What is Health Insurance?
A medical insurance policy, also called as health insurance, covers medical expenses for illnesses or injuries. It reimburses your bills or pays the medical care provider directly on your behalf. A comprehensive medical insurance covers the cost of hospitalisation, daycare procedures, medical care at home (domiciliary hospitalisation), ambulance charges, amongst others.
What are the benefits of buying a health insurance policy?
Covers pre and post hospitalization
One of the key benefits of a health insurance policy is that it covers your medical expenses incurred just before and after hospitalisation.
Covers pre-existing diseases
A health plan covers you for a pre-existing disease once you have completed the waiting period mentioned in the policy certificate.
Provides cashless treatment
At the time of hospitalisation, you don’t have to worry about arranging cash to pay your hospital bill. Your health insurance company will settle it directly with the hospital if it is in their network.
Lets you claim tax benefit
You can claim a tax deduction on health insurance insurance premium under section 80D of the Income Tax Act, 1961.
Provides additional sum insured
Keeping healthy has its own benefits. You can enjoy additional sum insured for every claim-free year as per the policy certificate of your health plan.