What is the need of health insurance?
With the constant increasing prices of healthcare in our country, and with the ever rising instances of diseases, health insurance today is a necessity. Health insurance provides people with a much needed financial backup at times of medical emergencies. Health risks and uncertainties are a part of life.
Do I need health insurance in India?
Health Insurance is necessary for every individual, keeping in mind the rising medical costs and spurt of lifestyle diseases amongst Indians. ... Financial advisors therefore suggest that it is prudent if you to buy a health plan early in life.
Which is the cheapest health insurance in India?
Star health insurance plans is the cheapest health insurance with best quality service.No fear when star health is here.Best insurance plans.mediclaim & cashless plans.
Which is the No 1 health insurance company in India?
Health Insurance Providers In India
S.No Insurance Company Solvency Ratio % for 2019-2020
1. Star Health and Allied Insurance Company 1.69
Benefits of having a Health insurance Policy
1. Cashless Treatment: If you are insured, you can get cashless treatments as your insurance company would work in collaboration with various hospital networks.
2. Pre and post hospitalization cost coverage: Insurance policy also covers pre and post hospitalization charges up to the period of 60 days, depending on the insurance plans purchased.
3. Transportation Charges: Insurance policy also covers the amount paid to ambulance towards the transportation of insured.
4. No Claim Bonus (NCB): This is the bonus element which is paid to the insured if the insured does not file a claim for any treatment in the previous year.
5. Medical Checkup: Insurance policy also provide options for health checkups. Free health checkup is also provided by some insurers based on your previous NCBs.
6. Room Rent: Insurance policy also covers room expenses depending on the premium being paid by the insured.
7. Tax Benefit: Premium paid on Health insurance is tax deductible under section 80D of the Income Tax Act.
Types of Health Insurance
1. Individual Health Insurance: This policy covers the health expenses and hospitalization expenses of individual who has taken the policy. Premium under this policy is determined as per the age of insured.
2. Family Health Insurance Plan: Under this policy, an individual can include all the family members against multiple diseases under a single cover. Family health plan offers a fixed sum assured for the family members, which can be availed by all members of the family or by any one individual in the family.
3. Senior Citizen Health insurance Plan: This policy is designed for the senior citizens or individuals over 60 years of age offering protection from health issues during old age.
4. Surgery and Critical Illness Insurance Plan: This plan is suitable for the insured that requires treatment against critical illness, such as kidney failure, paralysis, cancer, heart attack etc. As the medical expenses of these treatments are very high, the premium applicable to these types of policies is also high.
5. Maternity Health Insurance Plan: This policy covers costs, including pre and postnatal care, child delivery expenses of newborn babies. This policy is also covered for the newborn up to a certain period of time as mentioned in the plan. Ambulance costs are also covered.
6. Personal Accident Plan: This policy covers hospitalization expenses in the event of an accident. Premium amount is depending upon the amount of cover taken.
7. Unit Linked Health Plan: These plans offer a unique combination of insurance and savings both at the same time. This policy helps in building a corpus which can be used to meet those expenditures which are not covered by the insurance policy.
Why Star Health insurance is best?
Star Health Insurance provides the most comprehensive protection to you and your family in times of need. It provides financial protection in case an eventuality strikes. However, to be fully utilised the best star health insurance policies, it is vital to make an informed decision while buying a plan.
For More Details About Insurance plans.
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