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Health Insurance

Health insurance is a financial safety net that covers medical expenses incurred due to illnesses, accidents, or other health conditions. It ensures that you and your loved ones receive quality healthcare without worrying about rising medical costs. With the right health insurance plan, you can access hospitalization, doctor consultations, diagnostic tests, and even preventive care.

Stay Covered, Stay  Safe Strong  Secure

Benefits of Health Insurance?

Health insurance covers medical expenses, reducing financial stress during emergencies. It provides cashless hospitalization, ensuring hassle-free treatment. Preventive care, check-ups, and specialist consultations are included. Tax benefits under Section 80D offer savings. With rising healthcare costs, a good policy secures your health and finances efficiently.

Types of Health Insurance

Individual Health Insurance

Covers a single individual.

Senior Citizen Health Insurance

Specially designed for individuals above 60 years.

Family Floater Health Insurance

A single policy covers the entire family.

Group Health Insurance

Offered by employers for their employees.

Key Features of Health Insurance

Health insurance covers pre and post-hospitalization expenses, daycare procedures, and maternity benefits, including newborn coverage. It also provides pre-existing disease coverage after a waiting period and rewards claim-free years with a No-Claim Bonus (NCB). Additionally, many plans include AYUSH treatments like Ayurveda, Yoga, and Homeopathy.

How to Choose Right Health Insurance Plan?

Assess Your Needs: Consider your age, medical history, and lifestyle.

Compare Premiums: Choose a policy that offers maximum benefits at an affordable premium.

Network Hospitals: Ensure the insurer has a wide network of hospitals for cashless treatment.

Claim Settlement Ratio: A higher ratio indicates a smoother claim process.

Health Insurance Claim Process

Cashless Claim

  • Get treatment at a network hospital.
  • Show your health card at the hospital desk.
  • The insurer settles the bill directly with the hospital.

Reimbursement Claim

  • Pay for medical expenses upfront.
  • Submit bills and documents to the insurer.
  • Receive reimbursement as per policy terms.

Frequently asked questions

There is no specific age to buy health insurance. However, the earlier you buy, the lower the premium and better the coverage. Young individuals can get policies with minimal exclusions and waiting periods.

Most health insurance policies cover pre-existing diseases after a waiting period, typically ranging from 2 to 4 years. Some insurers offer plans with shorter waiting periods for pre-existing conditions.

Yes, you can have multiple health insurance policies. In case of a claim, you can use multiple policies to cover your expenses, following the contribution clause.

 

NCB is a reward for policyholders who do not file a claim in a policy year. It either increases the sum insured or reduces the premium for the following year.

If you miss the renewal date, most insurers provide a grace period of 15 to 30 days. However, failing to renew within this period can result in a policy lapse, and you may lose benefits like waiting period credits.

 

To lower your premium, opt for higher deductibles, maintain a healthy lifestyle, choose a family floater plan, or avail discounts for multi-year policies.