Health insurance plan is a vital investment in today’s fast-paced world. With more and more people moving to a sedentary lifestyle, there are fair chances of developing illnesses. Also, increasing stress levels and lack of people to connect, have led to mental and financial stress on us.
Medical expenses are on the rise, and it is becoming expensive with time. With better hospitalization facilities coming into the picture, the costs ofmedical services are also becoming more expensive. With time, the trends of non-communicable diseases like heart diseases, cancer, and stroke, chronic respiratory diseases, diabetes, and kidney diseases are on the rise. Due to higher rate of sickness among people, it becomes even more essential to equip oneself health insurance.
Here are the top five reasons why investing in health insurances is crucial:
- Cashless treatment
All insurance policies nowadays offer cashless hospitalization. Cashless hospitalization means that you need not pay your hospitalization expense from your pocket. You inform your insurer, and they will do the needful. This way, you don’t have to wait for reimbursements. Cashless also reduces the stress of collecting the last minute emergency funds when there is a medical emergency. Cashless hospitalization is of great convenience but it can be used only in network hospitals.
- Pre- and post-hospitalization expenses
A health insurance plan covers all your hospitalization expenses. The medicinal costs and diagnosis expenses have gone up with time, and hence, the purchase of health insurance is even more vital. Medical expenses, pre- and post-hospitalization expenses are covered under health insurance plans.
- Organ donation expenses
The cost of a kidney transplant is huge for middle-class people. There are health insurance policies that cover your organ transplant expenses. Online health insurance plans are affordable, time-saving, and convenient. You can also buy health insurance online since it providesa hassle-free experience. There are online health insurance plans that will help you in claiming your expenses.
- Free health check-ups
One of the benefits the policyholders enjoy is free health check-up. There are free-health checkups offered by your insurer if you do not request any claim post a certain period.Having free health checkups is beneficial, especially if you own a family health insurance plan, where the cost might be too high.
- Tax benefits
The tax benefit is one of the reasons that many people buy health insurance. Health insurance helps you to cope with the medical expenses. It also assures you that you to save on the income tax returns that you file. There is a deduction of INR 25000 if you buy an insurance that covers you and your family. An additional tax benefit of INR 30000 is included if you cover your parents, who are above 60 years of age. You can claim the tax exemption under Section 80D of Income Tax Act.
Health insurances help you secure not only yourself but also your family. Investing in health insurance is also encouraged by the government because of various reasons.You can also cover for receive coverage for treatments of life-threatening illnesses under a critical illness insurance policy. The cashless hospitalization benefit offered by health plans is very convenient. You can also go for online health insurance and save your time. It is also a hassle-free option for those who are busy or always on the run. All these benefits summed up into one can help you save on your medical expenses.
