Health Insurance
Health insurance is a financial contract between an individual and an insurance company that provides financial protection for medical expenses. The individual pays a premium to the insurance company, and in return, the insurance company offers financial protection against healthcare expenses.
Health insurance covers a wide range of medical expenses, including:
Medicines, Surgery, Doctor’s consultations, Room rent, Ambulance charges, Hospitalization, and Medical tests
Health insurance offers many benefits, including:
- Comprehensive coverage: A single plan can cover a wide range of medical and health-related emergencies.
- Hospitalization expenses: Covers room rent, doctor fees, medical procedures, surgery fees, and nursing care.
- Pre- and post-hospitalization expenses: Covers diagnostic tests and follow-up consultations.
- Daycare procedures: Covers hospitalizations that only require a day stay.
- Domiciliary treatments: Covers treatment in the patient’s home if they can’t be moved to a hospital.
- Alternative treatments: Covers treatments like Ayurveda, Yoga, Unani, Siddha, and Homeopathy.
- Annual health check-ups: Many health insurers offer free annual check-ups.
- Critical illness cover: Many health insurers offer this as an add-on benefit.
- Cashless treatment: Some health insurance plans offer cashless claim settlement.
- Ambulance charges: Reimburses the cost of hiring an ambulance in an emergency.
- Tax benefits: The Indian government offers tax benefits under Section 80D on health insurance premiums.
- Family coverage: Some health insurance policies cover your entire family
There are different types of health insurance policies, including:
- Individual insurance plans
- Family floater insurance plans
- Senior citizen insurance plans
- Critical illness insurance plans
- Personal accident insurance plans
- Maternity insurance plans
- Unit Linked Insurance plans