What is Health insurance and why do you need it?

Health insurance is a type of insurance that covers the cost of your health related operative costs like medical expense or surgical expenses. To avail this insurance, you pay a premium to the Insurance Company that pays the healthcare service provider in the event of a claim. There are primarily two modes of payment –

You pay the costs out of your pocket to the provider, and are then reimbursed by insurance company

  • -Cashless facility where-in the insurance company directly pays the provider.
  • -In Insurance terminology, Clinic, hospital, doctor or, healthcare practitioner is known as Provider, whereas owner of the health insurance policy, who avails the benefit, is known as the Insured.
  • -A Health Insurance Policy would normally cover expenses incurred under the following heads-
  • -Room, Boarding expenses
  • -Doctor & Nursing expenses
  • -Material expenses

It is important for everyone to get a health insurance policy no matter how healthy they are, as we never know when an emergency situation will arise. There are a variety of health insurance plans that you can choose from, to suit your requirements based on diseases covered, sum assured, limitations and tenure.

With the steep rise in costs of Medical care, not having an insurance cover can burn a hole in your pocket and force you to break those savings that may have been for more important things. Medical insurance policies make medical treatment accessible and affordable for you. Cashless Hospitalization offered by Insurance companies, allows you to visit any network hospital and seek medical treatment on a cashless basis.

One more reason behind a better lifestyle is that a person is able to live with peace of mind under health cover. You are bound to seek quality medical care at the earliest, go for regular health check-ups, which are helpful in detecting any ailment or diagnose of any disease, at the earliest. Thus, it is advisable to buy mediclaim health insurance to secure yourself from financial stress due to medical expenses. It is advisable to buy a comprehensive mediclaim product to that provides all the required cover in order to ensure.