Health Insurance


 

What is Health Insurance?

Health insurance is a type of insurance coverage that covers the cost of an insured individual’s medical and surgical expenses. Depending on the type of health insurance coverage, either the insured pays costs out-of-pocket and is then reimbursed, or the insurer makes payments directly to the provider.

In health insurance terminology, the “provider” is a clinic, hospital, doctor, laboratory, health care practitioner, or pharmacy. The “insured” is the owner of the health insurance policy; the person with the health insurance coverage.

Health cover provide complete protection to the insured and family. One can cover your spouse, children and dependent parents from all Health worries.

The Health Insurance cover can be of two types –

a) General Health Insurance Cover

b) Critical Illness Cover provide for critical illnesses/diseases such as heart attack, kidney failure, diabetes and cancer.

 

Compare & Buy Health Insurance : 

  1. Insured Details
  2. Compare & Choose
  3. Health Info
  4. Make Payment

 

Health is very precious and maintaining a good health is really difficult. Get ready to afford the best medical facilities for you and your family. Health Insurance covers expensive medical costs during accidents, sudden illness and surgeries. The best health insurance cover in India also includes doctor’s fees, charges on your room, diagnostic and medical facilities, ambulance service cap, oxygen, blood, medicines and things like artificial limbs or pacemaker etc which may arise in future.

Health insurance is the best way to handle crisis situations like injury or illness at any age in life with ease. It takes away the burden of medical expenditures, whether planned or sudden. Policyholder may get cashless facility based on insurance company only if insured visit one of their networked hospitals.

Health insurance companies will pay the medical bills of the insured when policyholder gets injured in an accident or becomes sick. Healthcare plans are available for an individual and groups as well. It ensures that all hospitalization aspects are well covered, so that you can concentrate your attention on good health of your family.

 

Before buying any healthcare plan, evaluate the features, rates, exclusions and provisions of the similar insurance products. Many insurance companies offer certain cumulative bonus for every claim-free year.

Individual Health Insurance

Buy this plan to ensure the medical costs of an individual as it includes the medical expenses of pre- and post-hospitalization incurred towards the ailment or disease for which medical tests are essential before hospitalization and at the time of discharge.

Health Plan with OPD Coverage

OPD benefit claims can be made on a re-imbursement basis only.

Family Floater Health Insurance

This plan covers your entire family under single health insurance policy.

Family Floater including Parents or in-laws

It covers the medical expenses of extended family but only up to certain number of dependents including parents or in-laws. Sum insured under this policy is shared across family members and as compared to an individual insurance, it is less expensive.

Critical Illness Cover & Rider

Critical illness cover offers protection against loss of income on diagnosis of Cancer, Heart Attack, Kidney Failure, Paralysis, Bypass Surgery, Major Organ Transplant, Stroke, Multiple Sclerosis or Heart Valve Replacement Surgery.

If you have a rider and diagnosed with critical illnesses, then policyholder get a greater cover at less expensive costs. In case of a separate critical cover, you need to pay the due treatment amount in lump sum only if diagnosed with a critical illness.

Top Up Health Insurance Rider

In case the hospitalization cost is beyond the mentioned limit, then the extra amount will be paid by the insurer. If an employee wants a medical cover but more than what is offered by his employer’s group cover, then top-up cover is much better. If policyholder owns two health policies from two different insurance companies, then each insurance company will pay its part of the claim.

Cover for Pre-existing Diseases

Pre-existing diseases are medical illnesses or conditions which exist already at the time customer purchase health insurance. It may possible that the policyholder or a customer purchasing the health plan is not aware of such conditions. All the clarification about pre-existing diseases is necessary while buying a health insurance plan.

Renew Up to Age

Most insurance firms have set age limits up to which you can renew your health insurance policy. Once you crossed that age limit, then health insurance cannot be renewed.

Premium Saving Tips

It is good to buy health insurance cover at early age because the premium starts to increase with age. Select the option of annual premium payment to save on costs and compare quotes from best general insurance companies in India.

The Policy Covers:

  • The Policy covers illness / disease or accidental injury leading to expenses – hospital charges (room & boarding and operation theatre), fees of surgeon, anesthetist, nurses, cost of medicine, oxygen, blood, cost of appliances like pacemaker, artificial limbs and cost of organ donor expenses.
  • Hospitalization expenses subject to a maximum of the sum insured at inception of the policy
  • Maternity benefit available
  • Pre hospitalization Post hospitalization expenses
  • Cashless Facility at hospitals (those who have tied up with the insurer to form a network) throughout the country. The Cashless Facility means that the insured does not have to pay from his/her pocket for a large part of the expenses incurred at a network hospital – they are handled directly by what is known as the Third Party Administrator (TPA).

Exclusions

  • Any treatment relating to any illness / disease already in existence at the time of proposal. But it is covered after a waiting period of 2 years or 4 years depending on the policy.
  • Any disease / injury during first 30 days of commencement of policy (accidental injury is not an exclusion).
  • Treatment of cataract, benign prosthetic hypertrophy, hysterectomy for menorrhagia on fibromyoma, hernia, bydorcele, congenital internal disease, fistula in anus, sinusitis and related disorders only during first year of cover.
  • Vaccination, inoculation, circumcision or change of life or cosmetic or aesthetic treatment, plastic surgery unless necessitated due to accident or as a part of any illness.
  • Dental treatment or surgery of any kind unless requiring hospitalisation.
  • Cost of spectacles contact lenses and hearing aids.
  • Convalescence, general debility. “run-down” condition, sterility, venereal disease, intentional self-injury, use of drugs and and intoxicants.
  • Any variation of deficiency syndrome or AIDS.
  • Treatment arising from or traceable to pregnancy or child birth.
  • Nuclear perils and war group of perils.
  • Naturopathy treatment.

 

Tax Benefits

Exemption under section 80 (D) of the Income Tax Act, 1961 is presently available for premium paid by cheque upto Rs 25,000.