The Covid-19 Pandemic has taught us all the importance of health insurance. People end up with no savings in case of medical emergency if they do no have a Health Insurance Policy. The cost of medicines and medical treatments is increasing at an alarming rate and therefore it is imperative that one should have Health insurance. A medical emergency can strike at any point of time and therefore even the NRI’s should have a Health Insurance. NRI’s often have a health cover in their country of residence, however if they regularly visit India then it is advisable that they have a health insurance policy in India to secure themselves from any medical emergencies. A health insurance policy extends coverage against medical expenses incurred owing to accidents, illness or injury. An individual can avail such a policy against monthly or annual premium payments, for a specified tenure.During this policy period, if an insured meet with an accident or is diagnosed with a severe ailment, the expenses incurred for treatment purposes are borne by the insurance company.
Can NRI take life insurance?
NRIs can also take life insurance if the terms and conditions of the insurance company are fulfilled.
Various Types Of Health Insurance:
Why do you need health Insurance?
A Best health/medical insurance plan should have the following features
INDIVIDUAL HEALTH INSURANCE
FLOATER HEALTH INSURANCE
GROUP HEALTH INSURANCE
PERSONAL ACCIDENT INSURANCE
CRITICAL ILLNESS INSURANCE
LONG TERM HEALTH INSURANCE
SUPER TOP-UP INSURANCE
PET DOG INSURANCE:
The health insurance is a type of insurance that covers your medical expenses. A health insurance policy is a contract between an insurer and an individual/group in which the insurer agrees to provide specified health insurance cover at a particular “premium”.
The commonest form of health insurance policies in India covers the expenses incurred on Hospitalization, though a variety of products are now available which offer a range of health covers, depending on the need and choice of the insured. The health insurer usually provides either direct payment to the hospital (cashless facility) or reimburses the expenses associated with illnesses and injuries or disburses a fixed benefit on occurrence of an illness. The type and amount of health care costs that will be covered by the health plan are specified in advance.
All of us should buy health insurance and for all members of our family, according to our needs. Buying health insurance protects us from the sudden, unexpected costs of hospitalization (or other covered health events, like critical illnesses) which would otherwise make a major dent into household savings or even lead to indebtedness. Each of us is exposed to various health hazards and a medical emergency can strike anyone of us without any prior warning. Healthcare is increasingly expensive, with technological advances, new procedures, and more effective medicines that have also driven up the costs of healthcare. While these high treatment expenses may be beyond the reach of many, taking the security of health insurance is much more affordable.
Insurance companies have tie-up arrangements with several hospitals all over the country as part of their network. Under a health insurance policy offering cashless facility, a policyholder can take treatment in any of the network hospitals without having to pay the hospital bills as the payment is made to the hospital directly by the Third Party Administrator, on behalf of the insurance company. However, expenses beyond the limits or sub-limits allowed by the insurance policy or expenses not covered under the policy have to be settled by you directly with the hospital. Cashless facility, however, is not available if you take treatment in a hospital that is not in the network.