Health is the most important aspect of human life, and decent financial coverage can rid you of many worries. However, getting health insurance is not all about monetary benefits, at least not in this country. Here, the perks of having a mediclaim can further enhance your lifestyle and boost good luck every day. Health insurance in India comes with many different pursuits. Starting as peace of mind and reassurance that someone is watching your back, a mediclaim can be a plus at all points.
If you have not yet purchased health insurance for yourself and your family, then let us convince you in a way that’s different from what regular advisors do. Leaving the financial aspect out, let’s discover what benefits a healthcare plan can provide. Unlock the secrets now!
What is Health Insurance?
It is a contract between the insurance company and you that on regular payments of the stated premiums, the former shall cover the medical expenses of the latter. From doctor’s visits and medications to hospitalisation costs and screenings and tests, a good healthcare plan will cover it all for you.
The Need for a Health Insurance Policy
Having comprehensive medical insurance for you and your family can offer you solace that, in any case of a major mishap or a minor inconvenience, your regular budget should not shuffle. Paying out-of-pocket can greatly impact your lifestyle and create a gap in the savings plan that can take years to fill. Therefore, a health insurance policy becomes a must-have. There are several reasons to have a healthcare plan:
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It protects you from any unforeseen medical costs, preventing you from any sort of debt or dent in the pocket.
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Having health insurance allows you to be free of all worries related to regular screenings.
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At times, some providers offer annual reimbursements for unclaimed coverage. Another way of earning unexpected funds out of the blue.
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It helps you manage your monthly and annual budget better without having to worry about the medical expenses that are often unpredictable.
Perks of Health Insurance Other than Monetary Security
Getting health insurance for you and your family is like spotting 11:11 on each step moving forward into a better life. It is a safety net that protects you from draining your savings during medical emergencies. However, along with financial protection, it also offers you various other benefits that are mentioned below:
Access to Quality Healthcare
Not all of us can afford high-quality medical treatment. Many people take advantage of government hospitals and more affordable healthcare options. While these options are often accessible, there may be instances where certain facilities or specialised equipment are not available. With the assistance of health insurance in India, you can get exactly the resources you need within the network of hospitals. You have the liberty to receive top-notch services without having to worry about the bill and the duration of the stay.
Preventive Care
Medical insurance will not only save you from hospitalisation costs but also provide you with free passes for annual check-ups and screenings. This is new in the industry, and only a few providers offer this benefit, but it is greatly lucrative. It offers comprehensive coverage and almost zero out-of-pocket expenses. You can stay updated on your health condition by getting time-to-time screenings and catching an illness at the earliest stage.
Peace of Mind
Having the best mediclaim policy for family or even individual plan boosts your overall confidence. You can focus on better things instead of worrying about the what-ifs and how much savings you have for a medical procedure that’s coming in the near future. A clear conscience is all that will further improve your mental health; all that you can expect from the non-financial perks of having an insurance plan for healthcare.
Tax Benefits
Isn’t it great that the money you are investing in health will further protect you from heavy taxes? Yes! As per Section 80D of the Income Tax Act, you can claim tax deductions for up to ₹25,000 and ₹50,000 in the case of senior citizens. That means you will save double. All you should do is keep the payment receipts handy and provide them while claiming your tax return. This one benefit of health insurance is the most effective for those who fall into the tax bracket and are looking for better ways to save tax.
Coverage for Alternative Treatments
Mostly, when people think about health insurance, all they figure out are reimbursements for hospitalisation and medical procedures. However, nowadays, insurers are offering coverage for alternative therapies and medications, too. If any one of the insured persons is dealing with a condition that requires alternative treatments, such as acupuncture, herbal medicine, or massage, health insurance in India delivers what’s needed.
How to Buy a Reliable Mediclaim Policy?
There are only a few factors that you should take care of when purchasing a medical insurance plan. The following sections say it all:
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First of all, talk about your budget with the insurance agent. Discuss the premium amount, payment schedules, and grace periods.
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Then, compare the coverage of different providers and plans. See which one has the most comprehensive coverage.
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Learn about their waiting periods and pre-existing conditions inclusivity.
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Don’t forget to get the list of the network hospitals, so you know where you can avail the benefits.
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Discuss the claim settlement process and whether the policy is cashless or reimburseable.
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Ask if there are any optional benefits, such as alternative therapy coverage, and whether the plan is tax-deductible.
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Lastly, read the documents carefully before you sign the insurance plan, and be thorough with the fine print.
Closing Lines
So far, you must have understood how having an assurance of financial freedom from medical expenses can improve your lifestyle. It forms a protective bubble around you and your family, allowing you to be confident about any unexpected health-related emergencies. Moreover, additional benefits of medical insurance, such as tax exemption, quality healthcare services, and preventive care, further create a bridge for you to choose it anyhow.
Niva Bupa has a wide variety of insurance plans, including the best mediclaim policy for family, individual health plans, group health plans, child health plans, and many others. They have great reviews and their customer service has also been recognised by legitimate sources.
You can take a look at their plans for better insight into what they offer.
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