Financial protection against unforeseen health costs.
Access to better healthcare.
The prevention of medical concerns.
Peace of mind that you and your family are covered.
Health insurance provides much more benefits than just coverage. It gives peace of mind to both you and your loved ones. Just imagine a situation where unexpected medical expenses don't overburden you and allow you to focus on recovery without the tension of bills. This is the benefit of health insurance especially when buying it online for convenience. By paying a premium amount that stays constant, you can rest assured that your insurance provider will handle the majority if not all costs, in case of an emergency.
India's medical insurance facility offers a variety of plans to meet your needs. From basic hospitalisation coverage to comprehensive packages encompassing pre and post-hospitalisation expenses along with preventive health checkups. Deciding on the plan is important for your well-being and financial security whether you get coverage for yourself individually, as part of a family scheme, or specific insurance customised for elderly parents.
This works for one person, giving them broad cover regarding their medical costs, hospital charges, or even treatment costs. Whether you’re just starting in your career or looking for peace of mind, individual health insurance can give you the coverage you need. And the good thing is, you even compare the health insurance online of different organisations and choose the best policy for your own needs and budget.
Many Indian plans have zero waiting periods for particular treatments, so you never have to delay critical medical care. Now go for flexible EMI options that enable you to pay your premium conveniently without putting a strain on your finances.
Health insurance terms for the family include health support for all the young and old members of the family. The main advantage of having family health insurance online in India is that all the members of a family will get hospitalisation, surgical treatment, and even daycare treatments under the same policy. In this manner, an individual need not buy a separate policy to avail the benefits of the policy and therefore it saves time and money.
You can also opt for coverage amounts and customise it according to the needs of your family. Some companies also offer a zero waiting period for pre-existing conditions, so you and your family members with any health issue can also get treated sooner. Most insurance providers also offer the option of paying the premium in convenient EMIs to not burden you with the payment of huge amounts at once.
Medical insurance varies in India with different types of plans that address the specific needs of the people. These include:
This health insurance term covers one person and gives financial help during hospitalisation or for any other medical expenditure. It is perfect for people who live alone because, with this, they are sure of their health bills.
It is one of those family health insurance plans where the entire family comes under a single policy. So, it is cost-effective and makes sure that every member of your family, from the youngest child to the most aged parent, is protected.
These plans are made to take care of aging people, address the medical needs of older adults, and also cover all ailments occurring due to an aging body. Health insurance terms for seniors will ensure your parents or elderly relatives get proper care without burdening your wallets.
This policy covers a group of people, usually an organisation's workforce. It saves people who want basic insurance coverage from buying an individual policy.
This health insurance online coverage deals with life-threatening ailments such as cancer, heart attack, and stroke. In case of dire needs, it guarantees a certain amount of financial support for the individual.
Cancer insurance plans cover the complete diagnosis and treatment of cancer with all related hospitalisation. Cancer treatment can cost way too much money, hence the plan helps in offering chemotherapy, radiation treatments, surgeries, and even post-treatment care.
Diabetes needs lifelong care including frequent checkups, medications, and complications. This is a specific online health insurance relating to diabetes that covers hospitalisation, medication, and other treatments relating to diabetes, like complications in the kidneys or heart.
Anyone who has a history of heart disease or who may be at risk can get coverage with cardiac care insurance policies. This covers different kinds of surgery related to cardiac and angioplasty for the treatment of heart diseases.
Health insurance offers benefits to protect you financially and ensure access to quality medical care when needed.
It covers a wide range of medical expenses, such as hospitalizations, surgeries, and medicines, along with routine checkups. Some policies may include pre-and post-hospitalization expenses.
Avail cashless treatment at network hospitals. The bills are directly settled by the insurer, thus ensuring that there is minimal financial stress during emergencies.
Save on taxes! Health insurance premiums qualify for deductions under Section 80D of the Income Tax Act.
Health insurance is an important financial safety for medical emergencies. It will guarantee the availability of funds at a very instant. It will also prevent financial stress when you suffer from critical health issues.
Get added perks like maternity cover, alternative treatments (AYUSH), annual health checkups, and wellness programs for a complete healthcare experience.
Choose an affordable health insurance plan that meets your needs. Plans differ based on coverage, premium prices, and network hospitals and you have to compare health plans to choose a suitable one.
