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Home Articles Don't Just Sit There! Get Health Insurance

Don't Just Sit There! Get Health Insurance

IndianMoney.com Research Team | Updated On Tuesday, August 20,2019, 06:28 PM

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Don't Just Sit There! Get Health Insurance

 

 

A health insurance policy is a must-have insurance plan; as it helps avail the best medical treatment at an affordable cost. But the shocking fact is; many Indians are still uninsured and do not understand the importance of buying a health insurance plan.

People often ignore health insurance until a grave medical condition knocks on the door. Avail health insurance at the earliest at affordable rates and keep your savings intact by spending less on medical care. Health insurance reduces out of pocket expenses.

Want to know more on Health Insurance? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.

Why You Should Buy Health Insurance?

  • To Counter the Rising Cost of Medical Treatment: This is the main reason why you must purchase a health insurance plan. An effective health insurance plan takes care of hospitalization expenses, medical bills, doctor’s fee, ambulance charges and so on. It will help lower your out-of-pocket expenses and focus on the medical treatment. The cost of medical treatment is rising each day and to avail quality treatment without paying high medical bills; you must avail a health insurance plan.
  • Quality of Treatment: The most basic reason to buy a health insurance policy is to avail quality medical treatment at the best network hospitals. The cost of medical treatment at reputed hospitals can burn a hole in your pocket; if you don’t have health insurance. In certain cases, people only avail treatment from hospitals where their finances permit them to do so. An effective health insurance plan helps avail quality treatment; without having to worry on the medical bills. Health insurance takes care of your medical bills and helps focus on the treatment and recovery; rather than the cost involved.
  • Tax Benefits: The health insurance policy helps enjoy tax benefits on the premiums paid; under Section 80D of the Income Tax Act, 1961. The maximum tax deduction is Rs 25,000 a year on premiums paid for self, spouse and children. It’s Rs 50,000 a year for senior citizens.

See Also: Exclusions of Health Insurance Policy

How Health Insurance Helps in Saving Your Finances?

The right kind of health insurance cover not only pays medical bills at the time of hospitalization; but also takes care of your pre and post-hospitalization expenses. The family floater health insurance cover helps secure your family and makes sure the medical bills are the last thing on your mind in a medical emergency. The cashless facility helps settle medical bills conveniently; without having to arrange finances. The health insurance saves your finances from getting derailed.

See Also: Health Insurance Benefits

Buy a Personal Health Insurance Plan?

You are prone to various ailments like heart diseases, kidney diseases, high B.P and diabetes due to a hectic lifestyle. Therefore, not just buying a health insurance plan; but also choosing the right one is of utmost importance. The right health insurance plan helps stay prepped for any medical emergencies.

Most of the salaried employees are offered health insurance policies from their employers. People often depend on their company health insurance for their medical needs. However, these policies are not adequate and are at the employer’s discretion.

It takes care of your emergency hospitalization, but cannot offer coverage for a specific ailment or critical illnesses. Therefore, it is highly recommended to purchase your own health insurance plan; instead of relying only on your company’s health insurance plan.

Most importantly these plans cover you; only as long as you work for the Company. You must have your own health insurance plan; to take care of your health between jobs.

See Also: Family Health Insurance Plan

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IndianMoney.com Research Team

The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.

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