It is very important to stay financially stable and it is one of the basic desires of everyone that they want to fulfill. However, the costs of medical care and medicine themselves are rising day by day, the treatments of any serious illness will drain all your savings in a blink of an eye. It can be very challenging for some people to arrange an appropriate amount to pay the medical bills. In times of emergency, health insurance can help you a lot.
There are different types of health insurance plans available in India. You can choose according to your preference and needs. There are a whole lot of insurance companies in India among which you can choose. Along with the big brands, there are new emerging companies offering the best deals you can try.
Different types of plans
There are basically two types of plans available in India- one is indemnity plan and the other is definite benefit plans. The indemnity plans cover the hospital bills of the person by providing some assurance to the company and on the other hand, definite benefit plans pay a huge amount of payment after the detection of serious illness. The sub-division of an indemnity plan and definite benefit plan are as follows:
Indemnity plan
- Â Â Â Â Individual
- Â Â Â Â Senior citizen
- Â Â Â Â United linked health plans
- Â Â Â Â Family floater
- Â Â Â Â Mediclaim
Definite benefit plans
- Â Â Â Â personal accident plans
- Â Â Â Â critical illness plan
- Â Â Â Â hospitalization cash benefit plans
The top reason to do health insurance now
The very basic part of having health insurance is to secure your savings in the future or else all your savings will drain out during the time of emergencies. Health insurance plans will allow you to stay stable in the future. Apart from saving there are few more benefits of health insurance:
-     Secure your family’s health – It is very important to take care of your family, parents, or loved ones and with the help of the family foster plan, you can protect the health of your family. Froster health insurance plan covers all types of medical treatments.
-      The rising cost of medical care – The medical cost is at its peak and there chances that you might not be able to afford the funds at the time of emergencies. But with the help of health insurance, you can afford quality treatment from the best hospital in your locality. These network hospitals can provide you cashless treatments.
-     Changes in lifestyles – The lifestyle is the major cause of all the health-related issues, at some point, it can trigger other serious health issues including kidney failure, liver problem, cancer and so many more. These health conditions can develop from a lousy lifestyle that includes the stress of work, consumption of junk foods, environmental changes, consumption of alcohol or smoking, etc.
Conclusion
There are a lot of benefits of health insurance and according to the 80D of the income tax act, you can easily avail the tax benefits. According to this law, you can aid tax benefits on all the medical expenses of the aged people or the people who are 60 above.Â