You pay a premium monthly or yearly once you are a member. The premium keeps your plan active and you can get the benefits of the plan.
If you need some form of medical treatment, most people think of hospitals immediately. And if your chosen hospital is a networked one for your insurer, you will get cashless treatment. If the hospital is not networked, then you pay the hospital directly and claim it afterwards.
You usually notify an insurer before scheduled or elective treatments. Pre-authorization is a feature, but it is the insurers' choice to ensure cost coverage for the given service.
If you go for cashless treatment, then the hospital directly calls the insurer. For other than cashless treatment, you have to send an insurance claim form along with relevant documents to the insurer. The insurers process a claim according to the policy terms and conditions.
Some of the plans involve co-payments or deductibles, where you will share the cost of treatment. For example, if your plan has a 10% co-pay, then you will pay 10% of the charge and the insurer will pay the rest.
Most plans offer more protection for costs that occur before admission to hospitals for treatments and diagnostic tests. They also cover follow-up visits conducted within a specified timeframe.
Health insurance is important for all, but the need differs from one person to another based on his age, lifestyle, and financial situation.
Young, healthy individuals may feel like they don’t need health insurance, but accidents and unexpected illnesses can happen at any age. Having affordable health insurance ensures that you are financially protected against medical costs, especially in the case of emergencies.
If you have a family, affordable health insurance is important for covering regular doctor visits, vaccinations, and any unforeseen medical emergencies. Health coverage ensures that you have access to quality medical care and can avoid expenses that can drain your pocket.
A complete health care policy will include regular check-ups. The treatment of a person in case of any health problem because people are advancing in age and are likely to suffer from other health problems. This can be prevented from increasing costs at a later stage as health needs will be constant.
Older people are more susceptible to health problems. Health insurance for the aged is very crucial because some treatment entails a lot of money. They have to go through frequent hospitalization or prolonged treatments for chronic conditions.
Health insurance is more important than ever with rising medical costs and new health issues. Have you thought about how unexpected medical bills could impact your savings? Here’s how health insurance can help:
You will get many benefits when you buy a health insurance policy in India at an early age. Here are a few of the advantages of buying health insurance at an early age:
There are the following diseases that are not covered in a medical plan:
Cosmetic surgeries are not covered under medical insurance. They are not crucial or life-saving and do not relate to the quality of one's life in medical terms. Examples of such treatments include lip or breast augmentation, botox injections, facelifts, etc. These procedures are only meant to help enhance your beauty or physical appearance and don't necessarily facilitate or improve any body function.
Everyone knows the fatal nature of drugs, smoking, and overdoses of alcohol. Those who habitually consume such products are pretty likely to suffer from lifestyle diseases as compared to others who abstain from these drugs. Regular drinking of these products will cause considerable damage to your lungs, liver, and mouth, and also cause cancer and stroke.
Such diseases or conditions are those that a person is born with. Such conditions can be internal, for example, an especially weak inner organ, or even external conditions, like a repeated skin condition. Always inform your insurer regarding any congenital disease before you buy health insurance online.
Having a baby is a sensitive affair and quite expensive. If you are planning a child and need to be covered by a health insurance plan. Then go for a specific health insurance plan with an inbuilt maternity cover that can be better equipped to handle pregnancy and birth complications than the usual health insurance cover.
All health insurance policies do not cover in vitro fertilization and fertility treatments because these are planned medical procedures and are highly expensive. Medical insurance policies are for sudden and accidental injuries or accidents or emergency treatments, therefore infertility procedures and treatments can't be covered under health insurance.
Not many health insurance policies in India cover transmitted diseases such as Sexually Transmitted Diseases (STD), gonorrhoea, HIV, etc. Even these health policies offer limited coverage. This is because the treatment of such diseases continues for the whole life and is very expensive. Hence, transmitted diseases are mostly excluded under a majority of health insurance plans.
While your medical insurance plan might come to your rescue in the event of accidental injuries and wounds, the same is not the case for self-inflicted or intentional injuries. Professional help should be sought over one's mental health if you are likely to inflict any injuries on yourself.
The waiting period for the health insurance policy for pre-existing diseases and conditions ranges from 2-4 years. However, apart from this, there is also the initial waiting period of 30 days, which is part and parcel of all health insurance policies. Also, if you are already suffering from a disease or an illness before you buy health insurance, ensure that you inform the insurance company about the same.
