Articles

4 Reasons Availing a Health Insurance Plan is Vital

by sidharth kapoor Financial Advisor
You may see people talking about the health insurance or, your TV may have multiple advertisements running on it but are you really concerned? Generally, Indians have a mentality to keep health on the last priority, and that’s why they suffer! They suffer when a medical emergency strikes, they are not financially prepared and have to borrow a loan or ask from another person or even pay out from own pockets.

The cost of medical expenses including medicinal costs, hospital stays, surgeries, and other procedures are on a higher side, and it’s vital to be financially prepared. Medical insurance just takes care of it as it offers coverage against discussed costs. All that you have to do is – pay a premium and avail plenty of benefits. 

If you are still not convinced about the benefits of a good health insurance plan, let’s provide you with some reasons that will convince you to enroll for it now. 

1. Lower your Costs and avail Tax Benefits 
A good medical health insurance plan lets you avail discounted rates of your entire healthcare needs. What’s more, other than covering your medical costs inside out, it also offers advantages as per the Section 80D of the Income Tax Act. You can avail a tax deduction of up to Rs.25,000 for the insurance premium paid if the policy is your or your spouse’s or dependent’s children’s name. Until your son is 25, unemployed or student, the rule applies. The provision extends for your daughter till she is married. The deduction limit is Rs.30,000 if the policy also covers your parents who are seniors. 

2. Guarantee Enhanced Medical Care
Good health insurance offers facilities such as frequent check-ups and even preventive care. When you are properly screened for deadly diseases such as cancers and more during an early age, you get a better chance to get treated. Some insurance plans can offer such facilities including post-natal care to expecting mothers. Some of the medical health insurance plans also cover pre and post-hospitalization cost, and even Ayurvedic treatments, and hence, makes quality medical care affordable. 


3. Helps you Save Money for Future 
When you face a medical emergency, you are forced to use your savings for paying huge medical bills which may affect your future financial goals. A health insurance plan assists you to save money that you would have spent on medical bills and offers your relief. Overall, choosing good medical health insurance helps you save your money by fulfilling your entire medical needs. 

4. Discounts and Special Rates at your Service 
Did you know that a properly researched and outlined health insurance plan offers you multiple add-on benefits such as cashless claims, day-care benefits, and more? Yes, selection of a plan suiting your present and future medical needs helps you offer many deals and premiums at lower costs. You can also grab a medical procedure at a discounted rate as your insurer has an arrangement with best of the hospitals and doctors. As a result, you get all such facilities that help you save money for your family. 

The Bottom Line

Now that you are aware of the reasons that you should opt for health insurance, will you still risk your future cost of unexpected medical bills? No, right? 
You can analyze your medical history and current health conditions, and apply online for a medical insurance plan that covers your needs inside out. 
For this, you can compare all offers from insurers on a third-party website, and opt for the best deal!       

About sidharth kapoor Freshman   Financial Advisor

12 connections, 0 recommendations, 44 honor points.
Joined APSense since, May 30th, 2018, From Delhi, India.

Created on Jun 4th 2018 03:20. Viewed 304 times.

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