What is Health Insurance

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 takes a toll on our bodies. We begin to fall ill more often as our immunity is compromised, and we are always 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.

Why do we need health insurance?

Adding to these woes mentioned above is the fact that you might not be adequately protected against the financial pitfalls of ill health. In today's times, treatment and hospitalisation services are extremely expensive in India. If not for proper planning and savings, these medical expenses can upset your budget for months to come.

This is where health insurance swoops into the picture. When a person who opts for health insurance, he need not have to worry about the financial repercussions of poor health as the health insurance policies will take care of those financial burdens during the time of need. All you will have to worry about is proper treatments and getting well soon.

Amongst the various healthcare plans available, you can opt for the one that suits best to your needs and 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 healthcare plans and products customised to suit your 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 in India is the family floater plan that includes the policyholder, 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.

One of the most important healthcare facilities available today is health insurance with OPD coverage. This facility allows the insured to claim those expenses that are incurred besides hospitalisation. Companies in India can also buy group health insurance policies. Many large-sized businesses in India today offer health coverage 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 a critical illness insurance plan. It takes care of the high costs of treating a severe disease like cancer, heart attack and more, from diagnosis to postoperative treatment, which may otherwise cause a significant dip in your savings, if not for health insurance plans.

Advantages of Health insurance

The benefits of health insurance are many. Primary among these are their propensity to take care of the family expenses even when the policyholder 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.

Some of the noteworthy features of health insurance plans include payment for the costs associated with hiring an ambulance, daily cash spends and postoperative 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.

With so many advantages of health insurance plans on your side, you would be in a better place to be able to provide a more secure future for yourself and your loved ones.