Importance Of Having A Individual Health Insurance Policy

Know that, irrespective of your present condition or lifestyle, a medical emergency might occur at any time. As a consequence, it's vital to formulate a strategy and take care of your family and oneself from any unanticipated medical emergencies. Be organised and financially independent in the future to cope with wellness threats. This is especially crucial if you have older parents living with you since they are more susceptible to infections and other ailments. If you need to be admitted to the hospital or have surgery, the costs can quickly mount up and deplete your resources.

If you or a member of your family is diagnosed with a chronic condition, however, a health policy will allow you to relax about healthcare expenditures and focus on the treatment process rather. In addition, insurers provide free yearly health check-ups to all policyholders as you'll be conscious of your health status and can spot a problem early on. To get to know more about the importance of individual health insurance plans, read on.

What Are Advantages Of Individual Health Insurance?

In India, the rising prevalence of lifestyle illnesses such as diabetes, hypertension, stroke, and heart attack among both the young and old is becoming a major source of worry. Even if you don't have a family history of these illnesses, you're still vulnerable to difficulties. This is when having good health insurance coverage comes in handy. One of the most important health insurance benefits in the event of a medical emergency is that it allows you to focus on the treatment rather than the burden of healthcare bills.

Following are the listed advantages of an individual health insurance -

1. Coverage for medical expenses

You never know when you or a loved one will develop a chronic medical condition. If a person has an individual health insurance policy, the respective insurer will take care of the medical bills, leaving the person to concentrate on the healing process.

• Cashless or expenditure reimbursement options are available - If you choose appropriate coverage, you would not have to pay anything out of pocket with cashless treatment facilities. The insurance would deal directly with the hospital to settle the bill. You can also get treated at any hospital or healthcare provider of your choosing and then file a reimbursement claim with the insurance by producing original invoices and appropriate paperwork.
• Other options for therapy - Some insurance cover the costs of alternative treatments like AYUSH (Ayurveda, Unani, Siddha, and Homoeopathy) and Naturopathy. Regarding daycare therapies, therapy at home per doctor's recommendation, and pre- and post-hospitalization payments up to a certain maximum, cashless options are also available.
• Alternative therapies and maternity benefits - Several health insurance policies provide coverage for maternity expenditures. This really is particularly ideal for young couples who are thinking about having a baby or are adopting one.

2. Cashless Claim

You may get treated at some of India's greatest hospitals without paying anything out of pocket thanks to cashless claim services. All you have to do is get hospitalised at one of the medical centres with which the insurance company does have a contract. When you notify the TPA (third party administrator) and the insurer that you've been hospitalised, they'll contact the hospital personnel and pay the cost on your behalf. To be eligible for a cashless claim, your treatment expenses that are within the insurance limit.

Endnotes

Due to the general numerous benefits it offers, health insurance is increasingly considered a need. However, do not rush into purchasing insurance. A person should always do a little basic research before making any purchases. Just about all the insurers will have a webpage, and there are a variety of price comparison services to choose from. With a few mouse clicks, you'll be able to locate and compare policies. Purchase an appropriate coverage after reviewing the insurer's offerings and terms and conditions. ​

Also read - How Do Family Floater Plans Offer More For Less?

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.