Health insurance provides coverage for medical expenses in case the insured person suffers an illness. The investor needs to pay premiums at regular intervals to retain the specified coverage. Health insurance covers hospitalization expenses, doctors’ fees, ambulance, medicines, surgery and free medical check-ups.
Health Insurance Types
Health insurance is categorized into the followings:
Mediclaim Insurance: This plan usually covers a family’s hospitalization expenses up to a limit.
Critical Illness Insurance: As the name suggests, these plans provide coverage for critical illnesses, necessitating lifestyle changes and/or prolonged treatment. No hospital bills are required in this case and the plan becomes a source of income if the illness leaves the insured unfit for any physical work.
Health Insurance Benefits
Easy Cash-Free Claims: Health insurance policies are focused on the policyholder’s wellbeing and help them with quick claim procedure and paying upfront. The insurers pay hospitals directly on their customers’ behalf.
Coverage for Critical Illnesses: Health insurance covers critical illnesses including cancer, kidney failure and others that necessitate extended care.
Meet High Medical Costs: Not everyone can afford to pay skyrocketing medical expenses. Health insurance plans come as a big relief for these low-to-middle income groups.
Additional Protection: Health insurance plans include added features such as, maternity coverage, newborn care, regular checkups etc.
Tax Saving: Health insurance plans also help investors with tax saving.
For more details, get in touch with our team at Arthavidhi.
