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Health Insurance Plans: Top Reasons and Benefits

Health Insurance Plans: Top Reasons and Benefits
June 20
13:38 2022

Health insurance plans are one of the most important investments you need to make, as the rising cost of healthcare is making it harder than ever to access quality medical care without wiping out one’s savings. One hospitalization event can be more than enough to leave an individual’s family at risk of financial doom. The best health insurance plans help you negate that risk by covering you for all of the in-patient hospitalization costs up to the sum assured without requiring you to spend anything out of your own pocket.

In this article, we will look at a few of the top reasons and benefits of health insurance plans, and why it is imperative that you invest in one right away!

Provides Extensive Cover for Hospitalization

The best health insurance plans are designed to ensure that in case of an unfortunate hospitalization event, the policyholder doesn’t need to scramble for resources. All they need to do is reach the nearest network hospital for access to cashless hospitalization, the insurance takes care of the rest. From room rent, medicines, diagnostic procedures, nursing charges, surgery, etc. all charges are taken care of by the insurance policy. This helps the insured focus on getting better, and spending time with their loved ones without bothering about how to arrange money to pay the bills.

Pre- and Post-Hospitalization Cover

Normally, the best health insurance plans cover you for up to 30 days of pre- and 60 days of post-hospitalization. Meaning, it takes care of all charges pertaining to medicines, diagnostic procedures, doctor’s fees, etc. both before and after surgery up till the policy terms and conditions. Run a medical insurance comparison to find out how much pre- and post-hospitalization cover is being offered by various insurance service providers to choose one that comes with maximum days being covered under the policy.

Critical Illness Cover

Health insurance plans may also sometimes offer you the option to go in for added cover for critical illnesses. Since a critical illness takes longer to recover from a critical illness, most of the times the insured isn’t in a condition to work. A critical illness cover offers the insured a lumpsum payout that can be used by the insured to pay for household expenses, as well as pay for any additional commitments like EMIs, etc. that they may have.

Access to Top Hospitals Across the Network

Major insurance service providers have some of the top medical institutes and hospitals on their network. As medical costs are on the rise year on year, access to these top-tier hospitals is getting much more difficult as the cost of treatment is very high. Thankfully, the best health insurance plans ensure that you have access to the best of hospitals as part of their network regardless of the levels of inflation. Also, check to see if nearby hospitals within your immediate vicinity are covered so that you can reach the nearest medical facility during an emergency, as traveling tens of kilometers to reach a facility is not recommended since time is of the essence during an emergency situation.

Tax Savings

The premiums that you pay on health insurance plans qualify you for tax savings under Section 80 D of the Income Tax Act. So, you are not only saving on taxes, but rather investing that saved money on something that adds value to your life by ensuring that you always have access to the best of healthcare regardless of your financial standing.

As you must have realized by now, the best health insurance plan is one of the best investments you can make, because the benefits that it offers is unmatched by any other type of investments. However, it’s best to buy health insurance plans early, as the sooner in life you buy a health insurance policy the lesser premiums you would have to pay. The premiums increase as you age, for the same amount of coverage, so make a wise decision and get insured early.

If you are still to buy one, then max life insurance has few of the best health insurance plans in the industry that offers extensive coverage for medical exigencies. Moreover, they have one of the most robust hospital networks with top tier medical institutes and the best medical facilities on the roster, so you can get the best in medical care. Also, their impeccable settlement ratio ensures that your claims are honored on time without you or your loved ones having to run from pillar to post. So, if you still don’t have insurance, it’s high time to get one to stay protected against any and all medical exigencies!

 

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