We don’t really know the future. Risk and health are uncertain. The best way to keep them in check is to have a backup that can really help you when in danger. Health insurance is one such requirement everyone needs to have. Health insurance is a type of insurance that helps you go cashless on the treatments. Not only this, it will also support you during your difficult days. Nobody really likes being ill or hospitalized and there are a very few who help us in difficult times. An insurance policy helps in reimbursing for the medical treatment and surgeries.
This facility is provided by the insurance company where you pay for the insurance and it helps you during the difficult times. The insurance provides for the surgeries, treatment and the illness according to the plan chosen by the insurer. It varies from plan to plan and person to person. Some policies also pay for the room charges and some do not. This depends on the type of policy you prefer. Furthermore, there is a tax exemption under the Section 80D of the Income Tax Act, 1961. It is always better to be insured rather than having a tough time.
Importance of health insurance in India
The health insurance industry in India is one amongst the fastest growing industries. However, as per the records, it was found out that only 20 percent of Indians had a health insurance. In a country like India, there is the utmost importance of health insurance. Off late, the medical expenses are reaching the sky and it is not really affordable for everyone to get treated in luxurious corporate hospitals. Most of the population is middle class and lower middles class and they prefer to have a minimal expense on their medical treatments. Hence, the importance of health insurance counts a lot in a developing country like India.
To explain in detail, health insurance helps in covering the following;
- Doctor fees and medical tests.
- Ambulance costs in urgency.
- Charges when hospitalized.
- Post hospitalization charges that include check-ups after the disease or surgery, medicines and so on.
So, a health insurance can act as a way to cover up all the expenses that you may have to pay. Medical is an emerging market and with the following upgrade in the machines and techniques used these days, the hospitals will only get expensive and make it difficult for the lower middle and middle classes to pay for the fees and charges for hospitalization.
What are the benefits of health insurance?
Now that you thoroughly know the importance of health insurance on PolicyX, lets us also give you an insight on the benefits of health insurance. One amongst the major importance of health insurance policy is that it helps with the quality healthcare at the time of emergency. For families and individuals who do not have mediclaim or health insurance, the hospitalization and charges become difficult leading to emotional, mental and financial problems. One amongst the common situations faced by Indian is when they run out of cash during a medical emergency. It is beneficial to have a health insurance rather than paying the hospital bills.
Another benefit that health insurance gives you is that it helps you go cashless during an emergency. There are various health insurance companies that take care of the expenditure and hospital cost. One amongst the major importance and benefits of health insurance plans is the cashless benefit that it provides. The cashless benefit helps in a tremendous way when the policyholder falls in a difficult situation and needs medical attention urgently. During the emergency, the insurance acts for the entire medical emergency and the insurance company looks after all the expenses. Having a health insurance policy should become one of your top priorities.
Other than that it also provides with the payment of the room rent after the treatment or surgeries are done. But the policyholder must check for the inclusion of the same in the insurance policy he or she holds. It is the duty of the policyholder to check what all the policy offers.
Hence, if you do not have a health insurance policy, just go and buy one immediately. This will help you during the emergency. Buying the health insurance policy should be one amongst your top priority.