Why should you care about getting a Health Insurance Plan in India?

When we think about health complications, our mind often reflects on the worst cases. Something monumental as cancer or heart disease triggers our seriousness. While these are alarming, healthcare costs are on the rise for almost every health issue. Be it a broken leg or getting admitted for a low blood count. These often come unannounced and are medical emergencies, whether big or small. Hence, you need to prepare for them.

Saving funds is one way, but it lacks an estimated figure. So, when there is a need, you might find them insufficient. The practical alternative in such cases is Health Insurance. Despite its many benefits, many think it is an unnecessary expense. But this is the biggest misconception.

Our well-being is at threat due to unhealthy lifestyles, hectic schedules, and stress. Therefore, medical emergencies can occur anytime. Being prepared for the same with General Insurance is crucial. Here are some of the ways it helps:

Safety net

It is always good to be safe when it comes to health. You never know which underlying diseases may surface. This is regardless of your age. It is precisely what a Medical Insurance Plan is for. It is a safety measure for unprecedented medical emergencies. It does not have to get used, but it is good to have the assurance. That way, even if something happens, you are financially safe.

Tides through inflation

Medical costs are at an all-time high. The healthcare sector never rests with the emergence of complex ailments and diseases. This requires hospitals to invest in advanced medical equipment and technology. As a result, hospitalisation charges are unlikely to go down. In such instances, Health Insurance Plans help you. They cover the medical expenses regardless of the inflated rates.

Tax exemptions

Getting insured covers not only future costs but also offers tax relief. With the Insurance Policy, you get to claim a tax deduction of up to Rs. 25,000 under section 80D. This rebate is given on the premium paid towards the policy. You get to claim the same under your policy or that of your children or spouse. This reduces the tax liability to pay bills with a reduced tax burden.

Promotes health positivity

Insurers charge a premium on Health Insurance Plans in India based on specific parameters. They review your profile, medical history, current health complications, age, etc., for the same. If you have a positive record, you get charged with a lower premium and vice versa. This nudges you towards a healthy lifestyle. As you reduce the premium rate with each renewal, working on your health is a favourable decision.

Extensive coverage

With Health Insurance India, you get to cover a wide range of diseases. These include critical illnesses like cancer, heart ailments, painful surgeries, etc. Likewise, even minor complications also get covered. You get the details about the same on the insurers’ websites. Ensure to refer to it to get a clear idea. Moreover, the expenses covered go beyond hospitalisation. You also get compensated for ambulance, medications, diagnosis costs, etc.

Protects savings

We save funds for various purposes. But the most prominent one is a medical emergency. With Healthcare Insurance covering these expenses, your savings stay protected. You get to use them for other valuable purposes, which creates financial independence. Besides, you need not take Loans when the savings fall short, which mostly happens with medical emergencies.