Why You Need Individual Health Insurance
If insurance policy is all about planning for uncertainty, then a health insurance plan must be on top of your checklist.
You make plans for your future. You can save up to buy a brand new car, a new house, or go on a vacation. Then unexpectedly you fall sick or have an injury and are in need ofhospitalisation. The medical expenses burn a hole in your pocket as well as your personal savings is diminished. It is common knowledge that medical expenses are constantly on the rise. In times like this it is important that we have an insurance plan to safeguard our savings and our plans.
Injury and illness is unpredictable, one minute you may be the picture of health and the next you may need medication or hospitalisation. The rise in overhead costs - health and otherwise is definite and constant. With the constant rise of inflation, medical expenses are usually on the rise. Having a health plan that will rise with the times and keep you at par for medical expenditure is a smart move.
When an individual gets a Medical insurance plan he is assured that his health will be taken care of. Almost all hospitals are covered by health insurance companies so the person can be sure to get the very best treatment for his illness. Health insurance works in two ways - a person has to pay the bills himself and the get refunded by the insurance company on presenting the bills as well as a person can take advantage of cashless facility. Most hospitals are covered with cashless facility meaning the person has a card to show his insurance details and he can be treated at the hospital with paying anything from his pocket and the insurance company will take care of his expenses.
A Medical insurance plan also works as an investment as an individual can also get tax deduction of up to Rs. 15000 according to the Income Tax Act of 1961 under section 80D.
The cost of an individual health insurance policy depends upon various factors like, the age of the person covered by policy, individual or family floater, medical history of the individual, number members covered, average age of the family protected as well as past claims created by the person covered by insurance.
While taking an individual health insurance, it would be better if you are aware of all the inclusions and exclusions of the insurance plan. A handy list of network hospitals and good knowledge of the claim settlement process will help you take the optimum benefit from your Medical insurance policy in testing times.
You make plans for your future. You can save up to buy a brand new car, a new house, or go on a vacation. Then unexpectedly you fall sick or have an injury and are in need ofhospitalisation. The medical expenses burn a hole in your pocket as well as your personal savings is diminished. It is common knowledge that medical expenses are constantly on the rise. In times like this it is important that we have an insurance plan to safeguard our savings and our plans.
Injury and illness is unpredictable, one minute you may be the picture of health and the next you may need medication or hospitalisation. The rise in overhead costs - health and otherwise is definite and constant. With the constant rise of inflation, medical expenses are usually on the rise. Having a health plan that will rise with the times and keep you at par for medical expenditure is a smart move.
When an individual gets a Medical insurance plan he is assured that his health will be taken care of. Almost all hospitals are covered by health insurance companies so the person can be sure to get the very best treatment for his illness. Health insurance works in two ways - a person has to pay the bills himself and the get refunded by the insurance company on presenting the bills as well as a person can take advantage of cashless facility. Most hospitals are covered with cashless facility meaning the person has a card to show his insurance details and he can be treated at the hospital with paying anything from his pocket and the insurance company will take care of his expenses.
A Medical insurance plan also works as an investment as an individual can also get tax deduction of up to Rs. 15000 according to the Income Tax Act of 1961 under section 80D.
The cost of an individual health insurance policy depends upon various factors like, the age of the person covered by policy, individual or family floater, medical history of the individual, number members covered, average age of the family protected as well as past claims created by the person covered by insurance.
While taking an individual health insurance, it would be better if you are aware of all the inclusions and exclusions of the insurance plan. A handy list of network hospitals and good knowledge of the claim settlement process will help you take the optimum benefit from your Medical insurance policy in testing times.
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