Health Insurance Coverage in India

Health insurance is an expanding segment in India. It might not have reached the length and breadth of the country completely but there is an increase in awareness about the importance of health insurance. Investing in a health plan for yourself and your family is essential because of the rise in medical care. Hospitalization due to a critical illness can disrupt your finances, thereby leading to high out of pocket expenses. It could become even more difficult if the breadwinner of the family is in hospital for a prolonged period. You can avoid this by paying a premium for the best health insurance plan in India.

Benefits of health insurance

Listed below are the various benefits that you could avail of after investing in a health plan.

1. Pre- and post-hospitalization expense coverage

With health insurance,you can ensure that you are covered for pre-hospitalization for 60 days and post-hospitalization for 90 days.

2. Cashless treatment

Reputed health insurershave collaboration with different hospitals and this ensures that you get a cashless treatment at the hospital.

3. Transportation cost

A health insurance policy will cover the ambulance cost incurred to transport the insured individual to the hospital.

4. Medical check-up

With a health insurance plan, you can enjoy free medical check-up provided by your insurer at their network hospitals.

5. No-Claim Bonus (NCB)

A No-Claim Bonus (NCB) is an integral part of health insurance. NCB is paid if you do not make a claim for any medical treatment in the previous year.

6. Tax benefits

Any premium paid towards a health insurance plan is tax deductible under Section 80D of the Income Tax Act, 1961.

7. Room rent

A health insurance policy will cover the room expenses based on the premium that you pay.

Types of health insurance

Before you make a decision to buy health insurance, it is important to understand the different options available in the market. Listed below are a few popular health plans.

1. Individual plan

This policy will cover the medical and hospitalization cost of the individual who holds the policy. Here, the premium is calculated according to your current age.

2. Family floater plan

This policy will include all the members of the family under one cover and the premium is paid for all the family members covered in the plan.

3. Critical illness plan

A critical illness plan is ideal for treatment in case of critical illnesses like cancer, kidney failure, heart attack, and liver damage, among others.

4. Senior citizen insurance plan

The plan is designed keeping the needs of senior citizens in mind. It offers coverage for health issues that affect individuals above the age of 60.

A health insurance plan is an important investment that you make for your health and wellbeing. It is essential to choose an insurance plan keeping your health, age, dependents, and various other factors in mind. Compare different options available in the market and choose from the best health insurance plans in India.