Benefits of Health Insurance

The health insurance plans offer many benefits. You get to cover your health and you also get to keep your finances in check. So, a good health cover quite literally protects your health and your wealth. This is why it has practically become compulsory to get a health insurance cover. Thankfully, there are many other benefits of doing so. Let us find out what they are.

Which policy to choose

In order to ensure you get the maximum value out of your health plan, you need to choose the correct type of cover for yourself. There are some different types of health insurance plans to choose from. Let us take a look at the various plans and their beneficial uses:

  • Comprehensive health insurance: The first and the most common type of health insurance is comprehensive health insurance. These health insurance plans offer the basic health cover for individuals as well as the entire family. You can get a wide range of medical issues covered under such a cover.
  • Critical illness health insurance: Next, we have the very beneficial critical illness plans. As a policyholder, you get a fixed sum assured if you are diagnosed with any one of the critical illnesses mentioned by your insurance provider. The common illnesses under this cover include cancer, stoke, organ failure, etc.
  • Maternity insurance: Since childbirth is a crucial part of life, you have to ensure the process is smooth and secured. You can buy a maternity health insurance plan and cover the risks and costs involved in childbirth. These health insurance plans are specially designed to cover the maternity costs.
  • Senior citizen plans: Gone are the days when a person above the age of 60 had to give up health insurance. Nowadays, there are these wonderful senior citizen health insurance plans that are specifically aimed at the older generation. If you are a retired person, this health cover is highly beneficial for you.

These are the most common types of health. You must understand what each offers and then choose your cover appropriately.

Terms and conditions of renewal

It is very important for you to renew your health insurance policy on time to avoid any lapses in the cover. However, you must take care to understand the terms and conditions to ensure a smooth transition from the existing cover to the new cover.

  • Assess the mentioned details: The insurance provider will send you a notification about the renewal along with the details related to the plan. This will include the number of claims made, the nature of the claims and the NCB (if any) amount. If there has been a mistake, inform the insurer right away.
  • Check for future costs: The insurer will also mention their terms and conditions for the claims to be made in the following policy period. Go through these terms. If you feel the cover won’t suffice, look for riders or additional health cover to accommodate your needs. This is vital and needs to be done at the time of renewal to have a hassle-free policy year ahead.
  • Explore your options: If you have been unhappy with your insurance provider, you can compare the other available options and switch your health cover. As per the terms and conditions of the health insurance plans, a switch is allowed. You can also transfer your no claim bonus and waiting periods between insurers. So do not hesitate to find the best possible health insurance cover for yourself and your family.

The bottom line

Health insurance offers a lot of benefits. It is unwise to live without health insurance simply because the medical costs are so high these days. Not only will the bills drain a hole in your pockets, you may not even be able to afford the best hospitals if you do not have the financial backup of health insurance. So choose a proper plan and stay protected in a wholesome manner. There is no substitute for healthcare and similarly, there is no substitute for health insurance. Thankfully, there are many good, comprehensive and affordable health insurance plans available. You can go online and make a purchase quickly and conveniently. So without waiting any further, go online and do the needful now!