Various people have various reasons to buy health insurance. However, clinical emergencies can strike anytime and anyone. And to add to the woe, the skyrocketing medical expenses can dig a dent in your pocket. Having a Medical insurance policy to your aid can reduce your economic worries if they cannot alleviate it altogether. Yet, several Indians still tend to remain lesser informed about the myriad of benefits that it can bring in. Its high time you learn what the Best health insurance plans in India can bestow you with.
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Almost all premier health insurance companies tie-up with several hospitals and nursing homes to offer cashless benefits. So if you get admitted to any of the enlisted hospitals, you would not need to pay the bill from the pocket. And if you secure admission to a non-enlisted hospital, then the insurance company would reimburse the expenses later on.
Pre and Post hospitalization Costs
If you have sustained the treatment expenses for an ailment for which you needed some treatment before getting admitted, then the insurance company would covet those expenses, as well. Even after you get the released hospital, several health insurance plans would cover the costs of your recovery period. However, the payout time would vary from one service provider to the other.
If, as a policyholder, you are admitted to a hospital for over 24 hours, then having a medical health insurance policy can help you get the expenses covered.
Day Care Procedure Costs
Owing to the advanced health care technology, the treatment of specific ailments requires less than 24 hours of hospitalization. In keeping with that, some Health insurance companies are offering to cover the expenses for daycare, or domiciliary hospitalization, as well.
Though most of the health care insurance does not offer immediate coverage for pre-existing diseases, you can avail of the service after 3-4 years of renewing the policy continuously. That is to say, if a policyholder suffers from Diabetes. After completing 3 or 4 years of renewing the insurance policy continually, the insurance company would start entertaining the cases of any hospitalization due to diabetes.
Under the provision of Section 80D of the Income Tax Act of India, a policyholder can enjoy an income tax benefit for the premium paid. The ceiling limit, however, remains Rs 15,000 for a regular citizen and Rs 20,000 for a senior citizen.
If you do not claim in the last year you paid a premium, then you are likely to enjoy a particular benefit. It can be either a reduction in the premium or an increase in the sum assured by a definite percentage. This is a perk to enjoy by for affordable health insurance.
Types of Health Insurance
There are different types of medical insurance policies. However, they can be broadly categorized into two types- the indemnity plan and fixed benefit plan. Indemnity plan refers to the coverage to hospitalization up to a pre-decided limit. As a policyholder, you can go for more than a claim in a year, provided that the total amount does not exceed your sum insured limit. Again, as a part of Health insurance, the Fixed Benefit Plan does not cover for hospitalization. It would pay a definite amount for specified diseases and health conditions. Different Online health insurance plans over fixed-benefit plans for diseases and conditions like heart ailments, cancer, and the like. Insuring companies can also offer coverage on diagnosing different diseases.
Hence, when buying an insurance policy, make sure to shop around a little, and choose a plan that suits your needs. For more information visit https://general.futuregenerali.in/health-insurance-plans