Why Is Health Insurance So Necessary Today?

by Priyesh Pandey Insurance Adviser There is nothing more important than health. Uninsured people are more than likely to obtain less timely and improper medical care. In today’s times, health insurance is not a luxury, but a necessity. It is good to compare health insurance and then sign up for the best one.
 
Why is health insurance required?
 
Medical emergencies occur out of the blue. Having an insurance policy helps you pay for these unforeseen events. It offers you the protection you require financially, to pay the large, looming medical bills. If you cannot afford to pay for the health care you deserve, it leads to poor overall health and it can even put you into financial distress.
 
What Amount of Cover is Required?
 
People are advised to take up health cover or buy online health insurance for at least that particular amount that would generally be lost through taxation. By signing up for health insurance every year, you can save up to INR 25,000 through tax exemptions. So also, for the same amount, you can take adequate health cover for you as well as your family of say about INR10 to 12 lakhs.
 
What Comes Under Health Insurance?
 
Every policy is different from the other. You need to compare health insurance, read the terms and conditions mentioned in a policy document and accordingly choose the right one. A policy can possess many features. 
 
These include cover given for accidental outcomes and for critical illnesses; cashless treatment services in networked hospitals; cover for before, during and after hospitalization expenses; in situations of incidents of covered health conditions, a sum is assured or a part is paid in cash; cover for various big and small medical issues; for covered conditions you get reimbursement of incurred expenses and death benefit that is paid to the nominee in situations of the policy holder’s death.
 
Things to Keep in Mind When Choosing a Health Insurer
 
It is important that the health insurance offer provided to you looks after your necessities and all the policy wordings as well as its meaning is clear to you. The insurance firm you choose needs to have an IRDA licence and its portal should possess transparent disclosures while their staff should be informative and customer-friendly and should give importance to claim settlements. 
 
It is necessary for the firm to have a good incurred claims ratio while a cooling period wherein reviewing of a document is conducted thoroughly, needs to be available. The pricing range and the various processes also need to be clearly specified.
 
When you wait to buy a policy, it inevitably increases the rate of premium. You need to buy health insurance for parents as soon as you reach the eligible age to do so. The premium is lower when you sign up for insurance when you are young. When you grow and age, health issues arise and the premium amount increases.
 
In conclusion, even though the government has set up many hospitals that ensure low costs on treatment, many of them are still not equipped with adequate and experienced staff as well as proper facilities. Health insurance is the best gift to meet any direct or indirect issues related to your health.

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Created on Dec 13th 2017 05:32. Viewed 715 times.

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