Health Insurance- How It's An Absolute Blessing!
Published On 19 Apr 2019 By Yamini Sharma
Investing in Health Insurance Plan - How It’s a Priority!
Health is not valued till sickness comes - words of the famous English churchman and historian, Thomas Fuller suit the mindset of us, Indians, perfectly!
For some reason, we tend to put our health on the back seat and let other concerns take over our minds. As a result, we are left with no choice, but bear the consequences of our deteriorating health at some point. Then, what adds to the problem is the unthinkable cost of medical treatment that one has to bear in order to regain their overall health. Avoiding mental and financial adversity at that time doesn’t remain an option. However, emphasizing health and well-being, right from the start, saves one from all the hassle.
So, what’s the best solution? Well, it’s Health Insurance!
Until now, if you have not taken health insurance, opt for it so that you can get the best medical care when the time arrives. Before your health starts deteriorating, choose the best possible health insurance plan so that even in the case of a financial emergency, you have your peace of mind intact.
Needless to say, investing in a health insurance plan will come across as a savior in times of need.
Nonetheless, here are a few aspects for you to know why health insurance is actually a blessing in disguise:-
- Financial Protection
Falling ill may not be in our hands, but not failing to take care of our health care expenses is definitely we can manage. How? Well, it is by opting for health insurance that we can strengthen our financial planning and prevent rising medical costs from breaking our bank. In short, in case of an emergency, you won’t have to sacrifice your savings. Your health insurance plan would save you from spending your hard-earned money in one go.
- Critical Illness Cover
Cancer, stroke, kidney failure, paralysis, heart attack are a few critical illness types that usually get overlooked while making a health insurance plan choice. Critical illness cover is a fixed benefit plan that offers a lump sum cash payment upon diagnosis of any critical illnesses. Irrespective of the amount spent on treatment, a lump sum amount is paid to the insured, which can be used for recuperation, fund rehabilitation, lifestyle adjustment, etc. All in all, with critical illness cover, you can save your lifetime savings from being wiped out even in the hardest times.
- Coverage of Pre and Post Hospitalization Expenses
A good health insurance policy helps you take care of not only the mainstream medical costs, but also the expenses related to OPD, diagnostic test expenses, and other expenses that arise with the passage of time. What else can you ask for when you don’t have to worry about pre and post hospitalization expenses, which otherwise become a cause of immense concern in no time?
- Income Tax Advantages
Health insurance comes across as an efficient tax saving tool. If considering health insurance, note that the premium paid for health insurance provides a tax benefit by reducing the taxable income, thereby minimizing the tax liability as well. So, when you insure your or your parents’ health, you gain not just one, but two benefits. Isn’t that great?
The health care system in India has escalated to a new level in the past few years. Even, elements such as ambulance coverage, coverage for day-care surgeries, coverage for health check-up and vaccination expenses come under health insurance in today’s time. These additional benefits add to the worth of health insurance in a significant manner.
Now that you are aware of the benefits of health insurance plans, remember that health insurance is a significant investment that you will make in your lifetime.
So, stop fearing from health insurance! Instead, take out time from your busy schedule and direct it towards choosing a health insurance plan that fits your requirements in the most perfect manner.
By investing in a health insurance plan, you can save yourself from the additional financial burden in the adverse times and find yourself capable of affording the best medical care without feeling stressed for even a minute.