Categorized | Health Insurance

why health insurance is important

Health is wealth, and a healthy mind and a healthy body are what we all need to keep us going. However, in today’s fast-paced world of stress and anxiety, it is a real challenge to stay healthy. Even though various things have been invented to make our lives more comfortable, health issues have only increased. Without good health you end up spending your hard earned money on doctor’s visits and medicines.
 
Healthy eating at regular times, regular exercises, a positive attitude, and keeping away from bad habits such as smoking and drinking are very important in maintaining good health. However, unhealthy eating habits, little or no exercise and high stress levels are the realities of life these days. To add to your health woes, doctors’ fees, costs of medicines and treatment have also gone up many times.

Why Health Insurance

The cost of treatment for many illnesses runs into lakhs of rupees. In today’s life of increased stress, sicknesses and accidents, the most important thing you and your family need is something that will shield you financially during crisis situations. A Health Insurance Policy is the perfect life-saver tool that will protect you and your family from financial stress during any medical emergency.
 
In the absence of health cover, you will end up paying huge sums of money from your side. A mediclaim  on the other hand will ensure that the cost of your treatment is paid for by the insurance company. When you get health insurance, you will be Insured for a sum of money, called the sum assured. You then pay an amount every month, called the insurance premium, to carry on your insurance policy to the stipulated term.

Health Insurance Benefits

Insurance companies provide various benefits with every Mediclaim policy. Here is what most companies offer, with slight variations:

•Cashless Hospitalization

Under this scheme, your hospital bill gets directly settled by the insurance company. Using your health card given by the company, you can get this benefit from any of the company’s network hospitals.
 
•Other medical expenses

Expenses such as doctor’s consultation fees, surgeon’s fees, anesthetist’s fees, Dialysis, Chemotherapy and Radiotherapy expenses, ICU charges etc. are covered.

•Room and Ambulances Charges

Expenses such as ambulance charges, room charges etc are covered but within certain limits.

•Pre and post-hospitalization expenses

These include expenses 30 days before and 60 days after Hospitalization recovery expenses.

•Travel and Food expenses

Some companies also pay you the expenses incurred for travelling between your home and the hospital, as well as the food and refreshments expenses.

•Treatment from Home/Domiciliary  Expenses

Treatment taken at home on the doctor’s advice is typically covered as the patient may not be able to visit a hospital. You must submit the bills, and the amount provided is typically a percentage of the sum insured.

•Alternative Treatment Expenses

Many companies cover the expenses incurred for non-allopathic forms of treatment. Companies may provide this facility only if the treatment is carried out at a government-recognized hospital or institution.

As none of us can be totally disease free all the time, and are going to be sick and in poor health sometime or the other, a health insurance cover will provide an enormous help in reducing suffering by providing the necessary finances. You should ideally buy health insurance when you are young and healthy. This is because as you grow older, it becomes more and more difficult to get health cover because of your deteriorating health and increased chances of illnesses.