HEALTH INSURANCE

In today’s scenario, even if you are the healthiest person then also you can face health issues anytime and anywhere. Anyone can fall sick at anytime and anywhere and then face expensive medical treatment. This is why startups have started for health insurance so that everyone can ensure financial comfort at the time of a medical emergency.

A very well said line popular US politician, Jan Schakowsky, said that ‘Without health insurance, getting sick or injured could mean going bankrupt, going without needed care, or even dying needlessly.’

To keep the body in good health is a duty…otherwise we shall not be able to keep the mind strong and clear.

Buddha

WHAT DO ONE MEANS BY HEALTH INSURANCE?

As the name suggests, health insurance is a policy to check up on your health and keep yourself safe from excess money bills in hospitals and clinics during a medical emergency or serious health issues such as illness, accident, or disease.

Under this insurance, expenses charged during annual check- ups, pre, and post- hospitalization, and serious illness, psychiatric support, accidents, etc. as per your selected insurance plan.

WHAT IS THE NEED OF HEALTH INSURANCE PLAN?

Below mentioned are some points that tell why you need health insurance plans:

  • The cost of medical treatments has increased to a great extent. If you don’t have sufficient savings with you then you will face a lot of problems in buying treatment.
  • After you take health insurance from any company, those companies will be responsible for paying your bills for any future illness/ medical treatment without affecting your savings.
  • These health insurance plans cover several surgeries, check- ups (within a fixed time- period), ailments with some other medical aspects also.
  • You only need to pay a small premium amount monthly or yearly as per your health insurance plan and thus, you and your family can live tension- free.
  • In most of the cases, bills of the hospital, medicines, ambulance, consultations, etc.

WHAT TYPES OF HEALTH INSURANCE PLANS ARE AVAILABLE FOR CUSTOMERS?

Many companies are offering some health insurance plans on an individual, group, and family basis. Some important ones are listed below:

  • FAMILY PLANS - Under this plan, insurance for all the family members can be taken in a single plan. However, a fixed sum is provided to the family as mentioned in the bond in case of any emergency.
  • INDIVIDUAL PLAN - Under this plan, the hospitalization charges of that person is paid who takes this insurance.
  • SENIOR CITIZEN PLAN - This health insurance plan is given only to those people who are above the age of 60 years. It specifically meets the needs of these old people only.
  • PERSONAL ACCIDENT INSURANCE - Under this plan, all the hospitalization charges are covered by insurance companies if there is a motor accident with the insured.
  • MATERNITY PLANS - This is another special insurance under which expenditure for pre and post- natal medical care as well as delivery is covered. Even it covers the expenditure of new- born babies for a certain period of time.
  • CRITICAL ILLNESS INSURANCE PLANS - There is some serious illness whose treatment requires a lot of money. Heart attack, kidney ailment, cancer treatment, and other major health issues treatment are covered under this plan.
  • UNIT- LINKED HEALTH INSURANCE PLANS - This is a completely out of the box idea which also stands for insurance- cum- investment plan. These plans not only cover the finances of health issues but also help you in building savings for any future medical treatment which is not mentioned in this plan.

7 KEY BENEFITS OF HEALTH INSURANCE

  • TRANSPORTATION PAYMENT - All transportation charges like ambulance and other public convince of the person insured are included in the health insurance policy.
  • LUMP SUM PAYMENT - Under a health insurance policy, companies give a benefit to their customers by paying out a lump sum upon any kind of ailment/disease that is covered under the respective insurance plan. Payment will be made by the companies irrespective of the cost of the respective treatment. This benefit from companies will keep us away from any financial problem.
  • ROOM RENT PAYMENT - All the room rents in case of a medical emergency and other cases included in the health insurance policy are included in it if the customer gives premium money.
  • MEDICAL CHECK-UPS - Health Insurance policies always give their customers the benefit of medical check- up periodically. These check- ups are either free or charge very low.
  • TREATMENT IN ANY PART OF WORLD - When you take health insurance, you get a lump sum for medical treatment, thus the insured can take treatment anywhere as per the doctors’ advice and not rely on local and under- rated hospitals.
  • NO HOSPITAL BILL REQUIREMENT - Some fixed benefits are provided by health insurance plans do payments without any hurry of submitting hospital bills.
  • FIXED AND SMALL PREMIUMS - In all health insurance policies, the premium amounts are fixed and very little that everyone can afford. These premium amounts are fixed for the entire policy time period.