Importance of Health Insurance



    Importance of Health Insurance and Factors to Consider Before Opting for it.

    As we know that “Health is wealth”, choosing the right health insurance plan for you and
    your family becomes a serious decision. It provides you peace of mind and a sense of
    security not only for yourself but for your family too. Moreover, it guarantees that you
    can always provide them the best chance of getting well in case anything goes wrong. Let’s discuss the importance of health insurance and factors to consider before opting for it.

    Importance of Health Insurance

    As we know that health insurance plans are explicitly designed to provide monetary
    protection against medical and hospitalization costs due to illness or diseases. You feel
    more relaxed. You no longer have to worry about the finances when you are protected under a sound health insurance policy. The following are the few benefits of health insurance.

    ● Peace of Mind

    When you have health insurance, the policy will take care of the medical bills and
    medication expenses following any serious illness or diseases. You don’t have to pay
    anything from your own pocket unless you applied for any deductibles for the treatment.

    ● Pre and Post Hospitalization Benefits

    The medical health insurance policy covers the expenses incurred from pre-
    hospitalization for 30 before the admittance into a hospital and post-hospitalization
    costs up to 60 days after discharge from the hospital or any other medical institution.

    ● Cover Your Entire Family

    You can include your entire family in a single health insurance policy under one Sum
    Insured amount. You can cover yourself, parents, spouse, children, and grandparents
    under a single medical insurance plan.

    ● Domiciliary Treatment

    The best health insurance policy also includes the benefits of domiciliary treatments
    which is a home-based treatment done during an illness, disease or injury. This could be
    due to the patient’s condition, where he/she can’t be permitted to get admitted to the
    hospital or due to the lack of room at the hospital.

    Overall, these were some of the significant reasons why you must opt for a health
    insurance policy. Despite every plan provides overall coverage to the insured against
    medical calamities, which one to opt for leaves everyone in a state of dilemma.
    However, considering a few factors before deciding about one can ease this daunting
    task. Let’s take a look at them.

    Factors to Keep an Eye on Before Choosing a Health Insurance Policy

    ● Network Hospitals

    Health insurance companies connect with hospitals, further hospitals provide cashless
    treatment to the insured during an emergency. These hospitals are referred to as
    Network Hospitals. Make sure that you choose the health insurance plan which includes
    your preferred hospitals in their list. Also, pay attention to the accessibility factor as in
    an emergency, every second count.

    ● Claim Process

    It is better for the insured if the plan is simpler and offers faster settlement of the
    claims. Thus, these two are ideal factors when it comes to the selection of a policy. Best
    customer support is an additional benefit one should always look for.
    ● Selecting the right insurance amount
    While selecting health insurance plans, one should select the amount wisely as it
    includes the medical expenses for a year. Take your age into account; the younger you
    are, the lower the sum insured you need. One should also take a look at their income
    levels to understand the affordable premium. Also, make sure you select a sum insured
    which won’t fall short during an emergency and whose premium is not too exorbitant.

    ● Renewability

    This feature plays a vital role in selecting a plan. Lifelong renewability refers that one
    can renew their existing health insurance plan without much thinking of the age-limit clause. These plans are preferable in comparison to others as one can avail insurance benefits in old age too when it is most required.

    ● Maternity benefits

    With the rising medical expenses, pregnancy costs have skyrocketed as well. It is
    important for women to choose a health insurance plan that provides maternity
    benefits. Here, one should look into the waiting period applicable for claiming maternity
    expenses and consider the sub-limit. The policy must also include outpatient costs and
    check for exclusions related to the policy.

    ● Family Health Insurance

    While opting for health insurance plans, make sure that you keep your family members
    and their age in mind. Before buying the insurance, consider their present ailments as
    well as the family’s medical history. Additionally, confirm with your family members for
    any pre-existing diseases before buying a policy.

    ● The facility of Pre & Post hospitalization

    In general, insurance companies offer the benefit of cashless hospitalization during an
    unfortunate incident. You should always check if their plan is offering the facility of
    pre/post-hospitalization or not.with this facility, the insurance company will not only
    refund for the amount incurred during hospitalization but also pay the bills incurred
    before & after hospitalization including bills paid for medical tests, medicines, and visits to the doctor, etc.


    Overall, it is never advised to purchase a health insurance plan before thoroughly
    checking on it. Keep the above points in your mind, read carefully all the details; buy
    one best health insurance as soon as possible.

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