Why You Should Buy Government Health Insurance Schemes?
Published On Mar 10, 2021, Updated On May 02, 2021
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Health insurance has become more of a necessity than a luxury nowadays. Emerging as one of the most crucial aspects of our lives, it seeks to cover our medical expenses spread over a wide spectrum. Keeping the sky-high cost of medical treatment in mind, the Government of India has also introduced several health insurance policies that offer financial support and a regular source of income to those in need. However, these schemes are not as advertised as those provided by private insurance providers but their benefits are much more attractive, affordable, and available under fewer restrictions. Busting your myths about government health insurance schemes, this article will help you to understand why it is more profitable to invest in health insurance schemes offered by the Indian government -
Why Should You Buy Government Health Insurance Schemes?
The following are a list of benefits available under government health insurance schemes that articulate the importance of investing in such health schemes in India -
Portable Across The Nation
The first and foremost benefit of investing in a government health insurance scheme is the fact that it is portable across the nation. To elaborate, health insurance schemes sponsored by the central government of India allow anyone to avail of its services across the length and breadth of the country. It does not matter if you are a resident of Mizoram or Rajasthan, you can be a resident Indian citizen in any state or union territory and the facilities that you receive will remain unchanged. It is extremely beneficial for people whose work requires them to travel frequently. They can be assured of complete financial and medical coverage in case of a health emergency, in any part of the country.
Health insurance schemes undertaken by the government of India have a wide coverage spectrum. Such schemes are available as an individual cover and a family floater option that understands the different sinews of health care requirements for a country of millions like India. While offering fixed insurance coverage, many government health insurance schemes offer several income benefits to the main breadwinner of the family, ensuring that the lack of employment of funds does not affect the financial requirements of any Indian citizen. With assured returns, government health insurance schemes are also one of the safest products to invest in with the least possible market risk profile.
Coverage Of Pre-Existing Medical Condition
While this clause might not be inimical to government insurance schemes alone, what makes it stand out is the fact that pre-existing medical conditions are covered by such schemes from the beginning of policy tenure. Most private insurance companies have a waiting period, usually ranging from a few months to a couple of years during which no claim or coverage is provided for the underlying diseases of a policyholder. Government insurance schemes bridge this gap and cover pre-existing illnesses from the very start without any additional payment or an age limit, thereby, ensuring the all-around physical well-being of any policyholder.&
Domiciliary benefits are another prominent feature for buying government health insurance schemes. While this is covered by several private health insurance policies, policyholders sometimes have to pay a higher rate of premium to avail of this feature. Moreover, this is an inbuilt feature on most government health insurance schemes, and ib the vast stretches of our country where it might be difficult to get access to a hospital or a bed in a health clinic, this feature is nothing less than a boon to have immediate recourse to medical help with adequate financial coverage.
Government insurance schemes come with hospitalization benefits that assure subsidized treatment at hospitals across the country. It ensures complete coverage of pre and post-hospitalization charges and other medical expenses. While it is common knowledge that government hospitals offer medical services at a subsidized rate, this feature ensures that policyholders get the best medical assistance at no extra cost.
These features available under most government insurance schemes will hopefully lift your doubts and aid you in understanding the importance of investing in one. Anyone can avail of each of the facilities at no extra cost and be assured of a strong financial and medical coverage option. By investing in any government insurance scheme, you secure the financial future not just for yourself but for your spouse, children, and other dependents as well, especially for someone who belongs to the needy section of the society.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.