Health Insurance Policies and Its Advantages

– The article talks about the role of health insurance policies in case of any unfortunate crisis. Also, it shares the multiple benefits offered to a health insurance policyholder.
When accidents, unexpected and unfortunate event happen and medical emergencies are highly required; the existence of health insurance plays the most vital element. A contract agreed between the insurance company and the insured requires the insured to pay particular amount regularly to use the overall benefits, which do not ground on the insured's income but on the reportage benefits and an assessment of the risk status.

Recent studies report that the healthcare expense is increasingly higher from year to year. It is getting rising more than 20% annually. Moreover, your beyond expenditure is continuing to approximately 75% of the overall medical expenses. Therefore, it is sufficiently urgent that you require health insurance. Due to the premiums, you as the insured will not have financial difficulties when you are suffering from a major illness or have to be hospitalized.

Indian health insurance policies include several basic costs of hospitalization caused by diseases or accident that is not included into the permanent exclusions of the policy. This insurance coverage is nursing expenses, surgical appliance, chemotherapy, radiotherapy, and operation theatre charges, medical and drugs; and room and boarding expenses as the nursing home or hospital has provided.

As Income Tax Act has declared in the revision of section D, companies now have to follow this ruling. The companies are currently putting in a new complexion to their policies of health insurance also called medical claims, so you will have a secure future at last.

As the medical expenses have been entirely covered by the company, you do not worry about unforeseen medical situation. Any medical and hospitalization charges are covered. Indian companies offer several unique policies you can make the most of. The policies have been particularly designed to provide your requirements and needs. Buying this insurance can be done so easily. You can buy it with credit card and create a premium at interest free installment.

Many banks offer you premium payments of 3, 6 or 12 months' EMI and no interest are charged upon you. The policies used to specify Rs. 15,000 as the highest amount which became your medical coverage for you and your entire family including your parents. Due to the Section 80D clause revision under Income Tax Act, the current medical coverage amount is Rs. 15,000 for you and your family as well as children and spouse. But, there is an additional sum; Rs. 15,000 is added for your parents' medical coverage. Thus, currently your entire medical coverage amount has increased up to Rs. 30,000 from Rs. 15,000.

This insurance plans and also premiums are also affected by your age. As older you are, the premiums will be costlier. The consideration is when you are getting older; you will be at higher risk at being attacked by disorders, illness and also malaise.

On the other hand, this insurance also excludes several things which marginally vary between one company and another. The one you have to pay attention is the pre-existing treatment or disease for typical except the expensive treatments, like hernia and cataract.

Some of the expenses excluded into the policy are the permanent exclusions which may compromise the upcoming illness, dental surgery and treatment, cost of hearing aids and contact lens, inoculation, vaccination and change of life. Not to mention, plastic surgery and aesthetic and cosmetic treatment are also excluded into the health insurance policy.