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Health insurance benefits and coverage

By Chris Luke Subscribe to RSS | April 24th 2012 | Views:
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In an uncertain environment and with increasing medical expenses, buying health insurance is a must for all Indians. Are you scared to pay hefty medical bills to treat a sudden illness, injury or hospitalization? It would definitely disturb your finances! Instead with a health insurance policy to your name, you would be able to manage any sudden medical bills and settle the hospital expenses without disturbing your personal finances. With different kinds of health insurance policies available in the Indian insurance segment, the choice is yours. Mediclaim policies by general insurance companies, hospitalization cash policy by life insurers and critical illness plans by life insurers, are three of the categories of medical insurance available in India.

Health insurance coverage and benefits

• Cashless hospitalization is generally offered by all insurers through their medical insurance policies

• Ambulance charges are covered up to an amount of Rs.1000

• Pre- and post-hospitalization expenses (30 days before hospitalization and 60 days after hospitalization) are included in the policy

• Day care expenses like dialysis, chemotherapy and radiotherapy are covered

• Many medical insurance policies cover ICU charges, surgeon fees, doctor’s consultation charges, anesthetist’s charges, surgical materials and other diagnostic costs

• Room and boarding costs are covered up to certain limits as per the policy

Tips to buy a health insurance

Here are some of the points that you can consider before buying a health insurance policy that suits you.

• Reading the policy details, exclusions, inclusions, coverage, and the limitations before buying any policy is a must.

• If you want to buy a critical illness policy, keeping a track of what illnesses are covered under the policy would help you make the right decision.

• Note down the number of hospitals that are covered by the insurer through their network.

Availing tax benefits

Health insurance products offer some exciting tax benefits to the policy holder. Tax benefits come under the income tax act 1961, section 80 D. Premium under the health insurance policy holds tax deduction up to Rs.15,000 for your dependent children and spouse. For your parents, another claim can be made of Rs.15,000. The deductions can be up to Rs.20,000 for senior citizens of the age 65 years of above.

By studying all different types, you can find out which one is the best health insurance that suits you requirements. From individual medical insurance to group insurance, the policies are categorized in many types. If you want to save some cash towards medical insurance, buying them online would do the trick. Buying a policy at discounted rates is possible through online portals of the insurers or agents.

Health insurance policies are a boon for all Indians, securing life at the earliest would reduce the future worries. Spending money, all of a sudden, on illness or health issues will spoil your finances. With a rise in diseases and seasonal illness in India, the residents have understood the importance of investing in health insurance and life insurance policies. Today, health insurance is not a luxury, but a necessity!

Chris Luke - About Author:
Chris suggests that health insurance plans are a must in India because of the unexpected change in climatic conditions and other factors. Chris highly recommends AEGON Religare Life Insurance for affordable health plans and great customer support service. For more information about them, visit website aegonreligare.com.

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