A medical policy provides financial protection amid a medical emergency caused by sickness, accidents, or hospitalization. It helps you preserve your savings while meeting your healthcare needs with suitable benefits. The best health insurance in India promises customized medical benefits with access to quality health care facilities— as offered by one of the leading health insurers, Care Health Insurance.
Indeed, medical insurance is highly beneficial. Let’s look at the 6 benefits of purchasing one.
- Shares the Cost of Hospitalization
One of the essential features of a medical policy for self is that it covers hospitalization costs, whether due to an accident or illness.
- Hospitalization for illness – Medical insurance covers expenses incurred while receiving treatment in a hospital for any illness. The covered expenses include any treatment-related costs, from emergency to OPD.
- Alternative treatment- Not everyone likes allopathic treatment these days, and certain illnesses can be effectively treated with alternative medical treatment methods, including Ayurveda, Siddha, Unani, and homoeopathic. A few medical plans also cover the cost of alternative treatments, like the one offered by Care Health Insurance.
- Covers Pre and Post-Hospitalisation Expenses
When an individual seeks treatment at a hospital, they would need a series of doctor visits and diagnostic tests that must be completed both before and after the treatment. Specific health insurance plans reimburse these costs.
Individual medical policy, for example, will pay for expenses incurred in the hospital for treatment and expenses incurred prior to hospitalization for a period of time. Once you are discharged from the hospital, they’ll also pay the costs of follow-up visits, medications, and diagnostic testing.
- Helps You Keep Track of Your Health
Medical policy for yourself is your primary key to lowering your financial burden during a medical emergency. Most medical policy plans provide yearly preventive health check-ups to help you keep track of your health status.
This enables people to understand their health vitals and take remedial action by making lifestyle improvements. Also, this could help insurance firms reduce their claims costs in the long run.
- Boosts Security with No Claim Bonus
While medical insurance provides financial support while you are hospitalized, a policy also rewards you for maintaining good health. When you do not file any claim in a given policy year, you are rewarded with an increased sum insured without paying any additional premium. A “No Claim Bonus” can add up to as much as 100% to the policy’s original total sum insured.
This feature allows people to double their coverage at no additional expense, essential for those in their later years when certain illnesses are more likely to occur. Cancer, diabetes, hypertension, and heart-related complications are among them.
- Offers Income Tax Benefits
There is an immediate financial benefit of income tax rebates on premiums paid by an individual for a medical policy for self. An individual can avail of as much as INR 75,000 income tax deductions while purchasing specific medical covers. These tax benefits help you save more on your health and money while securing your future.
- Provides Flexibility under Coverage
Medical Insurance is now available for people of all ages and from all phases of life. If you are turning old, you can combine your basic health insurance with a top-up medical policy. With a top-up cover, you can easily customize the medical coverage with suitable sum insured options, additional features of reduction in the waiting period, personal accident, unlimited automatic recharge, and more.
Final Thoughts
There are a plethora of ways in which a health cover benefits you individually. Yet, ensure that you choose the right one with affordable premium and optimum benefits. Take a look at the wide range of health insurance plans offered by Care Health Insurance. With the highest claim settlement ratio, Care Health Insurance is providing customizable medical policies to individuals and families across India.
