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Ref. No. KLI/22-23/E-BB/492
A Health Insurance is a medical plan or health cover that looks after the financial expenses that arise due to medical issues. Read this article to know the basics of health insurance.
Good Health is central to leading a carefree and fulfilling life. While most people manage to lead a healthy lifestyle, there are others who are perpetually struggling to create one. Having said that, no matter how healthy you are, one thing you can never predict is health issues, diseases, and illnesses. These issues have a very good potential to develop into tall bills that will surely burn a hold in your pocket. However, under such circumstances, there’s one thing that proves highly beneficial: Health Insurance Plans!
A Health Insurance is a medical plan or health cover that looks after the financial expenses that arise due to medical issues. Such expenses may include consultation fees with the doctor, surgery expenses, hospitalisation costs, expenses for medication, etc. Sometimes, this health policy plan includes dental costs as well. As the insured person, you will either have to pay the bills out of your pocket, which your insurer will reimburse later, or the insurer will directly settle all expenses with the medical Centre/hospital, or you can get the amount post the diagnosis of the medical condition and use it in any hospital of your choice.
No matter how many plans you have for right now or the future, falling ill is never one of them. So being cautious and staying prepared for the unexpected in advance is advisable. Instead of stressing over the medical expenditure, you should be focusing on attending to the situation and recovering. By investing in medical insurance coverage, there will be financial stability and peace of mind.
Let us consider an example - a person suffering from cancer has to consume an extensive prescription of drugs. Each drug must cost in the range of thousands. Assuming the treatment can last from months to years, the expenses on drugs alone take up lakhs. In addition to that, there are tests, consultation fees, hospital fees, etc. Thus, one disease alone has the potential to drain your entire savings. Therefore, it is best to buy medical insurance as early as possible. That way, you are ensuring the well-being and comfort of your family and yourself in the long run.
The benefits that come along with health insurance makes it a must-have instead of a good-to-have backup. The advantages are endless; however, the most important ones include:
Getting health insurance when you are younger and healthier is recommended, as the older you get, your premium amount increases. You can get a head start by using a calculator to gauge your premium and coverage amount online. Mentioned below are some eligibility criteria for applying for a health insurance plan -
There is ample information on health insurance plans in India. You can access them online or by visiting an insurance company in person, wherein experts can guide you. Remember, Health Insurance Coverage is a must-have!
Ref. No. KLI/22-23/E-BB/2435