Top Reasons To Gift Yourself A Good Health Insurance Plan - Credihealth Blog - 5 minutes read
Health Insurance has become an absolute necessity in these difficult times. The Covid-19 pandemic has made people realize that people should not only focus on their health but also invest their money in a good Health Insurance plan.
Investment in Health Insurance Plan helps in meeting the expenses spent on medical procedures. It keeps you financially prepared to tackle such kinds of circumstances that can arise at any moment.
Here are some of the top reasons to opt for a good health insurance plan:
a. Medical costs are rising with each passing day. If you do not have sufficient savings, there is a probability that you might exhaust all your savings if you or your family has some medical emergencies.
b. Health insurance plans help in availing cashless treatment in a network of hospitals. If the treatment is carried out in a hospital which is not a part of the network, the reimbursement is given by the insurance companies.
c. Health insurance plans offer coverage for different types of ailments and surgeries. Hence, it keeps you and your family free from worries as most of the ailments are covered under majority of the health insurance schemes.
d. Expenses related to hospitalization, ambulance, medicines, consultation, etc. are normally covered under health insurance plans.
An insurance provider like ICICI Prudential Life Insurance offers a range of health insurance plans – Individual plans, Family plans, Senior citizen plans, Maternity plans, and more.
Fixed Benefit Health Insurance Plan is a preferred form of health insurance, as a certain amount of sum is paid by the insurance provider upon the occurrence of a pre-specified event that is covered under the policy. For example, if you have opted for a critical illness plan, the policyholder will receive a lump sum amount if the policyholder is diagnosed with that illness.
If you deep-dive into the Fixed Benefit Health Insurance Plan, you would observe that there are significant benefits of choosing the plan. The major benefits of Fixed Benefit Health Insurance Plan are below:
a. Lump-sum payout when the policyholder is diagnosed with the illness that is covered under the health insurance plan.
b. Most health insurance plans have sub-limits in terms of hospitalization expenses, rent, etc. In the case of a fixed health insurance plan, there are no sub-limits or hidden cryptic terms & conditions since the policyholder receives the lump sum on the diagnosis of the illness that is covered under the policy.
c. No need to keep a track of the hospital bills, as the fixed health insurance plan pays once the illness is diagnosed and has no dependency on the hospital in which the treatment is carried out.
d. Cashless treatment has its own set of benefits but this form of health insurance has many multi-fold benefits. Once you receive the lump-sum amount on being diagnosed with the illness, you can get yourself treated in any hospital located in India or abroad.
e. Lastly, you can avail of tax benefits under section 80(D) of the Income Tax Act, 1961.
Also go through, Everything You Should Know About Health Insurance Plans Before Choosing One
Strengthen Health Insurance Portfolio with Fixed Health Insurance Plan
As per a report, there has been a huge surge in the number of critical illness cases reported in India and this is long before the COVID-19 pandemic started creating havoc across the globe. Most of these diseases can be attributed to bad lifestyle and environment issues. There are some who suffer from hereditary diseases and health insurance becomes a necessity in such cases.
It is important to build a strong health insurance portfolio for yourself and your family. Additional security can be guaranteed if you choose a critical illness plan, especially if the policyholder or dependents are having some serious health concerns.
Since we are staying in a fast-paced world where many of us do not follow a regular health routine, critical illness plans provide protection from lifestyle-related diseases.
Before buying a fixed health insurance plan, it is important to analyse your needs in the first place. There is a significant difference between fixed health insurance & indemnity health insurance and there should be no confusion regarding the same.
The main purpose of investing in a health insurance plan is to get coverage and creating a formidable health insurance portfolio is the only way in which you can achieve this particular objective.
If your family has a history of critical illnesses such as cancer, heart ailments, kidney failures, etc.; it makes sense to opt for a fixed health insurance plan that provides coverage for that particular critical illness(es). This can be done along with a regular health cover plan so that you have sufficient coverage for the illness. If you are having a stressful life, you should invest in a critical illness plan, as the illness can happen at any age. Even if you are young and healthy but have a lot of stress, you should still go for the plan.
Health Insurance Plans have become a must-have in these unprecedented times and I would recommend ICICI Prudential Life Insurance plan as it has Fixed Health Insurance Plan.
Disclaimer: The statements, opinions, and data contained in these publications are solely those of the individual authors and contributors and not of Credihealth and the editor(s).
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Source: Credihealth Blog