Benefits of Health Insurance Policy
Health insurance is an agreement in which an insurance company gives the policyholder a specific amount of compensation for any kind of medical expenses.
However, in today’s world, it has become very important for you as well as your family members to be covered by a reliable health insurance policy.
For such concerns, many companies only pay the hospitalization expenses but some of the best health insurance company in India also pay the bills for other expenses.
Therefore, you must be very careful while choosing the health insurance company to buy the plan from. Indian insurance companies are highly reliable and you could choose to buy a policy by comparing plans from different companies.
In this article, we will discuss some key benefits of the health insurance policy.
Benefits of A Health Insurance Policy:
- Coverage both Pre and Post Hospitalization:
Health insurance today offers its clients coverage beyond solely their hospitalization costs. Nowadays, there are pre and post-hospitalization expenses that are covered by traditional health insurance. Good health insurance plans also cover the cost of medicines, doctor consultations, ambulance charges, and more.
- Cashless Treatment
Every health insurer has tie-ups with a network of hospitals across the country. In case you are admitted to any of these ‘empanelled hospitals’ you need not pay anything for your treatment. Your insurer and hospital will take care of all your costs after you provide your policy number. Cashless claims are preferred in a health insurance policy due to the no hassle claim disbursement and documentation process.
- Tax Benefits
Insurance policies provide tax benefits. According to section 80D of the income tax act, the premium that is paid on a health insurance policy is eligible for deduction.
Therefore, the amount of deduction has been fixed up to 20,000 for the senior citizens and 15,000 for the individuals.
- Alternative Treatment
An alternative treatment is very common, and most of the insurance companies have started to cover such treatments in their policies like yoga, Ayurveda and homeopathy, etc.
- Domiciliary Treatment
Domiciliary treatment is based on home treatment. As a policyholder, you could avail the opportunity of treatment at your home with proper medical supervision. The health insurance policy now offers you the benefit of coverage for domiciliary treatment.
However, you should also know about the total number of days you can have the domiciliary treatment.
- Free- health checkup
Free- health checkups are also a great advantage that an insurance company offers. Hence, you can have a periodic health checkup after the 4-5 claim-free years.
- Financial security against the rising medical cost
It is very essential to get a reliable health insurance policy at the right time as medical expenses are already rising in India. The health insurance policy ensures financial security against medical costs and also offers wide coverage.
The Bottom Line
Health insurance policy has great benefits. Therefore, if you want to be secured from financial instability, then you must have a health insurance policy.