The concept of 'good health' has been hardwired into our psyches down the ages.
Ancient yogis and healers preached the virtues of nutritious food, enough rest and
sufficient exercise to all. Realms upon realms of texts point to the use of herbs
and fresh produce in Indian medicine. By these parameters, we should be a nation
in excellent health.
But we are not. The stress of making a living, battling high costs and inflation
take a toll on our bodies. We begin to fall ill more often as our immunity is compromised
and we are constantly anxious. Lack of sleep and junk food contribute to our ill
health. There comes a time when one needs sustained treatment and even hospitalisation
to get better.
Taking health insurance can help
Adding to these woes is the fact that you may be insufficiently protected against
the financial pitfalls of ill health. Getting treatment and undergoing hospitalisation
are extremely expensive in India. These can upset your budget for months to come.
On the contrary, a person who takes health insurance need not worry about the financial
repercussions of poor health. But taking health insurance promises complete peace
of mind in today's day and age.
Types of health insurance in India
We are fortunate to have a well-developed insurance universe that offers several
excellent products customised to suit many needs. Accordingly, you will find a one-policy-fits-all
family insurance approach working as smoothly as individual insurance does.
The most popular category of plans among the types of health insurance in India
is the family floater plan that includes the policy holder, his partner and dependent
parents and children. There is a range of family insurance plans available in India,
with varying sum assured and benefits. Another category is the individual mediclaim,
while still another is cashless mediclaim for both individuals and families.
Companies in India can also buy group health insurance policies. Many large sized
businesses in India today offer health cover to their employees – this coverage
is often extended to employees' family members as well.
A significant addition to the health insurance spectrum in India is the critical
illness insurance plan. It takes care of the high costs of treating a serious disease
like cancer, from diagnosis to post-operative treatment.
Health insurance benefits
The benefits of health insurance are many. Primary among
these are their propensity to take care of the family expenses even when the policy
holder is absent in the future.
A key benefit of health insurance is that it gives one the confidence to seek medical
treatment in a timely fashion. Too often, people are sceptical about going to the
doctor because they fear they will have to undergo expensive testing and surgeries.
Many excellent health insurance policies also pay for the costs associated with
hiring an ambulance, daily cash spends and post-operative therapy. The cashless
medical plans are also a boon since they pay for the policy holder's treatment and
hospitalisation without the holder having to shell out a single rupee for the same.
Meanwhile, you can calculate your future needs using a retirement calculator. This
will help you gauge how much you need to spend via premiums for your retirement
plan, so that you can also assess how much corpus you can expect to get at the time
of maturity of the plan. Both these policies – child future plan and the retirement
plan – also safeguard your loved ones in case of your unfortunate demise.
Now isn't that what your role as a protector really is all about?