Health Insurance – Plan Your Health and Medical Expenses
Health has been a serious concern for most of us. Probably we get to see doctor three to four times a year and it really set up for heavy expenses whenever we get ill. Illness on our family cost our pocket very heavily and therefore all around the year we expect that no one in family gets ill. Well insurance companies have a prospect business in this and brought health insurance plan for us. Though these companies are running for profits but they have really came up with one of the best plans for us. Health Insurance has been introduced few years back in India and in very short period of time it has become such a popular scheme that it has cover about 40% of general insurance market.
What is Health Insurance?
Health insurance is a non-life insurance plan which functions as normal insurance plans. Under health insurance plan, insurance company insures an individual or a group against medical illness and losses incurred on it for a particular time period. These insurance plans are not carried for very long period and most of the plans are on yearly basis therefore after the end of term year insured person has to renew it to carry on the plan. The only thing that matters is that if you do not get ill in the term period then at the end you will not get paid off the insured amount as normally we get paid in life insurance plans.
Key Features and Benefits of Health Insurance –
- Family Floater Policy – There are some health insurance plan which covers upto 4 to 5 members of a family in same plan and single premium.
- Hospitalization Cash Benefit – Some plan have this special feature which help you to get cash benefits of your loss of leave from work while hospitalization.
- Cashless Facility – There are some insurance companies which do not offer cash benefits against medical expenses rather they have a network of hospitals which allow you get medical facilities for free.
- Pre-Hospitalization and Post-Hospitalization Benefits – There are some policies which offer you cash benefits against pre and post hospitalization expenses such as medical tests, scan, medicines etc.
- Ambulance Charges – Some medical plans also covers the ambulance charges and insured person doesn’t need to pay for it.
- Free Health Check Up – There are most insurance plans which allow free medical and health check up for certain numbers in a term period.
- Pre-existing Diseases Cover – Well not most of the companies but some of them also offer insurance cover for pre-existing diseases such as diabetes, blood sugar, cancer, etc. But get clear information about it before getting insured.
- Maternity Cover – Again very few companies offer this insurance plan as in this plan insurance company bears each and every expenses while pregnancy and after delivery.
- Tax Benefits – Not only these benefits but under Section 80D of Income Tax Act, insured person gets a tax benefits upto the premium of Rs. 15000 and Rs. 20000 for senior citizens.
Health Insurance Companies in India –
- Life Insurance Corporation of India (LIC)
- Apollo DKV Insurance Company Ltd.
- Aviva Life Insurance
- Bajaj Allianz General Insurance
- Birla Sun Life Insurance
- E-Meditek Solutions Ltd.
- Family Health Plan Ltd.
- Health India – Bhaichand Amoluk Insurance Services Pvt. Ltd.
- HSBC Health Insurance
- ICICI Lombard General Insurance
- Max New York Life Insurance
- Med Assist India Ltd.
- MetLife India Assurance Company
- National Insurance Company
- Paramound Health Group
- Reliance Health
- Royal Sundaram Alliance Insurance Company Ltd.
- Star Health and Allied Insurance Company Ltd.
- TATA AIG
- The New India Assurance Co. Ltd.
- United Health Care
- United India Insurance