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It really is rightly said that health is wealth. Changing lifestyle habits, increase in pollution levels, and many other factors have a severe effect on an individual’s health. This may cause various health issues and medical diseases.

Medical costs from the treatment of such diseases are increasing rapidly. To be able to safeguard your finances against high medical bills, it’s important to purchase health insurance plans. Such plans cover all hospitalization expenses, as well as pre-hospitalization and post-hospitalization charges.

Following are five major features of purchasing a healthcare plan:

1. Coverage against medical expenses

The main reason for medical care insurance is to receive the best health care without any strain on finances. Health insurance plans offer protection against high medical costs. It covers hospitalization expenses, day care procedures, domiciliary expenses, and ambulance charges, besides many others. You might, therefore, concentrate on your speedy recovery rather than worrying about such high costs.

Choose medical health insurance. Stethoscope, paper heart and silhouette of family on grey wooden background top view

2. Coverage against critical illnesses

Insurance providers nowadays offer critical illness insurance, either as a standalone plan or as a rider. This insurance coverage provides coverage against life-threatening diseases such as kidney failure, bone marrow transplant, stroke, and lack of limbs, amongst others. Upon diagnosis of the critical illness from the predetermined set of your policy, you have entitlement to get a lump sum amount. This amount enable you to meet your illness-related treatment costs, daily expenses, and every other financial obligations. Visit: Careshield Life for more details

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3. Cashless claim benefit

Many insurance agencies offer cashless claim facility. In this arrangement, there is no need to make any out-of-pocket payments. The hospitalization expenses are settled between your insurer and the hospital. To avail of this benefit, it is imperative to get admitted at the insurer’s network hospitals. You might fill out a pre-authorization form and display your wellbeing insurance card to enjoy the cashless facility.

4. Additional protection in addition to your employer cover

Many organizations cover their employees with a group insurance coverage. However, such policies aren’t tailor-made based on the needs of each individual. Besides, you might be left uninsured in case there is lack of job or change in employment. To be able to protect yourself against this event, buy a health cover individually.

5. Tax benefits

Healthcare plans provide tax benefits. Premiums paid towards your wellbeing care policy are eligible for tax deductions under Section 80D of the TAX Act, 1961. The quantum of deduction is really as under:

In case there is the average person, Rs. 25,000 for himself and his family
If individual or spouse is 60 years old or more the deduction available is Rs 50,000
Yet another deduction for insurance of parents (parent or both, whether dependent or not) is open to the extent of Rs. 25,000 if significantly less than 60 years old and Rs 50,000 if parents are 60 years old or even more.
For uninsured super older persons (80 years old or even more) medical expenditure incurred up to Rs 50,000 shall be allowed
A deduction of Rs. 5000 will be allowed under this section for payment of preventive health check-up of either the individual himself or his members of the family which include spouse, parents and dependent children.This deduction is NOT as well as the deduction of Rs.25000/50000 stated above, but is included in these deduction
Keep these advantages at heart and choose from numerous medical care insurance plans available for sale. Based on your individual needs and requirements, choose the best plan , nor lose out on the possibility to enjoy each one of these benefits.

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