Today’s lifestyle has witnessed a massive shift compared to our ancestors from not more than two generations ago. Even the eating habits of most people have gone for a toss today. Awareness on this is spreading but a huge number of people still suffer from diabetes, obesity, and other health-related issues. One solution to protect yourself and your family from diagnoses such as these is to purchase health insurance. If you don’t buy one, the treatment costs for illnesses will probably eat into your savings.
What is Health Insurance?
In return for a premium amount, as goes with all insurance, the insurance provider covers your health from certain events and illnesses and bears the cost of the treatment. However, a health insurance policy is not one without caveats. Hence, it is prudent that you know your requirements and, more importantly, convey them to the insurer. Your policy document wordings will depend on this and you do not want even the smallest error.
It is important to remember the terms and conditions of your policy as it would be helpful in the event of a claim.
Importance of Health Insurance Policy
Expenses are rising with each passing day. Right from grocery shopping, to paying your children’s school or college fees, or meeting any other household costs, expenses are generally way too much to handle. Add an illness on top of this and the atmosphere becomes a little tense. For most, the reason for this stress is the financial burden that comes with illnesses.
It is circumstances such as these that make it essential for one to have health insurance. It not only covers medical expenses that arise from an illness, but also takes care of ambulance charges, surgery costs, pre- as well as post-hospitalization charges, diagnostic tests, etc. All you have to do is pay the premiums on time and not let the policy lapse.
Choosing the right health plan is essential. Analyze your requirements and then go about looking for the perfect plan. Given below are types of health insurance plans you can choose from:
- Family Floater
As the name suggests, a family floater covers all your family members under one plan. It is beneficial because the fixed sum assured can be used by a single member if needed or it can be used between all the family members.
- Senior Citizen
Medical requirements for older people can be more than youngsters. As you grow older, you get more susceptible to ailments and need more medical attention. A senior citizen plan is customized accordingly.
- Individual Health Plan
If you are just looking for a health insurance plan for yourself, go with an individual plan. It will not only cover pre- and post-hospitalization charges, but also other medical bills.
- Critical Illness
A basic health plan won’t protect you from serious diseases. If there are any illnesses in your family tree or if you just wish to stay protected from major diseases, then opting for a critical illness insurance plan would be a wise decision.
- Personal Accident Cover
Under this cover, compensation is provided to the insured or their family in the case of an accident that causes partial/permanent disability or death.
There are two ways of purchasing health insurance plans. You can follow the traditional method and visit the branch office of your preferred insurer and buy the policy physically. Alternatively, you can follow the modern and simple method of purchasing an insurance policy online by visiting the insurer’s website and providing the necessary details to get a quote.
To get the best deals, compare multiple policies online before purchasing. Also, calculate the premium using the health insurance premium calculator. This way, you don’t have to worry about bearing the medical expenses on your own. With the right health insurance policy, your life will become so much easier than it ever was.