Among the many things that are unpredictable such as the weather; the future or the next world cup winner; the most unpredictable of them is life. The only certainty life gives is about the uncertainty that it brings along. This means the health of every living being is under constant threat.
Medical calamities can strike anytime and one must be fully prepared to guard themselves against any potential threats to one’s health. Health is a priced possession and health insurance provides the key to keep this valuable possession safe even in the future.
Health Insurance the key to a secure future
Before understanding why a health insurance is an essential investment, we must first understand what a health insurance means.
A health insurance covers the medical and surgical costs of a policy holder. Depending upon the terms of the insurance that has been opted for; a health insurance secures a person against a wide variety of diseases and surgeries.
A health insurance policy essentially enables a person to get a cashless treatment or reimbursement when need be and saves one from the last minute stress of arranging funds to get treated during an emergency.
Benefits of getting insured
Health insurance is of many types, but all insurance policies provide certain benefits that make buying an insurance policy essential as well as beneficial. The need to buy a certain kind of health insurance policy is well known. Everyone wants a secure future for themselves and their families.
Specifically in developing countries like India, health care facilities are becoming more expensive by the day. This is where the role of a health insurance policy comes into light. Apart from the many benefits that different health insurance policies assure, the most important benefit is offering hassle-free treatment during the difficult time of a medical emergency.
Some of the highlight benefits that insurance policy provides include:
- Caters to all individuals and their different requirements
Insurance policies are user-friendly i.e. they are custom tailored to cater to the requirements of every individual. Health insurers realise that the requirements in terms of insurance for a senior citizen will be completely different from that of a new-born or that of a family person. Thus, health insurance can be group or individual or senior citizen oriented or for an entire family. This provides the policy holder to choose from a wide variety of policies and opt for the one that best suits him.
- Pre and Post hospitalisation cover
Insurance policies not only help in burden free treatment during the period of hospitalisation but also there are many polices that provide cover for upto 30-60 days before or after you are hospitalise. This is a huge advantage as it allows the patient with ample time to get back into their routine life without worrying about the medical costs before or after hospitalisation.
- No claim bonus benefits
Health insurance is indeed a smart investment because not only does it secure your future and relieve you from the stress of health related expenses but also provides you with a bonus in case you don’t claim your insurance for an entire year. The bonus depends upon the company and type of insurance policy.
- Tax benefits
Investing in a health insurance helps you save on tax! Yes you read it right. One of the most lucrative reasons offered by investment in a health insurance policy is that it helps you save on the income tax you pay. The tax benefit is not just limited to individual’s health insurance but also extends to health insurance policy bought for parents, dependent children and spouse.
- Critical Illness Coverage
Serious illnesses such as Cancer, Kidney Failure, Organ Transplant that involve huge costs for treatment are also covered under health insurance policy, thus ensuring a secure future for you and your loved ones.
Additional benefits to consider
In addition to these benefits that health insurance policies offer, one must also consider the intangible benefits that it provides. Health insurance policies not only secure the future but also help us to stay healthy by enabling us to live a stress free life that is secured and also by reducing the mental pressure that is exerted upon us due to the uncertain nature of life and health.
Some of the intangible benefits of investing in an health insurance policy that have a positive impact on our health include:
- Ensures mental peace and well-being
A health insurance policy helps reduce stress by securing your future and that of your loved ones. A healthy mind will consequentially result in a healthy body and a positive lifestyle.
- Avail the benefits and facilities for a lifetime
Health insurance policies are renewable which means a secure future for not just a year but for a lifetime. One can renew their health insurance policy every year and enjoy the benefits and facilities forever.
- Portability and Flexibility in Insurance policy
Health insurance policies are flexible and portable in the sense that you can transfer your policy from one insurance company to another. For instance, If you like the new health insurance policy of say, Apollo Munich, you can switch from your current company to Apollo Munich.
- Cashless Hospitalisation
You are not required to carry or arrange for large sums of cash during hospitalisaton. Health Insurance policy helps you to get hassle free and cashless hospitalisation by simply sharing your insurance number with the hospital. The rest of the hassle will be taken care of by your health insurance company.
Investment in health insurance can therefore be termed as a smart investment. Health is a person’s greatest wealth and you must never compromise on safeguarding it. Medical calamities can strike anytime hence it is always better to take precautions and secure your future by buying a health insurance policy today.