Why should I choose TATA AIG as my health insurer?

A  Health Insurance Policy protects you from the financial consequences of a variety of health-related charges, ranging from mild illnesses and injuries to major illnesses. As a result, health insurance and the cumulative Bonus provide financial security in the event of a large medical cost.

Why Do You Need Health Insurance?

There is so much unpredictability around one's health that having any control over health-related spending is nearly impossible. You can get some control and protection over your and your family's medical expenditures by acquiring an appropriate health insurance plan.

1. Changing Living: As a result of the ever-increasing stresses of modern-day lifestyle, the spectrum of health-related dangers we are exposed to has dramatically widened. There are a plethora of diseases that can result in high medical costs, ranging from obesity and eating disorders to pollution-related illnesses like asthma. The constant stress of today's competitive world has resulted in a major increase in mental health difficulties, which is why getting a comprehensive health insurance plan for yourself and your family is critical.

2. Increasing Medical Costs: Medical inflation in India has not only kept pace with retail inflation in recent years, but has exceeded it by a significant margin. The cost of medications, medical exams, hospitalization, and treatments is continuing to rise. It makes more sense to pay the smallest health insurance premium and be insured than to pay for those large medical expenditures out of pocket. As a result, obtaining health insurance coverage is essential to ensuring your financial stability during and after a medical emergency.

3. Cover of Covid-19: The planet's situation has been nothing short of exceptional during the last two years. With the various repercussions of the present global COVID-19 pandemic, it is more vital than ever to purchase adequate health insurance coverage. The Tata AIG health insurance plan covers Coronavirus.

4. Benefit From Taxes : Health insurance not only protects you financially in the event of a medical emergency, but it also offers you with significant tax benefits. While health insurance premiums paid by elderly persons are eligible for a tax deduction of up to 50,000 under Section 80D of the Income Tax Act of 1961,Individuals under the age of 60 are only eligible for a tax deduction of up to 25,000 for premiums paid.

5. Provides the Option for Additional Sum Insured : One of the most important health insurance perks of a Tata AIG health insurance plan is the cumulative 'No-claim Bonus,' which entails an increase in the total insured under your health insurance plan without a corresponding increase in your health insurance premium for each claim-free year. As a 'No-claim Bonus,' you can receive a 10% to 100% additional sum covered for each policy year without filing a health insurance claim under our MediCare health insurance plans and variants.

Reasons To Choose TATA AIG

1. Consumables Cover: If you are admitted to the hospital, our Consumables Cover will cover the cost of any surgical or medical consumables or equipment that is billed to you, in addition to the hospitalization fees. These consumables are the materials or equipment that are directly utilized in your treatment, and they can be costly if you do not have health insurance that covers them.

2. Worldwide Cover: If you add our Global/Worldwide Cover to your health insurance, you will be covered for treatment of any illness or condition that occurs outside of the United States. This plan can help you cover the costs of medical treatment and hospitalization if you are diagnosed with a disease in India but prefer to seek treatment and hospitalization elsewhere.

3. Automatic Restoration: Because we understand medical crises and the costs associated with them, our health insurance policies provide an automatic restoration benefit. This function allows you to have your sum insured automatically refilled or restored if you have used it up in a single policy year due to a medical emergency.

4. Cumulative Bonus: Your Tata AIG health insurance policy will reward you with a cumulative Bonus benefit of 10-50 percent for each claim-free year. This benefit increases your sum insured without raising your health insurance rates, resulting in more comprehensive coverage. For each year that you do not file a health insurance claim, you can get up to a 100% additional sum insured with our health insurance plans. We have health insurance plans that are customized for your health insurance needs, whether it is our cashless procedures, tax benefits, the choice of an additional sum insured, or many other benefits.

5. Maternity Cover: This rider can help you cover the cost of maternity expenditures up to Rs. 50,000 for each policy year after you add our Maternity Cover to your policy and wait 4 years. If the birth is a female, we will boost the coverage to Rs.60,000.

Take Away

With its high sum insured at affordable rates and extended hospitalization coverage, the Tata AIG COVID health insurance is designed to help you make up for lost income caused by prolonged hospitalization. In general, rising medical expenditures might make obtaining high-quality medical care more challenging. Our COVID-19 insurance plan, on the other hand, comes with a number of benefits that cover hospitalization charges, cashless treatment, and more, so you do not have to deal with any financial or medical concerns alone.

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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.