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Know About Health Insurance Policy. How it is Helpful?

by Harjot Narula Compare Policy Insurance

A healthy life leads to a happy life and that's why most of the people are very much concerned about their health. Balanced diet, daily exercise, avoiding life threatening addictions, healthy lifestyle, all these practices leads to a healthy life. But even while following these healthy habits, no one knows when a medical attention can knock on his/her door. Everybody is prone to diseases and unfortunate event can happen to anyone at any time. Precaution is better to avoid issues, but a backup plan for miss happening is also necessary and a health insurance policy acts as a perfect tool to minimize the risk of health issues.

A health insurance policy is a type of insurance coverage, which gives cover for the surgical and medical expense of the insured person. The person whose medical expenses are covered by the insurance company is known as "insured" and the company which provides cover is known as the "insurer". The expense is either directly paid by the insurer to the medical facility or the insured person can reimburse the cost later. A health insurance policy is very helpful and necessary for everybody because it comes with a bunch of benefits.

So through this article we will look at how Health insurance policy is helpful for you

Cover for critical illness

If you have a family history of certain critical illness or if you think that you are prone to certain critical illness, then you don't have to worry about it as Health insurance plan provides cover for critical illness also. Every Health insurance policy comes with a list of critical illnesses which it covers. The list can include serious health issues like heart attack, cancer, paralysis, etc. Every policy has a different list of critical illnesses which it covers.

Cashless treatment

A medical emergency which requires instant arrangement of large cash amount can prove to be a very difficult situation for anyone. But having a health insurance policy in such condition can do wonders for you. A health insurance policy provides cashless treatment through its network of hospitals. Every insurer has its network of hospital in which they provide cashless treatment. Insurance companies have tie-ups with medical facilities through which any policyholder would not have to pay for health care facilities and the hospital will be directly paid by the insurer.

Best tool to fight inflation

The cost of health care is increasing day by day. The Inflation rate in the health care sector is way ahead of any other sector. With better technologies and fast treatment, the cost is also rising. A health insurance policy can act as the best tool to fight inflation of health care because what you save today might not be enough for your future medical requirements. You can decide the right amount of cover (by keeping in mind, the rate of inflation) under your health insurance policy so that you will not have to worry about the rising cost of health care as you will be properly covered.

Convalescence Benefit

During the period of hospitalization, lots of money is incurred and you also lose your income because of your hospitalization. So it blocks your earning and devours your savings. A health insurance policy doesn't only provide cover for health care, but pays a lump sum amount for your loss of income due to hospitalization also. This is known as the convalescence benefit or recuperating benefit of health insurance policy. It takes care of the recovery expense of the insured person and in addition it covers compassionate visit by family members also.

Daily hospital cash allowance

During hospitalization, food and daily requirements add up to your bill of medical expenses. But a daily cash allowance under your health insurance policy covers your additional cost (like food and travelling) during hospitalization on a daily basis. The amount of allowance on a daily basis varies from company to company and you don't have to submit any bill of daily expense for availing your daily cash allowance.

Cover for AYUSH treatment

Non-allopathic treatment is being preferred by many people over allopathic treatment. Treatments like Ayurveda, Homeopathy, Yoga, are proving to be very effective in many cases of serious health problems. Most of these treatments provide a natural way of curing diseases which is the reason why people are moving towards AYUSH treatment. So, even if you are going for a non-allopathic treatment, you don't have to worry about the cost because many health insurance companies provide cover for AYUSH treatment (non-allopathic treatment like Ayurveda, Yoga, Unani, Sidha and Homeopathy) also. The cover amount and conditions vary from company to company.

Covers treatment at home

Health insurance policy doesn't only provide cover in case of hospitalization, but treatment taken at home (as per doctor's advice) is also covered by some companies. The reason for taking treatment at home can be the unavailability of bed in hospital or the inability of the patient to visit the hospital. But the treatment should be properly advised by the doctor.

Maternity benefit

Many health insurance policies come with a maternity benefit under which cost incurred in normal and caesarean delivery is covered. In addition to cover for delivery, some health insurance policy provides cover for newborn baby care. The limit of cover for newborn baby care varies from company to company and same goes for the cover for delivery.

Allowance for attendant

If the insured is a child and he requires accompany of an adult, then the health insurance policy provides cover for that adult under their allowance for attendant. There is a specific number of days for which an insurer pays the attendant allowance.

Organ Donor expense

The technology of organ transplant has saved many lives, but it is a very costly treatment also. Many people are not able to avail organ transplant because of its high cost. Not all, but some of the insurance companies are providing policies which give cover for organ donor expense. Some insurance companies cover the whole cost of organ donor expense while some set a cap over it.

Pre and Post Hospitalization Cost

Pre hospitalization cost includes the cost incurred before getting hospitalized like blood test, urine test, x-ray, etc. while post hospitalization cost, includes cost incurred after hospitalization like diagnostic charge, medicine cost, etc. Both pre and post hospitalization cost are covered under a health insurance policy. You need to check the number of days for which pre and post hospitalization cost are covered in the policy.

Day Care Procedure

Day care procedures are those medical treatments which require less than 24 hours for completion. This has been made possible due to the advancement in technology. Some of the health insurance policy provides cover for all the day care procedures while some cover limited day care procedure which is mentioned in the policy details. Day care procedures are very expensive and having a health cover can help you reduce this burden.

A health insurance plan is a single solution to various problems of health care. A normal surgery can cost up to RS.1 Lakh and with people becoming more prone to diseases and life-threatening situations, health insurance has become a necessity. Following a healthy lifestyle minimizes your chances of illness while adding a health insurance plan to that, makes you financially protected against health issues.


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About Harjot Narula Innovator   Compare Policy Insurance

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Joined APSense since, June 13th, 2016, From Noida, India.

Created on Dec 31st 1969 18:00. Viewed 0 times.

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