pays for your hospital bills for diagnostics, surgery etc.
We all make every effort to keep our family members happy and to provide them the best in life. However, it becomes impossible to maintain this status quo in case of an emergency situation, like sickness or an accident. We dread the thought of how the family will cope with it, how we will meet the medical expenses and so on.
In case of a medical emergency that requires hospitalization, the best way of help is a Health Insurance policy. It not only provides you financial assistance at the time of any Hospitalization but also protects you from its long Term financial implications. With various health-related problems all around and rising costs of medical facilities these days, a health cover has become very critical for every individual.
In a country like India, people are generally ignorant about the benefits of health insurance, and have a casual attitude towards buying a medical insurance plan for themselves. There many reasons for this kind of attitude. We will discuss them in detail.
Many people are of the opinion that they don’t need health insurance because they are healthy, hail and hearty. However, health problems can occur at any time without prior notice. Also, treatment for some illnesses like Cancer is too expensive. With health insurance you can take care of your medical expenses, even if they are unexpected and sudden.
Many people think that they can pay from their pockets if and when something goes wrong with their health. With rising medical costs one cannot be sure how much the treatment for an ailment will cost. Also, what if you don’t have ready cash in your hand at that time? Hence it is always better to have a health insurance Policy for your entire family.
The other reason for not buying is that a health insurance policy is that you may not have the money to invest in a health insurance policy. Health insurance is normally very expensive. But health cover not only helps you with emergency cash in case of hospitalization but also offers tax benefits.Ignorance and Incorrect Information
There is generally a lack of knowledge regarding the need, benefits and features of health insurance in India. It is always advisable to seek an advice from insurance brokers for unbiased opinion about the insurance companies and the options they offer.
Unlike life insurance, health insurance is one where the money is not returned if you don’t make any claims. You must know this before going in for health insurance. However it provides you with emergency cash and stress-free treatment in case of hospitalization.
In addition, there is a general notion that claims are not paid on time and in full when required by you, if you take a health insurance plan. This is generally not true, and may happen when people ask for claims which are not entitled to be reimbursed. Hence you must read your Mediclaim policy documents properly before going in for any medical insurance.
These days almost every organization provides its employees with health insurance. So you may assume that the company insurance is adequate for the whole family. However, in most cases it is not enough as in India aged parents too are looked after by the family. Hence it is very essential to have a health insurance policy for all the family members apart from your company insurance. You can either opt for a Family Floater Plan which covers the complete family or an individual policy for every member of your family.