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5 Main Reasons Why a Health Insurance Policy is Important

01 June 2022, 11:21 PM

It started with just a minor fall. Heena was entering her building with two shopping bags when she slipped on some water, fell and twisted her ankle. What followed were x-rays, surgeries, braces, physiotherapy and finally, long-term domiciliary care. It took Heena more than four months to get back on her feet, and when she did, she was poorer by INR 5 lakhs. 

Unfortunately, the health care expenses in our country are becoming more and more expensive with every passing day. Fortunately, there are some excellent health insurance plans on offer these days. These plans allow you to stay covered in a comprehensive manner and make expensive health care affordable. This is the main reason why you need to invest in health insurance. What are the other reasons?  Let’s find out.

The Top Reasons Why You Need Health Insurance 

Here are some logical reasons why you must get a health insurance plan for yourself, as well as all the members of your family:

  1. Comprehensive Health Cover - A health insurance plan offers a very wholesome health cover. From covering multiple ailments to offering pre and post-hospital care, you can expect very comprehensive coverage when you get a good health insurance policy. Some of the benefits are:
    • In-patient Care - If you and your family members require hospitalisation for any reason related to injury, accident, surgery, etc all the insurance provider will offer compensation for the charges incurred. You can also get compensation for ICU charges, ambulance charges, etc. Overall, you get a comprehensive health cover when you buy a good health insurance policy and this is why you need such a plan.
    • Domiciliary Care - At times, you need to recover at home after an injury, or just require frequent healthcare at home due to an ongoing illness. You can get the expenses reimbursed under the domiciliary care coverage provided in the health insurance plan.
    • OPD and Diagnostic Cover - Next, you get all the OPD and diagnostic test expenses covered and this proves to be a huge benefit. Your illnesses are diagnosed and get on track to getting the best treatment. Consequently, you recover faster.
    • Daycare Expenses - Certain treatments and procedures require a hospital stay of just a few hours. These are called daycare procedures and are always covered under good health insurance policies.
    • Cover for Specific Conditions - These days, you get specialised medical insurance plans that offer protection against specific health conditions such as cancer, diabetes, etc. If you are prone to such ailments, having such a health insurance cover proves to be helpful.
    • Cover for the Entire Family - And finally, all the benefits mentioned above are available for the entire family, making family health insurance policy a must for modern-day lives.
  2. Emergency Assistance -
    Another reason why a medical insurance plan is important is that it assists you if there is a medical emergency. Whether you have a medical emergency anywhere in India or even abroad, you can get assisted to reach the nearest hospital and seek treatment. This cover is available with most of the top-rated health insurance plans.
  3. Access to Best Facilities - 
    As stated, health care expenses have skyrocketed these days. As a result, it becomes difficult for many people to afford the top hospitals situated in big cities. But if you have a health insurance cover, you won't have to think twice before getting admitted at the best hospital and seek treatment from the best doctors and recover in a good and peaceful manner. In the absence of a health plan, you have to settle for some substandard facilities where you won't even receive satisfactory treatment.
  4. Tax Benefits - 
    This is an added beneficial reason why you may opt for health insurance. There are many tax benefits available on health insurance. For starters, you get an income tax rebate on the health insurance premium that you pay every year. This provision is available under Section 80D. Then, if you opt for the preventive health check-up, you can further save a tax amount of up to INR 5,000 a year within the total limit of INR 25,000 per year. These are some of the very handy tax benefits available on your health insurance policy.
    • Easy to Have - 
      A huge benefit that you get as a modern-day health insurance customer is the ease of access. The IRDA as well as the government have actively started persuading people to get health insurance, simply because it is an important thing to have. As a result, the plans have been made more attractive, affordable and easy to purchase. There are many health insurance companies as well that sell a vast number of policies. To stay ahead in the competition, they offer added benefits, discounts, etc.

As a customer, you only stand to benefit from all this. So grab these opportunities with both   hands and get a good cashless health insurance plan. The plans are available online these days, and since many plans do not even ask for pre-policy screenings, you can get them instantly with the click of a few buttons. The health insurance claim process has also become simplified, making it all the more convenient for you.

The Bottom Line

There are innumerable reasons why a health insurance policy is important for you. As you saw from the points mentioned above, health insurance proves to be beneficial in several ways. So go ahead and get a good and comprehensive policy for you and your family members and stay protected in the best and safest possible manner.

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