There have been many surveys conducted that showed that India has around a 10% medical trend rate which implies that the expenditure per capita on health care is estimated to rise with this stipulated rate only. Along with this, various statistics showed that the rising need for health care insurance policies is expected to meet up all the corresponding expenditures. And as we understood the statistical data on health care insurance, it's important to brush up on our knowledge on what exactly is health insurance.
Health insurance is basically a type of insurance that covers all the medical expenses of the users caused by any unforeseen illness, provided by someone from the various listed companies. This covers hospitalization costs, doctor consultation fees, and the cost of medicines.
In this article, we have discussed 9 Genuine reasons to Buy Health Insurance. So, let's get started!
We have discussed the 9 genuine reasons why you should buy health insurance, which are:
The health care insurance benefits you by covering the supplementary costs that arise because of the hospitalization, like loss of income. The insurance company pays the lump sum amount when the user is admitted for a prolonged period. Many policies even cover the associated costs like the compassionate visits by the family.
With the surprising popularity of alternative treatments, many insurance companies started covering the costs of alternative treatments such as homeopathy, Ayurveda, and yoga. However, it is covered only when it takes place in a government hospital or an institution that is recognized by the Quality Council of India and the National Accreditation Board of Health.
Lifestyle diseases usually happen among people who are aged under 45 years. It includes health diseases, respiratory diseases, obesity. These are caused due to sedentary lifestyle, gadget addiction, stress, pollution, unhealthy eating habits and many more. The treatment of lifestyle diseases could be pretty expensive for anyone. And that's where health insurance steps in. It covers the regular medical tests that can help you deal with these illnesses.
As there have been large uses of advanced technology, the cost of healthcare treatments has also become very expensive. It includes costs of operation theatre, room rent, doctor's consultation, diagnostic tests, ambulance and many others. That's why health insurance covers all these expenses which becomes a big relief for the user.
With the premium paid health insurance plans, section 80D of the Income Tax Act, 1961, allows you to avail of tax benefits. People up to 60 years of age can claim the deduction of around Rs. 25,000.
Most healthcare insurances cover the expenses of the family alongside. This helps you in avoiding separate health insurance plans for every member of the family. And you can protect your family from any kind of severe and urgent health issues.
In any kind of tragic incident, you need an urgent diagnosis and treatment. And you can never predict such a medical incident, that's why it comes out as a burden on your monthly expenses. That's why health care or medical insurance helps you avail of treatment at renowned hospitals without putting any burden on your income.
For complex health conditions which occur before the age of 30, insurance companies do not require any kind of comprehensive details of medical history.
It's always recommended to avail of health insurance policies at a young age. This way you don't have to bear the burden of treatment of any complex ailments.
There are a few steps that you need to follow to proceed with your Healthcare insurance payment. These are:
Proceed further: Now, click on 'Proceed to Payment' to move forward with your Healthcare insurance payment.
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