In today’s scenario, a health insurance policy is very essential. The occurrence of uncertainty and risk factors is too high. People suffer from various types of diseases like cancer, cardiovascular disease, liver problems, and kidney failure. If one does not have a health insurance policy, the payment of such expenses will be extremely difficult for him because the rates for rooms, surgery, and medicines are too high. The word medical and health not be confused. These are two different terms. In medical insurance, the total cost of health-related expenses is paid by the company.
In health insurance, the amount is paid to the policyholder at the occurrence of an event like disease, accidents, etc. If the person dies, the amount is paid to the person who is registered as the nominee in the insurance policy. There is the availability of different types of health insurance. One can opt for insurance according to his requirements. There is personal health insurance joint health insurance that is for a husband and wife, etc. If any member of the family wants more coverage or if his medical expenses are likely to be higher, he can purchase personal health insurance for himself. It is to be kept in mind that you know about the GST on insurance premium is 18%. So, it will impact the premium amount, so one must plan the insurance policy accordingly. Here are a few reasons why everyone should have health insurance:
1) Provides financial support: Health insurance facility provides financial support to family members when the family’s sole bread-earner is ill and unable to work. It helps to reduce the burden of the family by covering hospitalization expenses both before and after discharge. These make it easy for the family during tough times. They help them by saving them from taking a loan at a high rate of interest or using their savings.
2) Cashless payment: It offers the convenience of a cashless transaction. Under this facility, one is not required to make a payment to the hospital for the expenses he has incurred, like room charges, medicine expenses, and surgery charges in the form of cash. A cashless facility is available. The insurance company makes a direct payment to the hospital account at the time the insured person si discharged for the services he has availed at the hospital.
3) Offers peace and reduces stress-If such a kind of medical emergency arises, it can become stressful for the family members and person who is suffering from it. It can create a situation of panic among them. They may have to run from one place to another for the money required for the treatment. But if one has insurance cover, there is no need for panic as the company will take full care of it.
4) Multiple claim option: It gives the option of filing multiple claims, so if a person is in an accident, he can claim the amount from the company. After a few days, if he suffers from any type of disease, he can again claim the amount from the company. There is no limit to it. But the claim can be made only till the period is not exhausted. Once the policy period is exhausted, no further claims can be made. One has to buy a new policy to get the benefits.
5) Hospitalization expenses: It allows for both before and after-hospitalization expenses. One can avail of the service not only during hospitalization but also before and after it. The insurance policy provides the benefit of availing of this service 60 days before and 180 days after hospitalization. After getting discharged from the hospital, one has to go for routine checkups and normal tests. All of these are covered in the insurance policy itself.
A health insurance policy has become a necessity in today’s era. Everything is uncertain. The treatment of diseases in today’s time is very expensive. They consume a lot of money and can be a cause of mental stress for the family members. It can create a huge burden for a person who does not have an insurance policy. He may have to live on loan borrowings, thus creating a burden on him which he has to repay after he gets well. There are various companies selling insurance policies. Care Health Insurance is one of them. It provides one with pre and post-hospitalization expenses and lower premium rates. One must read the rules and regulations before purchasing any policy. If one does not have a policy he should start planning for it as soon as possible because it is beneficial for your family members. Health insurance is the lifeline of today’s world. One must opt for the type of insurance policy that suits his requirement and plan his premium amount accordingly to prevent any kind of stress at the time of payment.