Best Health Insurance Plans: 5 Things To Consider While Purchasing Medical Health Insurance During A Pandemic
India still has a long way to go in terms of medical insurance, but some are learning about how crucial it can be to our well-being. As more people become insured, more medical insurance companies offer various plans. Often, this makes it difficult for the customer to decide what to buy. It is still widely misunderstood how health insurance works.
Making an informed decision requires understanding your health insurance policy. Health insurance may seem simple, but there is much to learn. Here is a brief overview of health insurance.
Health insurance coverage
- International Coverage
Some insurance companies offer their customers international health coverage, which may surprise you. A healthcare insurance company compensates an insured for medical expenses. To determine if your policy includes international coverage, make sure you check the terms and conditions of the policy in advance.
2. Alternative Treatments
Many people choose to use alternative treatments such as AYUSH, i.e. Yoga, Unani, Siddha, and Homeopathy, and many health insurance companies also cover the cost of such treatments.
3. Free check-ups
Most health insurance companies provide their clients with a free annual medical examination. Your insurance plan will also depend on the type of coverage you choose as well as how long you have gone without filing a claim. When purchasing your medical insurance policy, ensure that you check the same.
4. Tax Benefits
The premiums paid for private health insurance are excluded from tax deductions under Section 80D of the Income Tax Act up to a total of INR 25,000 for yourself, your spouse, and your children, but that's not all.
Moreover, you can claim a tax benefit on the health insurance premium you pay for your parents. You can receive up to INR 50,000 in compensation depending on your parents' age.
5. No Claim Bonuses
Sometimes you may not have to file a claim to your medical insurance in certain years if you are lucky. During these years, your health insurer may offer you some benefit in the form of a discount on your upcoming policy premium or by increasing your coverage.
6. Maternity and Child Coverage
There are maternity Best Health Insurance Plans that cover newborns for a specific number of days in some cases, while others require maternity insurance purchased separately. These plans cover all the hospitalization expenses for your infant.
7. Advanced Treatments
The technology within medical sciences has enabled more and more people to undergo robotic surgery thanks to the advancements in the field. The good news is that many health insurance companies cover these procedures according to the guidelines issued by the IRDAI.
8. Restore Facility
A few medical health insurance companies offer the possibility of restoring the insured amount. A company can reinstate the full sum insured once a year if you have exhausted your sum insured after treatment. Please consult your insurance provider to determine whether this benefit is available to you.
You can, however, also choose to add more coverage to your health insurance coverage if you think it is not sufficient. Super Top up Plans provides more benefits than your regular plan at a lower cost than another plan.
The need for health insurance today is an absolute necessity in India. Before investing your money, research the plan carefully and find out all the details. Comparing different health insurance policies will allow you to choose the most appropriate policy.
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