HEALTH INSURANCE PLANS

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WHAT IS HEALTH INSURANCE?

Health Insurance is medical coverage that helps you meet your medical expenses by offering financial assistance. Due to the high cost of hospitalization expenses, it is important to have a health insurance plan in place. In the current pandemic situation, health insurance plays a vital role in safeguarding your finances. You can buy a health insurance plan for your family and avail the below mentioned benefits & coverage.

Medical Expenses
ICU Charges
Day Care Procedures
Cost of Hospitalization
Ambulance Cost
AYUSH Benefit

TYPES OF HEALTH INSURANCE

Do I Really Need a Health Insurance Plan?

The answer is a clear Yes, because most of us may require medical treatment at some point of time in life. Hence, it is important to have a good health insurance plan that caters to rising medical expenses. To meet these expenses and avail quality healthcare facilities, it is important to have a comprehensive health insurance cover. Take a look at the key reasons that makes health insurance a must-have.

Beat Medical Inflation
Get Access to Specialised Treatments
Save Tax up to 75,000
Avail Quality Healthcare Facilities
Avail Cashless Hospitalisation Facility
Get Preventive Health Check-up Coupons

How to choose the Right Health Insurance Plan?

Every time you look for a health insurance plan, you wonder which is the best health insurance plan? How to choose the best health plan online? What coverage should it have? To answer all your queries let’s read more to decode the hacks to get the right health insurance plan.
01 Get Yourself Adequate Sum Insured
If you are residing in the metro cities then the cost of treatment is high hence for an individual your sum insured should ideally range between 10 lacs to 20 lacs. If you are looking for a family cover to insure your spouse and kids a sum insured that ranges between 15 lacs to 20 lacs suits best on floater basis. It should be adequate to cover more than one hospitalisation that may happen in a year.
02 No Sub-Limits Help
Usually your medical expenses depend upon your room type and disease. It is recommended to buy a health insurance plan that does not have sub-limits on hospital room rent so that you can choose the hospital room as per your comfort. Most of our policies also don’t imply disease sublimit; this is also an important factor one must keep in mind.
03 Vast Network Of Hospitals
Always check if the insurance company has a wide list of network hospitals. If the nearest hospital or medical facility is listed by the insurance company it will help you avail cashless treatment. In the Health Insurance Industry, They have a huge network of 10,000+ cashless network hospitals all over India.
04 Check Waiting Periods
Your health insurance plan does not come into action while you are waiting period is not completed. Always check health insurance policies with lower waiting periods for pre-existing ailments and maternity benefits before buying a health insurance plan online.
05 Affordability
If you wish to pay low premiums for a health insurance plan then co-pay your hospital bills. You end up sharing the medical expenses with your health insurer hence you do not have to pay a heavy premium.
06 Trusted Brand
Always choose a health insurance company that has a good reputation in the market. You must also look at the customer base and claim paying ability to know if the brand will honor the claims that you may make in future.

Why Buy Health Insurance Online?

Convenience
Gone are the days when you wait for someone to come and explain the policy to make a buying decision. With digital trends taking over the world, buying a health insurance plan from anywhere across the globe helps you in saving time, energy, and effort.
Secured Payment Modes
You do not have to pay premiums in cash or cheque for your health insurance plan! Go Digital! Simply use your credit/debit card or net banking services to make payments online through multiple secured payment modes.
Instant Quotes & Policy Issuance
You can instantly calculate the premium, add or remove members, customize plans, and check coverage online at your fingertips to buy a health insurance plan online.
What You See is What You Get
You no longer have to wait for the physical health insurance policy documents. Your policy PDF copy comes right into your mailbox as soon as you pay the premium online and you get your policy within a few seconds.

Save Tax with Health Insurance Policy

Dual Benefit
A health insurance plan not only covers your medical expenses but also offers tax benefits so that you can save upto 75,000^ under Section 80D of Income Tax Act 1961. It plays an important role in planning your finances.
Tax deduction based on medical insurance premium paid
By getting yourself a health insurance plan, you can get a deduction of up to 25,000 per budgetary year for medical insurance premium under Section 80D of Income Tax Act 1961.
Deduction on medical insurance premium paid for parents
If you are paying the medical insurance premium for parents, then you can also claim an additional deduction of up to 25,000 every budgetary year. If your parents or either of them is a senior citizen, then this limit can go up to 30,000.
Deduction on preventive health check-ups
You can also claim tax benefits on preventive health check-ups annually under Section 80D of the Income Tax Act. You can claim up to 5,000 every budgetary year as expenses incurred for preventive health check-ups.

Please note that the above-mentioned benefits are as per the current tax laws prevailing in the country. Your tax benefits may change subject to tax laws. It is advisable to reconfirm the same with your tax consultant. This is independent of your health insurance premium value.