7 Benefits of Buying Health Insurance in India
Without a doubt, health insurance has become need of the hour. People who aren’t secured with a proper health insurance plan might have to spend the money from their pockets for the treatment, which can put a strain on their finances. Keeping in mind the situations around us, such as increased pollution, population, and various lifestyle diseases, you can say that your life is at risk all the time. Also, we observe so many accidents taking place every day. To ensure that the expenses for these accidents are covered, you can purchase personal accident insurance and stay secured.
Moving on to health insurance, here are a few advantages to look at while buying:
- Expenses for Hospitalization
The most important aspect to look for while buying a health insurance policy is the coverage that your insurer offers for hospitalization. Under hospitalization expenses, you may receive cover for illness-related hospitalization, accidental hospitalization, etc. Make sure to check in your policy wording as to what is covered or excluded under these expenses.
- Cost for Day-Care Procedures
To treat a few illnesses, it is not required to be admitted in a hospital, it can be treated by following a few procedures. However, the treatment can cost you a lot and result in a long bill. How does a health insurance policy help in such a case?
Most of the health insurance providers offer you coverage for day-care expenses. Under this section, you receive coverage for the medical expenses incurred in a hospital when you’re there for less than 24 hours.
- Pre and Post Hospitalization Expenses
To incur medical expenses, you don’t necessarily have to be hospitalized. The costs required before hospitalization, i.e. for diagnostic tests and after the hospitalization, i.e. follow-up costs can be heavy on your pocket. If you’re insured, your health insurance policy will help cover the pre and post hospitalization charges as well.
- Cashless Hospitalization
In case you get hospitalized in any of your insurer’s network hospitals, you receive the benefit of cashless health insurance. This means that the hospital bills will be settled with your insurance provider directly and you don’t have to spend money from your pocket.
- Ambulance Charges
The expenses for an ambulance in metropolitan cities can be quite high. And keeping in mind that transportation is required in case of any medical emergency, you must invest in a good health plan that also covers ambulance charges.
- Annual Health Check-Ups
Medical conditions don’t arise with a warning. Therefore, it becomes essential to have frequent check-ups and keep an eye on your health. However, you need not worry about the expenses for annual medical check-ups, as your health insurance policy will cover it for you after a certain waiting period. No matter which hospital you select for the check-up, your insurer will offer you with reimbursement for the same.
- The benefit of Cumulative Bonus
Many people don’t purchase a health insurance policy because they’re confident of their health. You must also wonder what will happen to the premium amount that you pay for health insurance, and do not raise a single claim during the policy period. The Cumulative Bonus increases your sum insured by a certain percentage for every claim-free year up to a fixed limit during health insurance renewal.
Buying health insurance in India is not mandatory and so people avoid it, without realizing its benefits. To enjoy all the advantages from a health plan, look for the points mentioned above before selecting one.