Financial distress can happen due to different medical contingencies, as a large number of people are still financially unprepared to handle such scenarios. People can, however, overcome the stressful period without facing any serious financial trouble by staying equipped with suitable health insurance plans.
So, how does a health insurance plan enable an individual to do the same? Well, to find the answer, read this article, as all the major aspects have been discussed here in detail.
How Does Health Insurance Help Individuals or Families?
Follow this list to understand how health insurance can be a saviour during medical emergencies:
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Access to Proper Healthcare
If you do not have substantial financial backing, you may have to compromise with the quality of healthcare. With health insurance, specifically with a higher sum insured, you do not need to worry about managing your finances during any medical emergency. You can easily avail the treatment you need from the healthcare facility of your choice.
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Protection Against Medical Inflation
You surely have noticed how the costs associated with healthcare are constantly rising. With gradual advancement in medical technologies, the increasing costs of accommodating and utilising such innovation fall upon patients. With insurance, you can manage the spiralling rise in treatment costs including surgery, room rent, medicines, doctor’s fees, and more.
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Prevent Lifestyle Diseases
Be it our unhealthy eating habits, sedentary lifestyle, or rising levels of stress, we are getting more prone to conditions such as heart disease, obesity, and diabetes even while we consider ourselves too young to get these diseases. However, health insurance plans encourage policyholders to go through check-ups regularly and take precautionary and preventive measures to keep us healthy.
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Comprehensive Coverage
Proper health insurance plans cover a variety of treatments and healthcare services. For example, a plan’s coverage includes hospitalisation, ambulance charges, surgery expenses, medication, room rent, doctor’s fees, pre and post-hospitalisation costs, domiciliary treatment, and so on. The coverage increases with the sum insured, which can come at affordable premiums too.
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Family Protection
Health insurance is essential for the modern individual as it allows him/her to take care of his/her family by including them in the plan. He/she can also opt for a family floater health insurance plan and protect the ageing parents, dependent children, and your spouse. This allows you to avoid financial crunch during medical emergencies and ensure your entire family’s well-being.
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Management of Medical Emergencies
Health insurance makes getting planned health check-ups and treatments easier, but, what it helps with the most is dealing with medical emergencies. With facilities like cashless hospitalisation, hassle-free reimbursements, zero waiting periods, a huge network of hospitals, top-up plans, and so on, you do not have to worry about financing a treatment or access to quality healthcare in the tough times.
What are the Advantages of Health Insurance?
Now that you know why you need health insurance, you may also like to know some of its benefits. Below we have highlighted a few for you:
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No-Claim Bonus
Did you know that without paying a single rupee extra you can increase your sum insured? Some health insurance plans allow you a bonus (an increase in your plan’s sum insured) each claim-free year. This also promotes good lifestyle changes indirectly.
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Tax Benefits
Under Section 80D you get tax rebates on premiums of your health insurance plan. You can claim deductions up to Rs. 75,000 on plans for yourself, your children, your spouse, and your parents. If you are a senior citizen, you may also get additional tax benefits.
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Additional Riders or Add-ons
When you purchase a health insurance plan you will have a lot of coverage options to choose from. Many insurers also offer useful raiders and add-ons that can make a plan even more comprehensive. These allow you to customise a plan according to your specific requirements without adding much to the premium.
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Cashless Claim Facility
A cashless claim facility is a lifesaving facility that removes the stress of managing your finances when you need medical attention as soon as possible. You can get admitted to any network hospital and you can get treated without paying anything out-of-pocket.
The Bottom Line
With a health insurance policy, you can manage your finances properly and prioritise your and your family’s well-being. Investing in proper health insurance plans lets you avoid medical inflation and have the peace of mind everyone desires and manage medical emergencies like a pro.
Moreover, if you are looking for excellent plans that cover everything you and your family need head over to ACKO’s website and browse what they have to offer.
