The number of patients suffering from health ailments daily is increasing. Despite living an active lifestyle, you cannot diagnose health issues before their arrival. Your body starts degrading, and the bones become weak as you grow older. Your immunity decreases, leading to an increased risk of chronic ailments.
The costs of medical care are rising with time. Of course, prevention is better. But health ailments come without warning. Hence, it is safer to remain prepared with Health Insurance. It compensates for the medical and surgical expenses up to a specified limit.
A range of Health Insurance Plans is available in India, like the Critical Illness, hospitalisation, and Family Floater Plans. Under the hospitalisation policy, the company covers only the hospitalisation costs. You bear the remaining expenses from your pocket. The Critical Illness cover includes predetermined illnesses as specified in the document. You receive a lump sum from the company for their treatment upon diagnosis.
The Family Floater is a single plan that covers you and your family. You receive a fixed insured amount for every member covered under this Medical Insurance.
Due to hectic lifestyles and stress, health is an asset that people want to protect. In reality, healthcare is a sector that is undergoing steady inflation. Rather than paying hefty bills for treatment and hospitalisation, you pay the Health Insurance Policy provider a small premium to get the insured amount.
For adults, the eligibility for buying Health Insurance in India is between 18 and 65 years. Children enjoy these benefits from 90 days old till the age of 18 years. The premium amount significantly increases as you age. Thus, buy the policy early for maximum benefits and coverage.
When you buy Health Insurance Plans in India, Section 80C of the Income Tax Act offers some tax benefits. You are eligible to receive a tax deduction of Rs. 25,000 while paying a premium for yourself and the family. If your parents are below 60 years old, they receive a deduction of up to Rs. 25,000 on the premium. You get a deduction of Rs. 50,000 if your parents are aged.
Hindu Undivided Families get a tax deduction of Rs. 25,000 on their Insurance Plans, where one of the members of the HUF pays the premium. If you pay for a preventive health checkup, you get tax deductions of Rs. 5,000, part of the overall limit of Rs. 25,000.
How to buy it?
This plan is necessary for all. Since the medical costs are high, you should buy the policy to protect your savings and fulfil other priorities. Visit any General Insurance provider in your locality to enquire about the inclusions, benefits, and costs. With the help of technology, you can conduct all activities conveniently from anywhere. For example, online Health Insurance makes comparing and checking policies simple.
You should visit the company website and refer to the policy documents for information. Choose an affordable option covering most of your requirements after a thorough assessment.
We should keep our bodies healthy and reduce the burden on our wallets with Insurance. It helps us pay for immediate treatment while fulfilling our aspirations.
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