11 Reasons to Buy Health Insurance Policy if You Haven't Already

New Delhi : A health insurance policy is an insurance product that is specifically designed to provide financial assistance against expenses incurred in case of hospitalization or critical illness. It is a contract between an insurance company and the insured, where the insurer agrees to pay for the policyholder's medical expenses. Health insurance in India can cover medical expenses, including hospitalization charges, surgeries, treatment expenses, or any other medical cost.

The best health insurance policy in India can provide you with sufficient coverage during a medical emergency. With rising medical inflation and increasing hospitalization charges, getting hospitalized could mean losing all your hard-earned savings. Buying a health insurance policy can be a good way to afford quality medical care during emergencies.

11 Reasons to Buy a Health Insurance Policy

A health insurance policy can take care of all the medical expenses so you and your family will not have to worry about the finances. It also comes with extensive benefits such as in-patient care, pre-existing illness coverage, pre-and post-hospitalization expenses, etc.

1. Beat Medical Inflation

A health insurance policy can help you pay the medical expenses incurred during a medical emergency or a planned hospitalization. With health insurance in India, you can afford quality medical facilities and keep up with the rising medical costs.

2. Comprehensive Coverage

Having a health insurance policy can enable you to get the best medical care during emergencies without burning a hole in your pocket. In other words, the best health insurance policy can offer you comprehensive coverage against medical costs. It may cover your hospitalization charges, day-care procedures, domiciliary expenses, and ambulance costs, among other expenses. 

3. Covers Critical Illness

Most insurance companies in India provide critical illness coverage either as an add-on rider or as a standalone health insurance policy. Health insurance with critical illness cover provides coverage for life-threatening illnesses such as kidney failure, cancer, organ transplant, stroke, etc. However, it is essential to check the list of critical illnesses that the policy covers before buying it.

4. Cashless Hospitalization

Under a health insurance policy, you can avail of cashless treatments from any of the network hospitals under your insurance company’s plan. It is a feature where you do have to pay for the medical costs out of your pocket. Instead, the insurance company will directly settle the expenses with the network hospital on your behalf. Make sure that your preferred hospitals are on the list of network hospitals provided by the insurer.

5. Pre & Post Hospitalization Expenses 

Health insurance in India covers the expenses that you may incur on an illness before getting hospitalized and the expenses incurred for the follow-up treatment after getting discharged. The pre-hospitalization and post-hospitalization expenses are covered for a fixed number of days specified in the policy document.

6. Coverage for Pre-existing Illnesses

The best health insurance policy also provides coverage for pre-existing illnesses. It can be claimed after the completion of the waiting period. You must file a claim for the expenses incurred on the treatment of any pre-existing illness or condition.

7. Day-care Treatments

This policy also offers a certain number of days during day-care treatments. These are the treatments that require hospitalization for less than 24 hours. 

8. Medical Check-Ups

A health insurance policy also provides free medical check-ups for policyholders. Most insurance companies provide this facility on a regular basis. It may depend on the terms and conditions of the policy.

9. Ambulance Cover

Your health insurance policy may also cover ambulance services availed by the patient to reach the hospital.

10. Peace of Mind

Medical emergencies can be stressful both emotionally and financially. However, a health insurance policy can keep you away from financial stress and bring you peace of mind.

11. Tax Benefits

The premium paid toward a health insurance policy is eligible for tax deductions under section 80D of the Income Tax Act of India, 1961. 

While buying health insurance in India, you must carefully go through the policy documents. It is essential to look out for the inclusions, exclusions, sum insured, and the waiting period. Make sure to put together all the documents required for health insurance before buying your health insurance.

With increasing cases of lifestyle diseases, buying a health insurance policy is fundamental. But with so many options available in the market, finding the one that offers you maximum returns can be difficult. Consider buying a health insurance policy from a trusted brand like Max Life Insurance. They offer health insurance with affordable premiums, comprehensive coverage, and extensive benefits.