Nowadays, there are many health policies for you to choose from. You can compare and calculate the premium amount in order to pick the one policy that offers maximum coverage at affordable premiums.
Health policies are essential as they provide you with cashless treatment in case of an urgent medical condition. It can save you a significant amount of time and money during a medical emergency. Hence, it is favourable to get you and your family's health insured with health policies that cover your hospitalization expenses along with additional benefits.
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It has become crucial to own at least one health insurance policy, especially when the entire world is fighting the deadly Covid-19 virus. So, make sure you secure your finances and health with health policies that offer you several other benefits along with cashless hospitalization.
By purchasing health policies for yourself and your family, you safeguard your family against a financial crisis in case of unforeseen medical emergencies. Moreover, health policies not only cover your treatment costs but also offer regular health check-ups, which can help in the diagnosis of health issues in their initial stage. Thus, thorough research is recommended before buying health policies in India.
To help you understand health policies, here are a few important things that you must know:
You must carefully go through everything that a health insurance policy of your choice covers. The most common inclusions under health policies are the treatment or cure of chronic or critical illnesses, surgeries and more, including the overall hospitalization charges like ambulance and medicine bills. In addition, some health policies offer comprehensive coverage for all expenses incurred before, during and after the hospitalization of the insured.
Before you buy health insurance, it is necessary to learn about its exclusions as well. Therefore, you must carefully go through all the terms and conditions mentioned under health policies. The common exclusions of any health policy in India are as follows:
- Cosmetic operations and treatments
- Dental operations and treatments
- Pre-existing illnesses
- Genetic illnesses and diseases
- Injuries incurred due to war, terrorism, & suicide
- Overdose or side effects of consuming non-prescription drugs
- Tax Benefits
As stated in the Income Tax Act 1961, under section 80 (D), health policies have certain tax benefits to offer as well. Any policyholder who pays a regular premium amount against the sum insured is eligible for tax deductions ranging from Rs. 25,000 to Rs.50,000 depending upon the premium amount being paid. In case you are also paying the premiums for your parent's health policies, you are eligible for additional tax deductions.
- Renewability Criteria
Health policies with an age limit become obsolete once you have reached a certain age. That is, you can benefit from these policies until a particular age. In this situation, since you won't be able to get the same policy renewed, you will have to buy a new one. So, it would be best to buy health policies that have lifetime renewability and offer you full coverage and can be renewed at any age. Besides, you must carefully go through all the aspects mentioned under the policy's terms and conditions along with its renewability criteria.
- Free Health Check-Ups
With health policies, you can get your regular health check-up done for free at the nearest network hospital. These policies cover check-ups that can diagnose any critical or chronic illnesses in their initial stage and offer you a cover for the treatment. Thus, there are many benefits of having a health insurance plan apart from getting cashless quality treatment and medical facilities.
Health policies act as a safety net that caters to your urgent financial and medical needs. It is a wise move to purchase an insurance plan to protect your health and fitness from various health threats. But it is also very important to research and compare the health policies before investing in one.
Make a smart choice and go for reliable and trusted insurance companies like Care Health Insurance that offer comprehensive coverage at affordable premium rates along with plans that help you fight severe diseases effectively without fretting over the treatment costs!