Here is a list of documents that you are required to show the insurer while you are planning to avail of a medical plan in India.
Age Proof: Driving licence, Voter ID, Passport, birth certificate, etc.
Identify Proof: PAN card, Passport, Driving Licence, Voter's ID, and other such identification documents will be required.
Proof of Address: You need to submit documents such as a Ration card, Passport, Voter's ID, Aadhaar card, bank statement, telephone/electricity bill, etc. that prove your address.
Medical Reports: In a few instances, you may have to undergo a medical check-up to attach your reports.
Health insurance policies offer different payout options to meet the needs of policyholders. Here are the common payout options:
Through this, the insurer directly settles the medical bills with the hospital. You don’t need to pay upfront, except for a few expenses like co-payments or non-medical charges. It is ideal for those who don’t want to pay out of pocket and claim reimbursement.
You pay the medical bills first, and later, submit the bills and documents to the insurer for reimbursement. The insurer will pay the expenses as per the policy terms. It is suitable for people who are not opting for network hospitals or prefer treatment at non-network hospitals.
This option offers a fixed daily benefit, regardless of the actual medical expenses. It provides a set amount of money to cover incidental costs like travel, food, or accommodation. It is useful for policyholders who want extra cash for non-medical expenses during hospitalization.
A top-up plan provides that extra coverage of the excess amount in addition to the previously existing health coverage. It is one of the most cost-effective ways of topping up an existing limit when the costs are very high. It is therefore highly recommended for people who already have some form of basic health insurance but want additional coverage.
This option provides a lump sum payout if diagnosed with a critical illness covered under the policy (like cancer, heart attack, etc.). Those who want financial protection against the major illnesses in their life and want to cover all the costs of treatment.
You should be familiar with some of the terms used in health insurance plans. From them the most important ones are listed below:
This is the money you pay to keep your medical insurance coverage on for a regular period.
The medical costs that your policy will cover which would include hospitalisation, surgeries, medication, etc.
It is the amount you need to pay out-of-pocket before your insurance starts covering your medical bills.
Network Hospitals are a group of hospitals that have agreements with your insurance company. If you get treated at one of these hospitals, your insurer will directly settle the bills with them.
This is the time you must wait after getting a policy before you can make claims for certain medical treatments. Some health insurance plans in India have no waiting periods for specific conditions.
It's the maximum amount the medical plan will pay out on a specific policy year.
Any health condition you have before buying the policy. Most insurance plans have a waiting period before they begin to cover pre-existing conditions, though some offer shorter or zero waiting periods.
Purchasing health insurance can be an important step towards securing your financial future and protecting your health. Here is what you can expect during the process:
Before purchasing, evaluate your healthcare needs. Take into consideration factors like your age, medical history, and family history of diseases. Decide whether you need a basic plan or something more comprehensive like a family floater or critical illness coverage.
Expect to evaluate various plans based on their benefits, coverage limits, exclusions, and premiums. Health insurance comes in different forms, such as individual, family, critical illness, and top-up plans, each designed for specific needs.
Research the reputation of the insurance company, claim settlement ratio, network of hospitals, and customer service. The better the reputation of the insurance company with a higher claim settlement ratio, the smoother your claims will be.
Premiums under health insurance vary with age, pre-existing conditions, type of coverage, and sum insured. You will need to pay a high premium if you are older or require a complete plan.
Give your details and identification documents, medical history, and sometimes even a medical check-up report have to be submitted. The documents you submit are to help the insurer understand the person's eligibility and risks.
Carefully go through all terms and conditions of the policy regarding exclusions. For example, treatment of certain conditions or waiting periods, co-payment, and procedures followed in filing claims. Then ensure you understand the terms before buying the policy.
The early you start is the best. But it is advisable to take medical insurance by your twenties or thirties when you are less prone to illness.
Yes, identity proof is required to get a health plan in India. You will need documents like ID proof, age proof, and income details to get health insurance. It is important to be careful when submitting the documents required for health insurance.
Yes, you can have two medical insurance at a time but it is advisable to opt for two if you think one plan is not sufficient to cover your bills.
The initial waiting period is generally 30 days to 90 days, and it can vary according to the policy.
The health complications come unannounced. The medical bills can drain your pockets immensely. It is better to get the right health plan that saves your future savings from going into medical bills.
