The cost of medicines and hospital stays rises each year. A sudden health crisis can hit your finances hard. Health insurance can shield you from these high costs.
Let’s explore what health insurance is and its benefits.
What Is Health Insurance?
Medical insurance helps cover health-related costs. It’s a contract between you and the insurer. This insurance pays for sickness, injury, or accidents. You pay regular premiums. In return, it covers hospital stays, surgeries, medications, and preventive care. This reduces treatment costs and ensures necessary care. Before buying, understand your plan. Check eligibility, coverage, and exclusions. This ensures you benefit, especially in emergencies.
Why Buy Health Insurance?
Health insurance is crucial for financial safety and good healthcare. It covers high treatment costs, hospital stays, and medicines. This allows you to focus on recovery without financial stress.
- Financial protection: Covers expensive treatments.
- Access to quality care: Ensures timely medical attention.
- Cashless treatment: No upfront payments are
- Tax benefits: Deductions on premiums lower taxable income.
Types Of Health Insurance
There are many health insurance types that meet different needs.
- Individual Health Insurance: Means one person is responsible for paying for all of their own health care costs. It is sector specific and enables adaptation.
- Family Health Insurance: It combines the whole family into one health insurance policy. It is less costly and easier than undertaking different individual plans.
- Senior Citizens Health Insurance: Meant for the elderly, those beyond the age of 60 years. Also, it applies to the diagnosis of pre-existing medical conditions or critical illnesses.
- Maternity Health Insurance: Includes child birth and complications associated with it. It is classified into prenatal, delivery and postnatal costs.
- Critical Illness Health Insurance: Includes cases such as cancer, heart attack, etc. , which are very costly to treat. It pays for treatment in one sum.
- Group Health Insurance: Covers groups like employees or society members. Often provided by employers, it includes a wide range of medical services.
- Top-Up Health Insurance: Offers extra coverage beyond an existing policy. It kicks in when the current policy limit is reached.
How Does Health Insurance Work?
You pay a premium based on various factors. Once active, it covers medical expenses. You can choose cashless treatment or reimbursement. For cashless treatment, use network hospitals. The insurer pays directly. For reimbursement, you pay first and then claim back.
Benefits Of Health Insurance
Covers hospital and related expenses.
- Includes home treatments and daycare procedures.
- Offers tax benefits.
- Allows add-ons for extra coverage.
- Restores coverage when used up.
- Some policies compensate for income loss due to disability.
- Top health insurance plans
How To Choose A Health Insurance Plan?
Buying health insurance online is now easy. You can compare policies, coverages, and premiums without hassle.
- Visit the insurer’s website.
- Compare coverages, premiums, and terms.
- For family plans, check age criteria and add members.
Look for senior citizen plans specifically designed for their needs.
You can easily secure affordable coverage online. Just a few clicks safeguard your health. The ABCD App offers peace of mind with instant, affordable premiums and easy payments.
