Before jumping into the main topic. We are going to tell you what kind of health insurance plans are available in the market.

  • Individual plan:

This plan is designed by the insurance company to cover the basic medical cost of one person.

  • Family plan:

This plan is designed by the insurance company that can include your family members under one umbrella

  • Senior citizen plan:

This plan is designed particularly for anyone aged above 60 years and offers protection from all health issues.

  • Critical illness insurance plan:

This plan covers specific critical illnesses such as heart attack, kidney, liver etc.

  • Maternity plan:

This plan is designed for pregnant women and offer coverage pre and post-delivery expenditure.

Here Are The Five Major Reasons For Getting Health Insurance:

Changing Lifestyle:

There are many reasons to have a health insurance policy in place. The tectonic shift in our lifestyle has made us more prone to a wide range of health diseases such as Diabetes or Cancer, hectic work schedules, wrong eating habits, quality of food, and rising levels of pollution have increased the risk of developing problems.

Low premiums:

Traditional processes involve the presence of intermediaries. When they come into the picture, the cost and premium get automatically increased. Online processes give rise to low premiums because the total cost and delivery reduced to a great extent. Many insurance companies can work flexibly and offer a greater discount than before.

Income tax benefits:

Payments made towards health insurance premiums are also eligible for tax deduction under section 80D of the income tax. Individuals up to 60 years of age can claim a deduction of up to Rs. 25,000 for health insurance premiums paid for themselves or for their spouse or children. One also claims another Rs. 50,000 as a deduction if you buy health insurance for your parents aged 60 years and above.

Effective coverage instantly:

Online health insurance policies give you the chance to get instant coverage. Once you pay the insurance amount, you can also reap the benefits of the policy. Therefore the traditional procedure takes time and makes the insurance procedure lengthy and hectic.

Cashless claim benefits:

Many insurance providers offer cashless claim facilities. In such an agreement, you do not have to make a payment from your pocket. The hospitalization expenses are settled between your insurer and the hospital. To avail these benefits, it is imperative to get admitted at any of the insurer’s network hospitals. However, you may fill out the pre-authorization form and display your wealth insurance card to enjoy the cashless facility.

So with these many advantages, one should definitely consider buying a health insurance plan.