What is Health Insurance
‘Health is wealth’ is an age-old proverb. ‘Health insurance saves your wealth’ suits the present scenario. Health insurance extends coverage to the medical expenses incurred due to various illnesses. Hence, buy a health insurance policy that protects your family as well as your finances. The insurance provider bears the treatment costs based on the plan opted and existing health declaration.
Types of Health Insurance
- Individual Health Insurance
- Family Health Insurance
- Senior Citizen Health Insurance
- Top Up Health Insurance
- Group Health Insurance
- Personal Accident Insurance
- Maternity Health Insurance
- Mediclaim
- Critical Illness Plan
- Hospital Daily Cash
- Disease-Specific (Cancer, Heart, etc)
Why You Need A Health Insurance?
Paying out from the pockets during a critical illness can leave you in financial distress. Health insurance saves you from staring at financial burdens and lets you strictly focus on recuperating well. But, before you choose a health insurance policy, it is strictly advised to choose the best policy that meets your requirements. The following reasons clarify why you need to buy a health insurance policy.
Busy Lifestyle
Rising Costs of Healthcare
You might be rich or aspiring to be rich. But the unfortunate medical emergency can eat away all your savings and can dent your future plans. So, having the right health insurance plans that suit your needs can secure your financial future.
Additional Benefits
Depending on the policies, the medical insurance may cover several other benefits. Few policies may include ambulance coverage, day-care surgeries and even medical checkups. An insurance expert’s guidance is always beneficial before buying a health insurance policy.
Income Tax Benefits
Buying a health insurance policy helps you get an income tax deduction on 80D of the Indian Income Tax Act. Individuals can claim a deduction of up to Rs 25,000/- for paying premiums for themselves or for their family members – spouse and children. And one can also claim an additional deduction up to Rs 50,000/- for buying health insurance for their aged parents above 65 years.
Cashless Treatment
It helps you get the treatment without shelling out a single penny right from admission till discharge. So, paying an affordable premium certainly saves you from paying a mammoth amount from your pocket for room rent, ICU charges, doctor fees, consumer bills, etc. The insurance service provider directly pays the medical expenses incurred for the treatment to the network hospital.
Covers Pre and Post-Hospitalization Expenses
Pre and post hospitalization expenses that include diagnostics, small procedures and medicines can pile up your treatment expenses. The health insurance policies not only cover the hospitalization expenses, but they can also cover the pre and post-hospitalization expenses. So, it is a smart decision always to buy a health insurance policy that takes care of your OPD and diagnostic expenses as well.
What We Do!
We at Finoplus handhold the people from buying the right insurance policy till the claim settlement process. Our expert insurance advisors analyze your needs and suggest you an affordable policy that takes care of all your family’s medical expenses. Insurance or investments, Finoplus always strives to provide peace to its clients with the right advice.