Why Do You Need Health Insurance?
Health insurance is critical in today’s time especially due to our sedentary and fast-paced lifestyle, improper diet, and pollution increasing at an alarming rate. With rising healthcare costs, you wouldn’t want your medical expenses to burn through your savings.
Thus, it is essential to opt for health insurance at an early age so as to enjoy affordable premiums and early completion of waiting periods. Some of the reasons that make health insurance a must-have are:
Health plans help you avail the cashless facility during times such as medical emergencies, sudden hospitalisation, etc.
Enables you to protect your hard-earned savings from soaring medical costs
Allows you to put your health first and get the best treatment with insurance
Inclusions of Health Insurance Plans
You can go through the below pointers to understand the aspects covered under health insurance:
Pre and post-hospitalisation expenses
In-patient hospitalisation
Daycare treatment
Alternative treatment such as AYUSH
Ambulance cover
Organ donor cover
Sum insured restoration benefit
Exclusions of Health Insurance Plans
The below-mentioned factors aren’t covered by your insurance provider:
Basic Health Insurance Terms That You Must Know
Let’s understand some common health insurance terms that you should know while opting for a plan:
Deductible: It is the amount that you need to pay for health care services before your health insurance company starts covering the cost. For example, consider that the medical expenses to be paid are ₹2,500 and your deductible is ₹500. So, you must pay ₹500 from your own pocket before your insurance company pays the balance amount of ₹2,000.
Types of Health Insurance Policies
There are broadly two types of health insurance plans available, indemnity and defined benefit plans.
1. Indemnity Plan
Indemnity insurance plans are health policies that pay for hospitalisation expenses of the policyholder up to the sum insured. Some common types of plans are:
2. Definite Benefit Plan
Such plans provide coverage to the policyholder for a pre-determined benefit. Definite benefit plans include:
Bottom Line
With this, you must now be aware of everything there is to health insurance which will help you pick the right plan. If you find yourself confused about which policy to opt for, make sure to talk to an insurance agent to clarify your doubts.
It’s also crucial to understand the inclusions, exclusions, terms and conditions mentioned in your policy. You can choose to buy a health insurance plan online once you’ve got all your queries answered and clarified. To get the best health insurance policy, head over to Bajaj Markets now and browse through our plans.